WORLD ECONOMIC CONFERENCE.

Press, Volume LXIX, Issue 20907, 14 July 1933, Page 11

WORLD ECONOMIC CONFERENCE.

♦ COMMITTEES AT WORK. ESSENTIAL ISSUES NOT TOUCHED. (BRITISH OFFICIAL WIRELESS.) RUGBY, July 12. Several conference sub-commit-tees are sitting to-day, but one delegate declared that the conference is now in a twilight sleep, and many consider that it should have adjourned last week, as there is no indication of the possibility of approaching essential issues. The official report of the bureau meeting reveals that the Mexicans proposed the creation of a permanent commission to study the shelved monetary issues. Mr Mac Donald, however, considered the proposal premature.

Discussion on Tin. The Economic Commission's subcommittee which is considering .the co-ordination of tin production, considered a memorandum circulated by the British delegation containing a letter from the International Tin Committee, representing five countries, which control 90 per cent, of the world's production. The letter urged co-operation by the United Kingdom in an international scheme for control. Despite the rapid and serious diminution in tin consumption since the scheme operated in 1931, the committee confidently anticipated a substantial reduction of excessive stocks and the adjustment of production to demand. The price had meanwhile risen, aided by powerful support from the International Tin Pool.

The British delegation proposed that the sub-committee should consider the general question of the regulation of tin production, with particular reference to the continuation, and possible extension, of the existing financial agreement, which expires in 1934 unless renewed. The sub-committee decided to establish a committee on tin, including the parties to the agreement and other producing countries, and three consuming countries —Germany, Italy, and the United States. The sub-committee will next examine cocoa, coffee, and produce, as well as sugar.

If possible, the plenary meeting of the Economic Commission to-mor-row will discuss the French proposal on public works, and two Soviet oroDOsals for a pact of economic nonaggression, as well as the auestion of extending the import possibilities of various countries.

Against Restrictions. Mr Mac Donald has received a series of resolutions adopted last month by the Baltic International Maritime Conference, representing 21 maritime countries, urging the abolition of exchange restrictions, the lowering of excessive tariff barriers, and the removal of quotas. The resolutions also express the view that regulation of production by artificial restriction is undesirable. , A . Another resolution characterises shipping and shipbuilding subsidies as harmful to international trade, and states that "it is of vital world importance that they be stopped, or materially diminished. This specially applies to shipping subsidies, as a condition is developing whereby shipping, which should by nature be the most international of all trades, is becoming a Government function, depending on Government aid for its existence." UNEMPLOYMENT RELIEF. PUBLIC WORKS SUGGESTED AS CURE. HIGHER WAGES PROPOSED BY AMERICA. (Received July 14, 1.20 a.m.) LONDON, July 13.

The economic commission of the conference met in public to discuss the French proposals for the relief of unemployment by means of public works. The American delegation presented resolutions favouring shorter hours of labour with a scale of wages increasing in proportion to the augmentation of production.

MR ROOSEVELT'S NEW SURPRISE. WORK OF MONEY COMMITTEE HELD UP. LONDON, July 12. Mr Roosevelt has again astonished his own delegation and startled the World Economic Conference, Senator K. Pittman being compelled to announce that he had received instructions that America regarded this an inopportune time to participate in a debate on the restablishment of an international monetary standard. The sub-committee dealing with the matter had previously agreed to a discussion, subject to the Americans receiving Washington's permission, which was regarded as certain. The elimination of this business has halted proceedings until the situation has been reported to the bureau. PRESIDENT DEFENDED. NO SHORTAGE OF WORK FOR CONFERENCE. LONDON, July 12. Mr Laurence Steinhardt, the American Minister in Sweden, Mr Roosevelt's third envoy to the conference, has arrived at Southampton. He declared that it was grossly unfair to say Mr Roosevelt had wrecked the conference. "The agenda," he says, "contains sufficient to discuss without touching the thorny question of stabilisation. I am bearing no further instructions, as the President's opinions are un-

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