DEAD HOPES

Rotorua Morning Post, Volume 2, Issue 587, 19 July 1933, Page 5

DEAD HOPES

(Press Assn.—

ALL THAT REMAINS , = ' *••:.-• ■ >: POSSIBILITY OF FORMING A STERLING ^ BLOC OPINION DOUBTFUL

-By Telegraph — Copyright).

London, July 17. About dll that remains to inspire the Dominions regarding the conference hopes, is the possihility of the formation of a sterlixig bloc, regarding which the Empire delegations met this afternoon to see whether the project appeals to Britain. If she is agreeable it is taken for granted that the Argentine, Denmark and Scandinavians will automatically attach themselves. It is prophesied that participants would undertake not to operate individual exchanges to one another's detriment in which case Anstralian and New Zealand depreciations would come up for discussion. On the other hand should Britain decide against the bloc, anxious eyes v/ill be turned to the side of the dollar. Nobody cares to express an opinion as to what would result if sterling went in pursuit of the dollar in the mad race towards depreciation. Consequently to-day's Empire meeting is one of the most momentons of the conference. An example of the. atmosphere and inconclusiveness permeating the conference, is that the Empire meeting deferred till to-morrow the discusrion on a sterling bloc and instead considered the position of dairy produce in the direction supported by Australia and New Zealand, having its study withdrawn from the agenda of the Economic Commission. Britain at present is unable. to decide thereon. Nor was Britain to-day ready with new proposals for the further regulation of Dominion supplies. One delegate described it as a stage of "humming and haaing." The problem will be further discussed to-morrow when also there will be renewed talks on wheat, both with the Danubians and the consumers.