WORLD CONFERENCE

Evening Post, Volume CXV, Issue 81, 6 April 1933, Page 11

WORLD CONFERENCE

THE ECONOMIC MAZE

AMERICA PREPARING

BUSINESS MEN'S VIEW

(F^om "The Post's" Representative.) NEW YOBK, March 2. The International Chamber of Commerce submitted to the Preparatory Commission, agenda for -the World Monetary and Economic Conference, and pointed out that the Conference was faced with the following disharmonies: — (a) The originaland present weight of debt and interest obligations. (b) Price of "primary commodities, and price of manufactured goods, both wholesale ■ and retail. (c) The existing volume of production in different staple commodities entering into world trade. (d) The distribution in different countries of the available gold reserves of the world.. : (c) The disharmony between the stable and fluctuating rates of exchange. (f) Unwillingness of international creditors to receive payment for loans of goods and services. s ' The council feols that it is desirable that the Conference should consider the possibility of establishing some new economic machinery, capable of promoting and accelerating the conclusion of 'agreements between creditor and debtor, of preventing unjustified default, and of recommending those measures of relief, if any, which the circumstances may require. Each Government empower its Central Bank to ascertain, as far as possible, the annual long and short term international debt service on public and private account between tho country in question and the rest of the world, and the League of Nations should correlate this information. The fall in prices can be dealt with by controlled production, through national, and international agreements.