WORLD PLANNING URGED

Press, Volume LXXI, Issue 21387, 1 February 1935, Page 11

WORLD PLANNING URGED

AMERICAN PROPOSAL INTERNATIONAL QUOTAS OF PRODUCTION MINISTER'S CRITICISM OF (i OLD-BUYING POLICY (.I'.N'iTL,.U J'RESS ASSOCIATION'— Bi* ELECTRIC TELE GR A I'll ■ — C 0 V TKIG i IT.) (Received January 31, 9.20 p.m.) WASHINGTON, January 30. Mr Daniel C. Roper (Secretary for Commerce), appearing before the Senate Agricultural Committee, urged the creation of an international board to allocate, country by country, the world's output of raw and finished goods, each receiving assignments of its part of the goods for world consumption. "If these assignments were given and tin; nations of the earth, through some regulatory power, could compel member nations to stick by their quotas, over-produc-tion and surpluses would be wiped out in a short time."

He suggested as a preliminary step the creation of a Cotton Economic Council, which would disseminate advance information on cotton consumption. Mr IT. A. Wallace. (Secretary for Agriculture) warned the committee against America's gold-buying policy as an attempt to make American imports balance exports. "It does not seem likely Ihat we can continue to import gold in large volume, partly because we have such a large part of the world's supply already, and partly because such a course would probably mean new monetary chaos abroad, from which we stand to lose more than we could gain. "We are approaching the end of the period when we can continue to trade by stoppage expedients. We now have to face either a contraction of our excess of exports, or we must make up our .minds to bring iii larger imports in order to make it possible to continue our large export trade."