THE WORLD'S ECONOMY

Evening Post, Volume CIV, Issue 144, 15 December 1927, Page 7

THE WORLD'S ECONOMY

CONFERENCE IN LONDON

PROBLEMS DISCUSSED

(United Press Association.—Copyright.) LONDON, 14th December.

Welcoming delegates to a confer-' enco in London at the Guildhall arranged by 'he League of Nations Union for the purpose of discussing the proceedings of tho Economic Conference at Geneva, Sir Philip Cuuliffe-Listc ■ said it was most important that all members of the League' should carry out the agreements already made. The.ratification of the past economic conventions was by no moans universal. Effective progress was only possiblo if tho aetiou which - c economic organisation of the League undertook represented the will of the nations as well as the willingness! of the Governments. DEFECTS OF NATIONALISM. M. Theunis, who presided at the Economic Conference, pointed out that while world production was now greater than before tho war, such increase was not general. There was a decrease in Jiuropc. against a relatively large increnso in JSk.rth and South America, Australia, ahd the .^ar" East. Europe was suffering from maladjustment as a consequence of post-war political tendencies, which emphasised nationalism and aimed at self-sufficiency, ignoring interdependence. .

Air. Philip Snowden said the United (states seemed to be approaching satur.ation in the home market, and was seeking: investments for surplus capital in foreign markets. Ho expressed the opinion that when America changed from a debtor to a creditor nation the question of high tariffs had become acute, with a consequent influence upon the tariff policy of all other countries. EMPIEE OE EUROPE? Mr. Walter Runciman, former President of the Board of Trade, said that failing free trade within tho Empire which he feared was not practical politics at present, the best thing would be free trade with Europe. The discussion. was adjourned.