WORLD CONFERENCE
ME. MACDONALD'S VIEWS
NEED FOR AGREEMENT
LONDON, July 27,
Mr. Mac Donald, in his closing speech at the World Conference, said that tho need for agreement was greater than ever, but the mere meeting of the Conference had contributed .to,, a trade revival. Tho sudden interruption of the Conference's work, which had begun well, by tho currency problem had taught tho valuablo lesson that, unless the nations recognised the importance of the international aspect oi! certain facts, the only exit from the' present position might be disastrous, perhaps revolutionary, and a series of State and private defaults.
The deliberations regarding the monetary problem could not be postponed indefinitely, said Mr. MaeDonald. Prosperity depended on responsible cooperation, not irresponsible independence. International monetary adjustment could bo reached if each country agreed to ratios in international exchange value and maintained' them against speculative market fluctuations. The greater part of the Conference's deliberations centred in settling prices, round a point ; corresponding with oosts. An increase iv the effective consuming demand was necessary to a permanent improvement.
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Bibliographic details
Evening Post, Volume CXVI, Issue 25, 29 July 1933, Page 11
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174WORLD CONFERENCE Evening Post, Volume CXVI, Issue 25, 29 July 1933, Page 11
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