THE CONFERENCE

Hokitika Guardian, 26 July 1933, Page 5

THE CONFERENCE

AND ITS FUTURE

TO BE CONSIDERED TO-DAY

(British Official Wireless.)

' ■ * ’ RUGBY, July 25. The seventh and final week of the

\ > present session of the conference {' gan to-day. The .Conference’s future ■ L will he fulily considered iby the Bureau, to-morrow. The bureau will have be- , J fore it of its two main eom‘l missions, which i,n turn are 'based on the reports bthoir jmany sub-com-mittees.

The Economic Commission has already completed its report, and this afternoon, the monetary financial commission examined the draft report of it 6 rapporteur, M. Bonnet, in plenary session.

It stated that the initial exchanges [revealed .’the inter-dependence of the majority of the problems involved, and the necessity for settling first, certain fundamental questions. It was agreed, after an, exchange of views, that solutions were for the moment impossible, and in the circumstances, dt was better to postpone the discussion. The 'Sub-Commissions acdordingily decided to concentrate on points likely to lead to immediate rc6ulh».

.The first sub-commission dealing with immediate measures adopted a (resolution relating to indebtedness. The discussion on other subjects mainly proceeds to outline the main pro blems.

The second su’b-commission on permanent measures, has adopted the five (resolutions 'already (reported, dealing firstly with the adoption of gold as , international monetary standard, secondly, the creation .of central banks ; thirdly the need, for, .co-operation, between such banks; fourthly, their adaptation in certain agriculture countries to their special economic condif tions, and fifthly, dealing with silver. Referring to the communication received regarding the . genera! principles of the m'onetary policy Of central banks, the report notea that- the United States delegation considered the discussion on. thig question premature, but the Federal Reserve Bank would gladly/- confer at the opportune time with other central banks on 'the questions of 'this character, to the extent that they- wore compatible with the national policies. The sub-commission was unable to complete its report during the present session, regarding 'the gold exchange standard and other methods of economising gold and the report suggests that the Rank' of' International Settlements should examine the problem “T® of gold exchange standard as soon as * possible. Regarding the questions reserved for further study, the rapporteur believes that a way would isoon be found to reconcile view s which are differing regarding the means, but were identical aS regards the ultimate aim. conference dies hard. ... . ’ MR MACDONALD’S DESIRE. LONDON, July 25. The London conference die s hard. Apparently (Mr Ramsay MacDonald is determined to maintain some * semblance of a continuation, for it is understood that when the Bureau of the Directing Committee meets to-day, it •will be ask&d to appoint a small committee to keep contact till some indefinite date when the world situation may ’permit of progress. The silver agreement is regarded a 6 the conference’s one “ewe lamb.” From the Australia,n and New Zealand point of view “an Ottaw, a Conference in miniature.” which is meeting daily in the House of Commons, is much more important than the World Conference. Monday’s meeting concerned the future of the Empire marketing board, but more important subjects, namely, the limitation of meat, \ and* of dairy produce exports from ,a closer linking of Dominions to Britain, and a sliding group in the matter of currency, are likely to be considered before these sittings end.