REACTION IN WASHINGTON.

Manawatu Standard, Volume LVIII, Issue 53, 31 January 1938, Page 7

REACTION IN WASHINGTON.

M. VAN ZEELAND’S REPORT. OPPOSITION PROBABLE. NEW YORK, Jan. 29. The Washington correspondent of the New York Times says the official reaction to M. Van Zeeland’s report shows, first, that it will oppose a world monetary conference at present; secondly, it will oppose the creation of an international fund or authority for the management of foreign exchange; and, thirdly, it will oppose the revision of the tripartite monetary agreement. SCEPTICISM IN JAPAN. CAUSE UNTOUCHED. ~TOKIO, Jan. 29. Japanese industrial and financial circles maintain a pessimistic attitude to M. Van Zeeland’s report, pointing put that tlie report does not touch the fundamental cause of international unrest, namely, unequal distribution of the world’s wealth and antagonism between the “haves” and “have-nots,” but dwells instead on the technical solution of questions of trade and currency, which are regarded in Japan as only side issue*. Scepticism is general regarding the possibilities of a world conference. COMPLICATED ISSUES. BRITAIN’S ATTITUDE. (British Official Wireless.) RUGBY, Jan. 29. . The Chancellor of the Exchequer (Sir John Simon) speaking at Leetlj, said M. Van Zeeland’s report would be studied by the British Government with the "closest attention. The extreme complication of the issues involved was, he said, apparent after perusal of the report. Referring to the importance which M. Van Zeeland attached to bi-lateral commercial agreements, he said it was only since Britain had had its own tariff system that such an agreement could be secured by her. This new policy made possible a whole series of tariff agreements with foreign countries, greatly to the advantage of various classes of British exporter, which certainly could not have been obtained without the fiscal instrument. The same policy would be continued to be pursued.