THE CONFERENCE

Hokitika Guardian, 28 July 1933, Page 5

THE CONFERENCE

WORLD AFFAIRS

STATEMENT BY CHANCELLOR. , -.jit .. (British Official Wireless.) RUGBY July, 26. Speaking during the debate on public works expenditure, in the Commons, »the Chancellor of the Exchequer (Mr N. Chamberlain), repudiated the suggestion that the adjournment of the World Conference was synonymous with its conclusion or completion. It was clear, he said, that the Conference was obliged to adjourn, without being able to tackle the most important part of the, agenda, because of which. intervened after the cohference began, which made it impossible at. present to continue the discussions usefully upon some of the most important points'.' He entirely agreed that in the circumstances in the United . States recently, it was impossible for that Government to contemplate temporary stabilisation of currency. He saw no reason t 0 assume that the Conference ' would not reassemble when the changed circumstances enabled the. countries to again discuss the currency quetion in. an atmosphere, of tranquility. He still .believes the' attainment of full national prosperity . . was dependent on the restoration of International prosperity, but the United States was trying an experiment on a gigantic 1 scale of ’ extraordinary interest. The conditions there were more favourable for success than would'be anywhere else;’ He reminded the -House that Mr Roosevelt had to face reductions in wages far greater 'than had taken place here.' It might be that the experiment would be a great success.

Referring to public ! he reviewed the schemes alrady ' undertaken and said the ..Government was constantly' searching for directions in which it'could, in this Way, stimulate industry and re-start' the wheels.

"DArtY HERALD” SENSATION

EMPIRE CRISIS DEVELOPING

LONDON, July 27. The - “Daily ; Herald” is* treating Empire stalks "sensationally; 'The paper alleges ' that ' “soiiiethiiig like a serious ' ' Empire crisis is developing.” The u Herald” 'says: Tlie British Ministers iare accusing the Dominions of acting- I .in';-a. disloyal spirit. The Dominion Ministers are hotly resenting the suggestion 1 that they should subordinate their'own economic interests to those of Britain. “There are bickerings over the

tariff policy, and a divergence over monetary-policy, which have produced the most- dangerous strain in the relations within the Empire since the American Declaration of Independence.

“Mr J. H. Thomas (Dominion Secretary) to-day will try to gloss it over, but • the crisis will remain.”

BRITAIN’S TRADE RECOVERY

MORE HOPEFUL OUTLOOK

LONDON, July 27. In the .House of Commons, Lord Runciman, after reiterating the views he expressed at the World Conference concerning the expensiveness and comparative ineffectiveness of loans for public works &o reduce the unemployment, ! sai;d that British employment had increased by half a. .million sirue January. He believed the present internal movement was going .to continue, a view which was supported, first, by an increase in the postal turnover secondly; by a continuous rise ,in the manufacture of chemicals on which so many industries depend and thirdly, bv, an improvement in railway traffic, coastal .trade and shipping, which made them feel they had turned the

corner. ~, The Government during the recess intended pursuing the same lines of policy which secured theseqresults; including ifhe negotiation of tariff agreements to secure the removal of European quotas and on-prohibitions.