THE CONFERENCE

Rotorua Morning Post, Volume 2, Issue 593, 26 July 1933, Page 5

THE CONFERENCE

I 5 I (gritish Offlcial Wireless)

Lcessity for settling I ihe fundamental i questions Lcommittees report

I (Rec. July 25.) I Rugby, July 24. L seventh and lihal week of | present session «f the World Lence began to-day. The con|L'S future will be fully conPj jjy the Iiureau to-morrow. I gureau will then bave before r t3 0f its two main commisl^hich in turn are based on thp. f, of their many sub-committees. t'gconomic Commission bas allcompleted its report, and this Rjon the Monetary and Financial Ljjsion examined the draft report irapporteur, M. Bonnet in plenIsisaon. I..^d that the initial exchanges l-.j inter-dependence of the Ejty of the problems involved, |le neeessity for settling first ti fundamental questions. jws agreed after an exchange Ifflirs that solutions were for the hcnt impossible land in the cirItlances it would he hetter to Kjone the drscussion. I, sub-conunissions accordingly litoconeentrate on points likely l/jto immediate results. I; first pub-commission, dealing iaimediate measures, adopted a lition relating to indebtedness. iiiscussion of otlier subjeets (fy proceeded to outline the main pffi. R Gold As Standard Psecond pub-commission on perP, measures, has adopted the Psolutions already reported dealiFirstly, with adoption of gold as Ijnnational monetary standard; |iiy, the creation of central banlcs; K'the need for co-operation beIj Eaeh banks; fourthly, their fetionin certain agricultural counito their special eeonomic condiK;snd, fifthly, dealing with silver. Etrrmg to a communication repl regarding the general prinp oi the monetary policy of the pl banks, the report notes that liited States' delegation consid- ■ tle discussion of this question iitae, but the Federal Reserve P would gladly confer at an opporlase with otlier central banks on I:;as of this character, to the exIfiiat thev were compatible with Bri policies. I The Gold Problem fcsab-eommission was unable to tete its report during the present fc regarding the gold exchange Eni, and other methods for ecoBxng gold and the report suggests lieBank of International SettleKiiould examine the problem of Iplfi exchange standard as soon as p'e. Ilijarding the questions reserved ■hrther study the repporteur befcaiyay would soon be found to fcrile views -vvhich are differing Bregards means, but are identical hards the ultimate aim.