REMOVING OBSTACLES TO WORLD TRADE

Press, Volume LXXII, Issue 21907, 7 October 1936, Page 9

REMOVING OBSTACLES TO WORLD TRADE

BRITISH PROPOSALS TO LEAGUE

STUDY OF RAW MATERIALS

PROBLEM URGED

RUGBY, Qctober 5

A call for the complete removal of exchange restrictions and quotas so that international trade could attain increased prosperity was made by the Financial Secretary to the British Treasury (Mr W. S. Morrison) in a speech to the Economic Committee of the League of Nations. , , Mr Morrison said that the British Government would be faced by very strong pressure from certain interests in the United Kingdom to counteract the intensified competition which would result from devaluation on the Continent. Such pressure would be difficult to resist, and he called upon the other Governments to help the British Government in this respect. Before the committee’s business concluded he hoped to submit for consideration two ‘ resolutions, the first to .cover exchange restriction and quotas, and the second about commercial .access to raw materials, lie suggested the appointment by the council of the league of a committee composed of representatives of the economic and financial committees of the league, and other qualified persons, to undertake the study of the entire problem of raw materials, and to furnish the league wilh a report. The French Minister for Commerce (M. Bastid) said that France 1 oped that other countries would follow her example in bringing about a new monetary system. This was necessary to assist in the economic recovery of the world. In reducing one-quarter of its quotas and its customs tariffs, the French Government had made a gesture to the world, but this could not have been done without the realignment of the franc. Other countries would have to reciprocate. The French Government was willing to take the necessaiy measures to liberate capital and to make the circulation of money and goods easiei'. On Mr Morrison’s proposal, the Minister lor National Economy in France (M. Spinasse) was appointed rapporteur of the*work committee to the league assembly.