WORLD ECONOMIC CONFERENCE.

Press, Volume LXIX, Issue 20916, 25 July 1933, Page 11

WORLD ECONOMIC CONFERENCE.

♦ BITTER COMMENT ON FAILURE. j MR ROOSEVELT BLAMED. | .viTr.ii pr?nss AssociATrriY—electric ] TELEGRAM—COPI'MGHT.) ! (Received July 24, 7.40 p.m.) LONDON, July 24. | The '"Financial News" says thai j the World Economic Conference has | dissolved unwept and unhonoured, I its failure to achieve positive re- ! suits complete beyond the wildest j dreams of pessimism. Ninety per | cent, of the responsibility rests on the immovable Mr Roosevelt for his abrupt rejection of stabilisation. The "Morning Post" says: "After this colossal failure we hope there will be a close season for world conferences. Envious and ignorant demagogues have conducted a campaign of slander against the 'old diplomacy,' but its results were infinitely superior to the present fashion of reducing the world to a debating society.'' 1 i J SILVER AGREEMENT. ■ | STOPPING FLUCTUATION j OF PRICE. j (Received July 24, 9.10 p.m.) LONDON, July 23. The text of an agreement between the delegates of India, China, and Spain, as holders of large stocks or users of silver, and Australia, Canada, the United States, Mexico, and ; Peru, as the principal producers, has j been circulated. ! The treaty may be ratified before 1 April, 1934. It is designed to mitigate the fluctuation of silver prices, i and permits India to sell a reason-; able quantity of her surplus silver, | while the other signatories refrain j from selling during the currency of | the agreement—four years. Aggre- j gatelv. in proportions to be fixed, i they may purchase or withdraw: from the market annually 35.000,000 i fine ounces of their mine production, beginning in 1934.