WORLD ECONOMICS

Greymouth Evening Star, 13 April 1933, Page 7

WORLD ECONOMICS

MINOR NATIONS’ VIEWS INVITED BY MR. ROOSEVELT [BY CABLE —PBESS ASSN. —OOPYBIGHT.] WASHINGTON, April 12. The State Department announces that notes have been sent to all the forty-two nations having diplomatic missions in Washington, and which were not invited to send a special representative to the Roosevelt conversations, inviting them to exchange views through diplomatic channels. This action followed reports of dissatisfaction among some of the conn-' tries who were not specially invited. Each note was accompanied by a personal note from Mr Hull, referring to the apparent impossibility of all nations sending special representatives, because of the lack of time. The existing warfare in South America was condemned by President Roosevelt, as a backward step, in a speech commemorating Pan-American Day. The President proposed that the American Governments initiate individual steps promptly to abolish unnecessary artificial barriers and restrictions hampering the healthy flow of trade between the American Republics. ' WASHINGTON CONVERSATIONS. LONDON, April 12. Mr. A. E. Overton, Board of Trade, and Sirs Robert Vansittart and Frederick Leith Ross will accompany Mr. R. MacDonald to Washington. No topic will be barred from the Roosevelt —MacDonald conversations, says the “Daily Telegraph’s” political correspondent. . The major subjects will be finance, economic relations, debts, disarmament and the general situation of Europe, regarding which the aim of the British Government will be to prevent any alignment of nations into two camps. The correspondent says he has learned that the invitation to Mr. MacDonald closed with the words: “Do come! Spend the weekend with me. lam sure that in the week-end we can do more for the good than has been done for a long time.” There will be no attempt to make agreements, but Mr. MacDonald hopes to reach understandings with a view to closer co-operation between the two countries.

The British United Press Paris correspondent states: In the hope of turning public opinion in the United States more favourably towards France the French Government has decided to empark on an elaborate campaign of propaganda, which will be facilitated by an agreement between the French official news agency and an American news organisation. It will consist of articles under famous French, names, French films, ocean broadcasts by those who know the American mentality, and the American women’s viewpoint, thereby removing causes why France had “so often been taken for a tired, worn-out country.” JAPAN’S ACCEPTANCE. WASHINGTON, April 12. Japan has formally accepted the invitation to send leading statesmen to the Roosevelt conversations. BRITISH INDUSTRIES. [BRITISH OFFICIAL WIRELESS.] RUGBY, April 11. In the House of Commons, the Chancellor of the Exchequer, was asked for an assurance that, before the Government were committed to any steps designed to secure the early return of Britain to the gold standard, an opportunity would be given for a discussion of the subject by the House. In reply, Mr. Neville Chamberlain said the House was well aware of the general policy of the Government on this question, and that policy would not be changed without an ample opportunity for discussion. When asked whether the recent considerable increase in the. stock of gold had anything to do with the Government policy, the Chancellor replied in the negative. The British overseas trade figures for March show imports totalled £56,346,000 against £49,077,000 in February. Exports totalled £33,551,000 against *£27,928,000 in February. In March, 1932, the figures were: Imports £61,181,000; exports, £31,196,000. The increase in imports last month was chiefly in food, drink and tobacco. The increase in exports was chiefly articles wholly or mainly manufactured. The Imperial Committee of Economic Consultation and Co-operation held its initial meeting to-day and signed reports which will be submitted by the delegations to their respective Governments. Mr. W. C. Runciman (President of the Board of Trade) says he hopes to make a statement shortly regarding the progress of British trade negotiations with various countries. Questioned regarding the future of rubber research, Mr. Runciman said the British Government recognised it was desirable that the work of the British Rubber Manufacturers’ Research Association should continue, and it had been decided to give a further opportunity for discussion on the rubber industry by a Bill which shortly will be introduced in the House of Lords.

BRITAIN AND DOMINIONS. LONDON, April 12. In the Commons, Mr. Thomas announced that as the result of negotiations, Canada had agreed to amend certain tariffs on British goods. Since the Ottawa agreement, the Canadian Government had agreed to fix the value of the pound for customs purposes to be reckoned at 41 dollars, instead of 4.4. Mr. Bevan asked: “In view of the success of these negotiations and the change in the New Zealand exchange rate to the disadvantage of Britain, is it intended to open negotiations with New Zealand.” Mr. Thomas replied: “My intention is to open any avenue profitable to Britain.