JOINT STATEMENT

Evening Post, Volume CXV, Issue 106, 8 May 1933, Page 7

JOINT STATEMENT

AMERICA AND ITALY

•REFERENCE TO GOLD

WASHINGTON, May 6. An assertion that a truce in the field of tariffs and other obstacles to international trade is essential if the World Economic Conference is to begin with any hope of success was made on Saturday in a joint statement by President Roosevelt and Signor Guido Jung, the Italian Finance Minister. , The statement proceeded:— We have found ourselves in the closest agreement on many <»ther measures to re-establish the economic life of the world, and are both determined to approach the problems of the World Economic Conference with the firmest resolve to bring its leaders to success. We are in agreement that a fixed measure of exchange values must be reestablished in the world, and we believe this measure must be gold. ■ .The communique is one of the most illuminating issued during the series of conversations between the representatives of foreign Powers and President Boosovelt. PUBLIC WORKS PROGRAMMES. President Eoosevelt said that political tranquillity was essen-tiar for economic stability. A suggestion that public works programmes undertaken for the benefit of the unemployed should be synchronised was made. It was recommended that the central banks of the various nations should take concerted action in an attempt to provide such adequate expansion of credit as may be necessary to support constructive work, avoiding as much as possible the use of credit for illegitimate speculative purposes. Previously in a joint statement issued by President Eoosevelt and Senor Tomas le Breton, Argentina's envoy to Washington, the conversations expressed a similarity of views between the United States and Argentina.