GENOA.

Evening Star, Issue 17959, 4 May 1922, Page 6

GENOA.

the Russian difficulty. FRANCE STILL OESTROGTIHO. LLOYD GEORGE’S SIGNIFICANT STATEMENT. REGROUPING OF POWERS A POSSIBILITY. Press Assoc-intion —By Telegraph—Copyright. GENOA, May 3. Tho French attitude caused a sensation yesterday. At a meeting of the Political Sub-commission in tho afternoon, the Belgians, who were absent previously, endeavored to secure the omission from the draft of a proposal giving tho Russians the option of restoring or paying compensation for private property. The Belgians demanded restoration. M. Barrel, acting on behalf of M. Barthou, stated that ho was instructed from Paris, after hi, Barthou's departure, that the French approval should not be given until M. Burthens return. -Mr Lloyd George said that such an announcement was unexpected, as IVL Barthou, before departure, was ignorant of Paris's decision, M. Barthou confnmcd this view. Tho Sub-commission adjourned, after which the situation was informally considered. Two suggestions were made—first, that a telegram should be_ sent to the French. Government explaining that (he draft was approved by M. Bafthou and the other delegations, that it represented a compromise, and that to introduce amendments now would necessitate reconsideration do novo, and urging tho French Government to confirm it without further amendment! secondly, the possibility of introducing some words in the critical article dealing with private property to enable the French delegation to let the document go forward. To-night when the Commission resumed tho French moved an amendment to this article adding further safeguards with regard to tho restoration, of property. Mr Lloyd George said tho amendment added weight to tho article, which was already overweighted. That addition might well make the difference between a settlement and non-settlement. He was profoundly anxious to maintain (ho co-opera-tion of France, and ho would 1 accept the amendment in spile of the danger if Franco agreed to pass the memorandum. Ho added that failure to agree might mean failure to achieve the pacification of Eastern Europe, with consequences upon tho regrouping of the Powers which it was impossible to foresee. Ho appealed to their old Allies and comrades to lot the first draft go through. M. Barrel said ho was profoundly touched by the appeal His position was a most difficult one. He had dear instructions not to approve until ho had received instructions from Paris. Tho French, finally agreed to send the documents to tho Soviet with the reservation that the French would not give their final approval pending instructions from Purls. Mr Lloyd George then accepted tho amendment. Tho Belgian delegates have written to Signor Facia, consequent on (ho Allies’ attitude towards Russia, withdrawing all tho offers they made in their preamble to the Note to" Russia, including the subscription of £4,000,000 to the consortium. —A. and N.Z. Liable. THE ARBITRAL COMMISSION. WASHINGTON, May 2It is stated 'authoritatively that President Harding favors Mr Taft's acceptance of the Genoa invitation to name a chairman for the Arbitral Commission to control Russia's deb Is. Ho interprets tho invitation ns a tribute to American fairness. —A. and N.Z. Cable. [Mr W. 11. Taft, a former President, ia Chief Justice of tho United States.] TREATIES OF COMMERCE. ECONOMIC COMMISSION’S PROPOSAL. GENOA, May 3.

