THE CONFERENCE

Hokitika Guardian, 19 July 1933, Page 5

THE CONFERENCE

DOMINIONS’ HOPES

FORMATION OF STERLING' BLOC.

(United Press Association —By Electric Telegi ayh—Copyright.)

LONDON, July 18,

It is generally agreed that the Economic Conference should .y have been terminated when it previously reached a deadlock. Nothing ha 6 been aiccompfished since, and nothing is likely to be accomplished.

About all that remains to inspire the Dominions’ hopes is the possibility of the formation of a- sterling bloc, regarding which the Empire delegations met this afternoon to isee whether the project a,ppeal s to Britain. If she is 'agreeable, it is taken for granted that the Argentine, Denmark and the Scandinavians will automatically attach themselves. It ds prophesied that the participants would undertake not to operate individxrl exchanges to one another’s detriment, in which case the Australian and New Zealand depreciations would come up for discussion.

On the other hand, should Britain decide against the bloc, auxiou s eyes will be turned to the slide in the dollar, Nobody ©ares to express an opinion as to what would result if sterling went in pursuit of the dollar in the mad rush of depreciation. Consequently,' to-day’s Empire meeting is one of the most momentous of the Conference.

jin Jho ’Commons, Mr Lambert sought an assurance tint the Empire 'Marketing Board wa,s not going to advertise that Dominion dairy prowould be sold here at prices •below those in the country of origin.

M r Thomas replied that the Board w.&s loot contemplating any special campaign in favour of Dominion dairy produce.