MARKETING OF BUTTER.

Press, Volume LXIX, Issue 20909, 17 July 1933, Page 9

MARKETING OF BUTTER.

DISCUSSION AT WORLD CONFERENCE.

NEW ZEALAND'S ATTITUDE

(SprcA.li to I'n-ited Ptkss Association, Xev/ Zealand.) LONDON, July 14. The World Economic Conference committee on the co-ordination of production and marketing to-day discussed the proposal of the Polish delegation that the butter exporting countries set up without delay an international dairy council for:

(1) Studying means of reducing competition on markets. (2) Ensuring better distribution of butter and preventing gluts in certain seasons on certain markets. (3) Studying the possibilities of the better standardisation of butter.

The Hon. R. Masters, on behalf of New Zealand, recalled that the conference had already rigidly accepted the principle that agreements for the co-ordination of production and marketing must first command general assent among the various countries, and the support of a substantial majority of the producers themselves, and must also have the co-operation of the non-exporting countries, and the willing consent of the consuming interests in the importing countries. He stated that the Polish proposal was to set up a council without delay to do specific things. No provision had been made for securing the feeling of the countries concerned. He could say that the proposal to set up the council did not meet with the approval of the New Zealand delegation. Investigation Proposed.

Mr Masters added that while, like the British delegation, he adhered to the principle already enunciated, that there should be no alteration in the marketing of dairy produce, he was not averse to the settingup of a drafting committee to explore the position; but such a committee should have its scope extended to enquiring into the effect on the market r» r butter substitutes, such as margarine. While not agreeing with the Polish resolution, he was disposed to give support to the suggestion of the Italian delegation, which would in effect leave the matter for a joint recommendation at some future date from the International Institute of Agriculture, the International Dairy Federation, and the Economic Committee of the League of Nations, regarding measures for the regulation and co-ord-ination of production and marketing of dairy produce. Mr Masters said New Zealand favoured Mr W. E. Elliot's proposal of a sub-committee to consider all the proposals and report next week. This was agreed to, and New Zealand will be represented on the sub-committee.

I ADJOURNMENT OF THE CONFERENCE. LAST SESSION ON JULY 27. LONDON, July 14. A plenary session of the World Economic Conference will be held on July 27 for the purpose of adjourning the conference. NEED FOR CENTRAL BANKS. (naiTlSn OFFICIAL WIRELESS ) RUGBY, July 14. Resolutions relating to the working of central banks were adopted practically without discussion by the sub-commission of the World Economic Conference dealing with permanent measures for financial reconstruction. The final resolution is: "The sub-committee considers it essential, in order to provide an international gold standard with the necessary mechanism for safe and efficient working, that independent central banks, with requisite powers and freedom to carry out an appropriate currency and credit policy, should be created in such European countries as have not at present an adequate central banking institution." The sub-committees and sub-com-missions of the conference have been asked to conclude their work by July 21.

WORK FOR COMMITTEES. LONDON, July 14. Senator K. Pittman (United States) has submitted a tentative silver agreement to Mr S. M. Bruce (Australia), and to the Japanese delegates, who are communicating to their governments. Thirty-five out of 50 sugar countries have agreed to the plan of government control of export under license for five years, from January 1, 1934. The plan will be submitted to other countries. The prospects of a wheat agreement are less hopeful- The Danubian states have agreed on toe limitation of export to 50,000 000 bushels, which the four chief exporting countries consider excessive. The experts will re-examine the position.

JAPAN AND SUGAR CONVENTION. TOKYO, July 15. Japan is unwilling to enter the proposed sugar convention.