DIVERGENT VIEWS

Dominion, Volume 26, Issue 29, 28 October 1932, Page 11

DIVERGENT VIEWS

Editor & Prime Minister ECONOMIC PROBLEMS Task of World Conference (Rec. October 27, 5.5 p.m.). Official Wireless. Rugby, Oct. 26. Sir Walter Layton, a well-known economist, and editor of the “Economist,” who has resigned from the Preparatory Committee of the World Economic Conference, explains to the Prime Minister in his letter of resignation that in a recent interview with the Chancellor of the Exchequer, Mr. Neville Chamberlain, he found that, although on many important points there was agreement, on others the views of the Government and himself were so different that he could not fully represent it on the committee. He had found that the Government believed that reasonable freedom of trade could be restored through international negotiations with foreign countries within the limits of the Ottawa agreements and subject to strict insistence on most-favoured-nation rights. In his own opinion that would have little effect on the protectionist system of the world. What was wanted was that Britain, whose attitude would be almost a decisive factor, should press for plans on much bolder and broader lines, in cooperation with low tariff countries and those to whom the restoration of foreign trade was all-important. In reply the Prime Minister wrote regretting Sir Walter Layton’s resignation and saying that he had hoped for Sir Walter’s assistance, so that his known divergence of aims far from hindering the Government would really have helped it. He said that Sir Walter had misinterpreted the Government’s attitude. “I think,” wrote the Prime Minister, “the main difference between us is our varying estimates of the progress to be secured on the lines you favour, which depends on the policy of other countries as well as our own.” The Prime Minister expressed a hope for Sir Walter Layton’s assistance as the conference develops on any points on which he has well considered views. WHEAT ACREAGE Argentina’s Suggestion (Rec. October 27, 7.5 p.m.) Buenos Aires, Oct. 26. Argentina’s representative on the World Economic Conference Preparatory Committee has been instructed to suggest that an agreement be negotiated between the United States, Canada, Argentina, and Australia to make a proportionate decrease in wheat acreage to bring production within the demands of consumption. The Minister of Agriculture said that such an agreement would eliminate the possibility of increased production and restore a fair price. “Something of the sort is needed,” he said, “because the world-wide unemployment is preventing Increased consumption.”