Tho Economic Commission adopted a motion by the Swiss delegates recalling the principles of equitable (rea 1-ment in commerce contained in Article 23 in tho League of Nations Covenant. It recommends the resumption of commercial relations on the basis of tho treaties of commerce, founded <m tho one hand on a system of reciprocity adapted to the special circumstance*!, and containing on tho other hand the possibility ox ‘‘ the .most favored nalio i ” clause. A British preamble was adopted to this motion setting forth that most of the countries represented at tho conference, while recognising the temporary difficulties which may preclude the general adoption of the most favored nation clause, in all cases affirm their conviction that this should bo the goal to bo aimed at. Trance dissented from tho motion, suggesting that Britain was regarding tho favored nation treatment too much as a doctrine -and as the only remedy for European difficulties. There were other remedies, such as reciprocity and commercial treaties.—A. and N.Z. Cable. [lncluded in Article 25 of the Covenant of tho League of Nations is a declaration that members of the League will make provision to secure and maintain freedom of communications and of transit and equitable treatment for- the commerce of all members of the League. In this connection tho special necessities of the regions -devastated during the war shall bo pome in mind.] k PESSIMISTIC REPORT. CONFERENCE LIKELY TO BREAK HP LONDON, May 3. (Received Slay 4, at 11.30 a.m.) The ‘Morning Post’s’ Genoa correspondent states that tho conference is on the verge of dissolution. —A. and N.Z. Cable. FIN 11XC1AL COMMISSION. REPORT ADOPTED. GOLD-AS COMMON STANDARD. LONDON, May 3. (Received May 4, at 10.30 a.m.) Tho Genoa Ccnfcroncc unanimously adopted the Financial Commission’s report. Sir L. Worthington Evans, in presenting it, said- that the Commission had not been able to provide a complete and immediate cure; but a ddilute stage towards recuperation had been reached. Referring to the currency, ho said the report advised that gold shall -he adopted as a common standard. Tins was not immediately -possible, but it was tho ultimate object. The essential requisite was the achievement by each country of stability in the value of its currency. Tho currency resolutions embodied a principle for preventing undue fluctuations in the purchasing power of gold; therefore the purchasing power of tho currencies should bo based on gold. He hoped that the conference of central banks, which would greatly influence prices, would result in such coordination of credit policy throughout, -the world as would enable- the banks to stabilise a mure general level of prices. Sir L. Worthington Evans sa-i-d that meanwhile the Hub-Commission, had made a useful proposal for technical improvements in tho exchange markets, which would facilitate purchases and sales, and would limit the risks which seriously interfered 1 with trade. Referring to tho International Corporation, ho said that the capital to bo subscribed was jD£O,CGG,CuO. It would be controlled by tho Central Internationa] Corporation," which would; bo registered under a British company, and would be managed by directors to be nominated bv the affiliated national companies. "M. Picard (France) said that if the banks studied their 'vast programme with com-

pleto independence of mind ; they would , work much-needed reforms.—A. and N.Z. Cable. TRANSPORT COMMISSION. LONDON, May 3, (Received May 4, at 10.30 a.m.) Sir Lloyd George, in alluding to the Transport Commission’s report, said that the railway managements would) meet in Pan’s at an early date to put into operation technical measures within their competence, and to agree to a recommendation for measures relating to Government action.—A. and N.Z. Cable. THE POSITION SUMMARISED. EYES ON PARIS. LONDON, May 3, (Received May 4, at 8.50 a.m.) The Australian Press Association’s Genoa correspondent says that the plenary session was dull, Tho Financial and Transport Commissions’ reports were adopted without alteration. Tho Russians are now considering the Allies’ memorandum. Conference circles do not regard the French action as torpedoing tho conference. When Mr Lloyd George significantly declared that the French amendment might lead to a change in the grouping of tho Powers a doath-liko silence prevailed in tho room. There is belief that the French used the Belgian opposition as the only pretext at hand to withhold approval after M. Barthou had approved, alleging that they would not desert Belgium. Tho Russians arc likely to take tirao before answering tho memorandum. In tho meantime interest centres in what is taking place in Paris.—A. and N.Z, Cable. RUSSIAN DELEGATES’ ATTITUDE. LONDON, May 3. (Received May 4, at 9.15 a.m.) Tho Australian Press Association's Genoa correspondent stales that M. Tchitchcrin, in addressing (he plenary session, said that the Russian delegates would recommend tho Soviet to accept the findings of tho various commissions to the utmost capacity of its power.—A. and N.Z. Cable. THE FRENCH CABINET. BELGIUM’S ATTITUDE SUPPORTED. PARIS, May 5. (Received May 4, at 9.35 a.m.) Cabinet decided to support Belgium’s stand at Genoa,—A, and N.Z. Cable. FRANCE AND BELGIUM. PARIS, May 3. (Received May 4, at 10.5 a.m.) M. Barthou, interviewed before leaving for Genoa, said: “I shall only return hero in tho event of a full agreement of Cabinet, and with the entire approval of my former actions and complete confidence in my future activities.” Tho ‘Matin’ is of opinion that M. Barthou will supply tho necessary soothing explanations. The idea of a disagreement with Belgium is far from cvervone’s thoughts. 'The ‘Journal’ says: M. Barthou came to Paris to urge consent, to Mr Lloyd George’s proposals. lie found himself faced by colleagues seeking information concerning the strange decisions, envisaged at Genoa, and matters concerning Russia. M. Poincare displayed considerable enrpriso thcrcancut. lie informed .Brussels of his decisions, also expressing a desire to seo a complete agreement established between Franco and Bekhan,— A. and N. Cable,