WORLD ECONOMICS

Evening Star, Issue 19551, 9 May 1927, Page 6

WORLD ECONOMICS

THE GENEVA CONFERENCE A FRENCH PROPOSAL. CREATION OF PERMANENT COUNCIL. Press Association—By Telegraph—Copyrigh! LONDON, May 9. (Received May 9, at 1.10 p.m.) The Australian Press Association’s Geneva correspondent states:—“l am now in a position to say that all other considerations of the Economic Conference are overshadowed by the proposal put forward last week bjr the French workers’ delegate to the effect that a permanent Economic Council of eighteen members be created, representing different economic interests, to study questions that it considers suitablo to place them on the agenda for special advisory conferences to be held from time to time.”

The resolution also provides for tho creation of special technical conferences to frame international conventions on finance, industry, commerce, etc. Though the French workers' delegate submitted tho resolution, it obviously emanated from tho French Government, which is now engaged actively in canvassing for supportrers.”

“Britain and tho dominions are unanimously against the measure, which aims at putting into the hands of the international body the consideration of matters, many of which are purely of a domestic nature. Conversations took place during the week-end between France and Italy and minor States (adherents of the Powers mentioned), with the object of establishing a block vote on the resolution. In official circles it is considered that this project will become the major item for decision, because if the conference approves of the creation of an approved council, all contentious subjects now on the agenda, of which there are a number, will be referred to tho new body, which will have wide executive powers.” LOWERING TARIFF BARRIERS. GENEVA, May 8. (Received May 9, at 10.30 a.m.) M. Loucheur, at the conference, emphasised that tho suppression of trade carriers by the establishment of a United States of Europe was impossible. Lowering the barriers was possible only by measures which the conference should recommend, including the suspension of tariff rates, also increased production, if necessary by adopting American methods.