WORLD CONFERENCE

Evening Post, Volume CXVI, Issue 23, 27 July 1933, Page 11

WORLD CONFERENCE

WHEN TIMES IMPROVE

AMERICAN EXPERIMENT

CHAMBERLAIN CHEERFUL

(British Official Wireless.) (Received July 27, 11 a.m.) RUGBY, July 26... ■ Speaking on the debate on Public Works expenditure in the House of Commons,- the Chancellor ,of tha Exchequer (Mr. Chamberlain) repudiated the suggestion that th# adjournment of the World Conference was synonymous with its conclusion or completion. It was clear that the Conference was obliged to adjourn without being able to tackle the most important part of its agenda, because conditions intervened after the Conference began wb^ich made it impossible at present to continue the discussions usefully upon some most important points. He entirely agreed that in the circumstances in the United States recently it was impossible for that Government to contemplate a temporary stabilisation of its currency. He'saw no reason to assume that there should not be a reassembly of the Conference when changed circumstances enabled countries again to discuss the currency question in an atmosphere of tranquillity. He still believed the attainment of full national prosperity was dependent on the restoration of international prosperity.

But the United' State's was trying aa experiment on a gigantic scale of extra* ordinary interest. Conditions thcra were more favourable for its success than they would be anywhere else. Ho reminded the House that President Eoosovelt had to face a reduction of wages far greater than had taken place here. It might bo that the experiment wouKkJbe a great success.

■ Eeplying' to the suggestion which was made during the debate for an Empire Currency Union, Mr. Chamberlain pointed out the difficulties of finding the right relation between tho various Empire currencies aud sterling. It was not part of the policy of this country to link sterling at present to gold on the one hand or to the dollar on the other. We must continue to pursue our own course independently in the interests of this country and of the Empire.

Keferring to public works, he re* viewed the schemes already undertaken* and said that the Government was constantly searching for directions ia which it could in this way stimulate industry and restart the wheels.