WORLD ECONOMIC CONFERENCE.

Press, Volume LXIX, Issue 20898, 4 July 1933, Page 9

WORLD ECONOMIC CONFERENCE.

ADJOURNMENT DANGERS. EFFECT OF UNITED STATES ATTITUDE. 1 II'KITKD re BUS AtfhOl.'U'l lOS - FIT EI.KCTHIC 'tr.i.zanwa - coi-YR icmr.) LONDON, July 2. A whole series of World Economic Conference discussions was held this afternoon in consequence of the unexpected setback received from President Roosevelt. The first took place when Mr Ramsay Mac Donald returned to No. 10 Downing Street from Chequers, where he intended to stay till tomorrow. He first had a long talk with Mr Cordell Hull (leader of the American delegation), and then with Mr Neville Chamberlain (Chancellor of the Exchequer). Later the whole British delegation assembled and discussed the situation for an-hour. When this was over Mr Chamberlain went to the Treasury and had a long talk with the representatives of the gold countries—France, Italy, Belgium, Switzerland, and Holland. No announcement of any decision was made. The "Observer" says: "If the conference is adjourned it will be dead, and so will the faith of half the world in orderly government and human co-operation." The "Sunday Express" says: "Mr Roosevelt is right. The gold countries are trying to bolster up a situation which should be allowed to find its true level." Empire Influences. The "Observer's" Paris correspondent says: "It is believed here thut Great Britain is being restrained byAustralia and Canada, which are under the influence of the dollar, from attaching the pound to the franc unless the dollar is included in the combination, and that the utmost Great Britain will do is to form an intermediate group with the Dominions between the gold countries and the United States." Mr Roosevelt's rejection of the currency scheme has rekindled the pessimism which prevailed early last week. Again the threat is heard that an early adjournment of the conference is likely, but all the diplomats suggest that such talk is rash until Mr Cordell Hull reveals Mr Roosevelt's policy to-morrow.

TANGIBLE RESULTS WANTED. FRENCH SET LIMIT AT KM) OF JI'LY. PARIS, July 2. All rumours of the French intention to withdraw from the conference have been dissipated by the announcement that M. Georges Bonnet is returning to London to join in the conference deliberations on Monday. It is understood that he received the Cabinet's instructions to Work for a stabilisation agreement With Great Britaih and the European powers, for later submis* sion to the United States. Those well-informed declare that the Daladier Government has decided that if the has failed to produce tangible results by July 31 France will withdraw frorti the Customs truce and impose a 15 per cent, surtax on American goods, as compensation for the devaluation of the dollar, just as she did on British goods when Great Britain abandoned gold. THE TARIFF TRUCE. NEW ZEALAND AGREES. (Received July 4, 12.30 a.m.) LONDON, July 3. New Zealand has signified its adherence to the tariff truce.