GENOA CONFERENCE.

Press, Volume LVIII, Issue 17433, 19 April 1922, Page 7

GENOA CONFERENCE.

RAW MATERIALS PROBLEM.

THE ITALIAN RESOLUTION.

V ,? y i c »V l^-Pr, ; s « Association— Copyright.) (Australian and *.A. Cable Association.) GENOA, April 17. In reference to the raw materials resolution, a misconception arose through the Italian Economic Committee holding a meeting in the Palazzo Reale. It was this committee which adopted the resolution, not tho conference sub-com-mission, but, as Signor Baldeso and Signor Carbini, who promoted the motion in the Italian .committee, are members of the Conference Economic Committee, Italy's action oyer raw materials requires watching. Sir Jpseph Cook toot immediate action to investigate the matter, and .brought the proposals to the notice of Signor Baldese's colleagues. [A previous message stated :—Tho Economic Commission had a lengthy discussion on the question of the exchange of raw materials. Signor Baldese (Italy), n Socialist member of -tho Chamber of Deputies, submitted the following motion: —"That the absence of economic equilibrium has caused rivalry between nations; therefore, monopoly is over. Raw materials will require rational regulation, both in the interests of producing countries and States wishing to produce raw materials; and that an international consortium should control the price and distribution in regard to wool, cotton, coal, flax, and hemp." The sub-commission approved the motion in its fundamental principles, with some reserve on tho proposition to establish an international consortium.]

RUSSIAN DEBTS.

ATTITUDE OP JAPAN. TOKiYO, April 16. The "Msunielii Shimbun" reports that instructions havo been sent to the JaDanese delegates at the Genoa Conference to insist that Russia must rccotrniso liability for the 250,000,000 yen loaned to the Romances and M. Kei> ensky direct, plus 60,000,000 yen for Russian debts for war supplies, for which the Japanese Government gave a guarantee, as well as 69,000,000 yon of unguaranteed debts. ' The question of tho disposition sf 60,000,000 yen which is lying in the Yokohama Bank to the credit of the Czarist Government requires settlement. Tho Japanese creditors desire that the money be applied to the payment of unguaranteed debts, and under no conditions will tbe Government permit this amount to leave Japan.