EXPERTS AT WORK

Rotorua Morning Post, Volume 2, Issue 290, 2 August 1932, Page 5

EXPERTS AT WORK

(Press. Assn.

SECRECY- MAINTAINED.

— By Telegraph— Copyright G

OTTAWA, Monday. The cooks, who are busy at Ottawa, preparing an Empire meal. have not yet solved the problem regarding all the ingredients. It is not expected to be a lavish banquet, but they are concerned in merely providing an honest working-man's dinner. They consider they have already solved the butter problem, and there is no diificulty about bread, because the wheat farmer has produced abundantly. Regaraing meat, they have a roast ready in the pan. Assorted fruits adorrx the sideboard, and the only question that remains is: "Can we provide gas for the cooking stove?" In other words, that is the currency problem. There is a bountiful supply of everything- a hungry man needs, can wre have it? Can •Ottawa put serving Empire in the position to purchase its meal? Moneiary Problem.

The early stages of the diseussion on the monetary problem indicate the wisdom of the conference lioliday, as the arrangements will give time for the incubation of the ideas which . have been outlined. The utmost secrecy is observed regarding the trend of suggested action, because if any hint is disclosed it might conceivably embarass Britain, if she is involved in a volteface or amendment of the original proposals at the Dominions' behest. Moreover, premature- predictions of a final scheme might entail worldwide repercussions. If a policy were adopted which meant the general curtailment of production it is difficult to imagine what may happen. Increased Activity. The present interregnum of official business does not mean the complete stoppage of progress; on the other hand it means accelerated activity on the part of the sub-committee reviewing currency problems. Those experts are accomplishing really effective work. During the week-end they have been asked two questions. The first is: Is it advisable and practicable to raise commodity prices; if so, how? Secondly: It is advisable and practicable to stabilise exchanges; if so, how? It is agreed that the answers cannot be furnished within a few days. The report will involve the most serious consideration of any subject before the Conference. The heads of the delegations, especially realise their deep responsibility and it is unlilcely any essential progress towards a decision will be made until next weelc after delegates have returned from their Niagara trip.