GENOA CONFERENCE.

Auckland Star, Volume LIII, Issue 91, 18 April 1922, Page 5

GENOA CONFERENCE.

RAW MATERIALS MONOPOLY. ACTION RY ITALIANS. (By Cable.—Press Association.—Copyright.. (Received 11.30 a.m.) GENOA, Apri_>l7. With reference to the raw materials motion referred to in yesterday's cables, seme misconception arose through the Italian Economic Committee holding a meeting at the Palazzo Reale. It was this committee' which adopted the resolution, not the sub-committee of the conference: but as Baldese and Cabrini, who promoted the motion, are members of the Economic Committee of the Conference, Italy's action over raw materials requires watching. Sir Joseph Cook took immediate action to investigate the matter, and brought the proposals under the notice of. .the other Italian delegates.— (A. and X.Z. Cable.)

Tlie motion submitted by Signor Baldese," an Italian Socialist member of the Chamber of Deputies, was to the effect that the absence of economic equilibrium caused the rivalry between the nations, and therefore monopoly over raw materials would require rational regulation in the interests of both producing countries and States wishing io procure raw materials; also, that the international consortium should control prices of distribution in regard to wool, cotton, coal, flax, and hemp.