VALUE OF GENOA.

Taranaki Daily News, 25 May 1922, Page 5

VALUE OF GENOA.

SOME GOOD WORK DONE, THE PEACE PACT. yOICE OF By Telegraph.—Press Amn.—Copyright. Received May 24, 9.30 p.m. London, May 23. Sir Joseph Cook (High Commissioner for Australia), interviewed, said the Genoa Conference in some respects was incomplete, but it was not a failure, as some of its enemies proclaimed. Its incompleteness related principally to the relations of the Powers with Russia and that difficulty arose from the incompatibility of two fundamentally different systems of Government. Lenin and Trotsky being absent it was necessary to refer matters to Moscow, where the atmosphere was not conducive to agreement or conciliation with the conference. Nevertheless the gains were very considerable, notably the pact of peace, the proposed currency stabilisation, and the proposed European cooperation for the supply of credits, and also the financial and economic de* cisions. The peace pact unfortunately was only temporary,.but nevertheless it was valuable. It was sometimes forgotten that there were a million armed men on the Russian borders and therefore even a pact ror nine or twelve months was an important step towards the world’s pacification. The finance commission agreed that the nations should balance their budgets without inflating currency. On both the finance and economic commissions there were crucial questions affecting Australasia. Many nations unsuccessfully endeavored in their own interests to establish an international free gold market, which was contrary to Australian interests. Several smaller European nations endeavored to secure the regulation of exports and had those proposals been carried Australia would have been hampered, but fortunately relaxation was secured. Sir Joseph Cook concluded: “My experience at Genoa emphasises the necessity for the Dominions being directly represented at these conferences, otherwise there is a danger of questions affecting the Dominions being decided without sufficient consideration being given to the Dominions’ point of view.” He referred to Mr. Lloyd George’s sympathetic attitude towards the Dominions’ views and also paid a tribute to hie strenuous efforts to solve the problems of Russia and Germany and create a better world atmosphere.—Aua.-N.Z. Cable Assn.