WORLD FINANCE

Hokitika Guardian, 23 June 1933, Page 5

WORLD FINANCE

IT.S.A. ATTITUDE ‘ TO STABILISATION PROPOSED. .Umted Press Association —By Electric Telegraph—Copyright.) LONDON, June 22. The monetary commission of tile Economic Conference ig virtually marking lijno ti!i the arrival of Professor ,R,. Moley 'next -week from America. Then, it is hoped, the American attitude can clearly be defined. In the meantime the American delegation is described as being in a state of suspended nnimatfon, while the currency stabilisation plans are a standstill. A Paris report says that the French financiers 'regard the dollar stabilisation proposal ag dead, and consider the United States is wedded to inflat.on. The French financiers, therefore, are now looking to provisional backing for a sterling franc exchange, leading to ®, European currency truce, and leaving America out cf the picture. Replying to <a question in Parliament regarding the raising of the vaiue of silver, Mr Hore Belisha, for the Tre isury, said that the various views taken on the silver problem would receive careful consideration, but the Chancellor of the Exchequer did not think it desirable 'to make any further statement, pending the discussions at the conference.

The general committee of the federation of master cotton spinners unanimously passed a resolution urging the British Government to co-oper-ate with the United States, Canada, Argentine, and Mexico in securing an increase in the price of silver arid its national stabilisation.

PROFESSOR MOLEY SAILS. NEW YORK, June 21. Professor Raymond 1 Moley, assistant Secretary of State, sailed fo r London to-day. He said that the United States might, expert definite results from 'the work cf the 'American delegation to the Conference.