THE GENOA CONFERENCE.

Otaki Mail, 19 April 1922, Page 1

THE GENOA CONFERENCE.

THE DOMINION'S OBJECT. Genoa, April J 7. In reference to the raw materials resolution, a misconception arose lhrough the Italian Economic committee holding a meeting in the Palazzo Beit le. It was lias committee which adopted the resolution cabled, not tiie Conference . Sub-committee, but as Signori Baldese and Cabrini, who promoted the motion in the Italian Committee, are members of the Confereconomic committee, Italy's taction over raw materials requires witching.

Sir Joseph Cook, Australian High Commissioner, took immediate action to investigate the matter and brought the proposals to the notice of Signor Baldese's colleagues.

An earlier cable said; The Economic Commission lengthily discussed the exchange of raw materials. Signor Bal'lese. the Italian Socialist deputy, submitted a motion that the absence of economic equilibrium caused rivalry between the nations and therefore a monopoly over raw materials would require regulation, both in the interests of the producing countries and the States wishing to produce raw materials, and also that an international consortium should control prices and distribution in regard to wool, cotton, coal, flax and hemp. The sub-commis-sion approved the motion on fundamental principles, with some reserve on the proposition to establish an international consortium.

-s RECOGNITION FOR SOVIET. ; TRADE AGREEMENT CONCLUDED. Genoa, April j 7. The Germans have concluded an economic agreement with Russia. Itprovides the de jure recognition of the Soviet, restoration of diplomatic relations, and reciprocal favourednation treatment. This has caused a sensation at- the Conference. A Bolshevik official made a statement that, ■■'though the Russo-Germa.n agreement, had caused a sensation and would produce the Allied charge that we had failed to""keep our pledges to confine ourselves to the Conference agenda., it should be pointed out thai the negotiations were for an agreement to set aside the Brest-Litovsk treaty and place both countries in a hasis of complete equality, enabling common co-operative efforts towards the highest economic development of both countries..