LAUSANNE

Evening Star, Issue 21131, 17 June 1932, Page 6

LAUSANNE

THE CONFERENCE OPENS EIGHTEEN NATIONS REPRESENTED BRITAIN'S PRIME MINISTER LEADS OFF (British Official Wireless.) Press Association — By Telegraph-Copyright RUGBY. June 16. (Received Juno 17, at 1 p.m. During his opening address, as chairman, to the delegates of eighteen nations assembled for the Reparations Conference at Lausanne, Mr Ramsay MacDonald stressed the extreme gravity and urgency of the problems confronting them. Ho said the economic crisis was such that no country could expect to bo immune from its effects. It was a world crisis, and none could stay out of the work of restoration and reconstruction. They were to consider one of the causes of their distress—the financial inheritance of the war—and agreement must be reached regarding it. He cited the report of the Basle experts, which insisted that inter-Go-vernment debts must be revised, and he declared that the urgency of their appeal had been underlined by all that had happened since that report was issued. They must remember, in all their deliberations and bargainings, that the world looked to them not only in need, but with impatience. It was the essence of the task that they should act speedily, for an agreement reached quickly would have an effect a hundred times more beneficial than one painfully and imperfectly secured at the last moment of exhaustion. One principle definitely before the conference was that an engagement solemnly entered into could not be satisfied by unilateral repudiation. He believed that that principle was not challenged by any of the delegates, but it carried the corollary that if there was to he no default engagements which had proved incapable of fulfilment must bo revised by agreement. Mr MacDonald added: “ I believe that a great opportunity now presents itself for us to unite in checking the active influences that are now making for general economic deterioration. If we do this Europe cannot act alone. We must all welcome an assurance that after the present phase is over the United States will encourage us to believe that she will co-operate in an examination, at any rate, of wider problems, and join with ns in devising a policy for the maintenance of civilisation which shall be based on the prosperity of all nations.” The conference, after the opening sitting, adjourned until to-morrow, the interval being spent in arranging the work of the programme. Both of tomorrow’s meetings will be private. The discussions will be opened by the German Chancellor (Herr Von Papen) with a statement of Germany’s economic situation.