AMERICAN TRADE

Wairarapa Times-Age, 27 July 1940, Page 5

AMERICAN TRADE

PROPOSALS AT HAVANA NEW WORLD ECONOMIC CO-OPERATION. QUESTION OF COLONIAL POSSESSIONS. (By Telegraph—Press Association—Copyright) HAVANA, July 26. Argentina issued a project declaration at the Pan-American Conference regarding colonial possessions in the Western Hemisphere, citing international law and the principle of selfdetermination as a necessary basis for any action taken in connection with those areas. It repudiated the right of conquest. The United States submitted to a second consultative meeting the American Foreign. Minister’s project to prevent totalitarian trade inroads on the Americas by strengthening the New World economic co-operation. The proposal, which deals with the disposition of crop surpluses as well as monetary and foreign exchange matters, is in line with President Roosevelt’s cartel plan. NAZI VIEWS DENUNCIATION OF CARTEL PLAN. BERLIN, July 26. “The United States must abandon the idea that she can force her economic conditions on Europe,” declared the German Minister of Economic Affairs, Herr Funk, whom Marshal Goering has ordered to prepare to reconstruct German and European economy after the war. “We do not need North American intermediaries to enable us to trade with the South American States,” he added. “That trade must be based on free agreements with the South American States, or there won’t be any trade.” He asserted that gold would cease to be the basis of currencies within the German political and economic spheres. The Reichsmark would be predominant in Europe, and the United States would be compelled to devalue the dollar. Germany did not intend to re-intro-duce an entirely free currency or to institute a currency union throughout Europe, because that presupposed a customs union. < Germany would employ after a- victorious war the same methods for European reconstruction which resulted in her great economic success before and during the war.