POINTS IN SPEECHES

Evening Post, Volume CXV, Issue 138, 14 June 1933, Page 11

POINTS IN SPEECHES

SMUTS WANTS EXPERTS GERMAN CALL FOR COURAGE

(Britiaa Official Wireless.) (Koeoived June 14, 10 a.m.) 3UJGBY, June 13. Several prominent delegates took part in a preliminary general discussion at today's session of tho World Economic Conference. While different aspects of world problems were dealt •with by different speakers, there- was in each address a recognition that agreement bad to be reached and vital decisions taken by the Conference unless the world situation was to develop into one of oxtreme and incalculable gravity. It is impossible to reproduce the terms of the 'speeches, but following are some of the points made:— M. Daladier (Prance) said: "We beJievc it is first necessary to put an end-to the'war of money and its instability and give commercial exchange the indispensable guarantee of monetary security." ILLUSIVE VALUES. Signer Guido Jung (Italy) said: "The world can only bo assured by real stability of values. It is useless to create illusive values. Tho stimulus of credit cannot be increased merely by increasing the supply of credit." General Smuts (South Africa) emphasised the need for quick decisions and suggested the formation of two technical expert cqmmittees, one financial and the other economic, to deal witn the most trying economic issues in the agenda of tho preparatory Commission. Viscount Ishii (Japan) said that they had burned the bridge behind them and failure would mean disaster. .Tapan desired conditions which would make possible a general restoration of the gold standard. M. A. Koc (Poland) considered that of all the, problems before them the stabilisation of currency was of fundamental importance and should be kept in the forefront. No artificial measure coijld restore tho prices to where, they were before the crisis. All efforts should be directed tqwards reconstructing the stability of international relationships. Senor Marino (Cuba) said: "If the Conference does not succeed in reducing tho very high rate of tariffs which exist in the world today, it will havo failed in its principal task." DEBTOR AND CREDITOR. Baron yon Neurath (Germany) emphasised the desire of his country to collaborate in the spirit of the King's opening address. He remarked that the interests of creditor and debtor countries seemed to differ and gold standard countries seemed to have other interests than countries which had abandoned the gold standard or which required exchange regulations for tho protection of their currencies. But the Conference in its overwhelming desiro to acknowledge common interests proved most strikingly that all those differences were only differences in' appearance. Industry could not prosper if agriculturo did not flourish. Creditor could not, exist if debtor

perished, and vice versa. Gold cur rency became meaningless if a free circulation of gold was not guaranteed. They must find courage to carry through solutions, while remembering that the success of the Conference was largely dependent upon the fulfilment of great political tasks.