TARIFF TRUCE

Rotorua Morning Post, Volume 2, Issue 531, 15 May 1933, Page 5

TARIFF TRUCE

(British Official Wireless)

GENTLEMEN'S AGREEMENT NOT TO ADOPT NEW MEASURES IN OPERATION ON JUNE 12

Rugby, May 12. A communique issued by the Organisation Committee of the Monetary and Economic Conference states the fdllowing resolution was unanimously approved by the committee: - "The Governments of the United 'Kingdom, Germany, Italy, Japan and Norway represented on the. organising committee, afe convinced that it is essential for the successful conclusion of the conference that the measures of all kinds which at the present time misdireet and paralyse international trade, should not he intensified pending an opportunity for the conference to deal effectively with the prohlems created, and they therefore recognise the urgency v'bf adopting at the beginning of the ■conference a tariff truce, the provisions of which shall be laid down by a common agreement "The Governments being further convinced that immediate action is of great importanee, strongly urge all other Governments participating in the conference to agree that they will not before June 12, nor during the proceedings of the conference I adopt any new initiatives which might increase the difficulties now arresting international commerce, subject to a provision that they retain the right to withdraw from this agreement at any time after July 31, 1933, on giving. one month's previous notice to the conference. "It is recognised among the memhers of the orgariising committee that good faith is the. essence of the rej solution, which constitutes a 'gentlemen's agreement.' " The resolution is to come into immediate effect by the signatories, and Sir John Simon is at once. communicatirig its terms to the other nations and inviting them to take similar action.