ECONOMIC CONFERENCE

Greymouth Evening Star, 13 May 1933, Page 7

ECONOMIC CONFERENCE

-o U.S.A.-GERMAN STATEMENT. [BY CABLE PRESS ASSY. COPYRIGHT.] (Recd. May 13, 11 a.m.) WASHINGTON, May 12. In a joint statement, Mr Roosevelt, and Hjalmar Schacht, German representative, said that both were convinced the World Economic Conference could not be a success, unless along with economic disarmament, there was military disarmament. “We emphasised the necessity for speedy elimination of obstacles to international trade. We feel certain that stable qonditions in the monetary field are equally important.”

’ TARIFF TRUCE I . [official wireless.] RUGBY, May 12. A communique issued by the organisation committee of the Monetary and Economic Conference states that the following resolution was unanimously approved by the committee: — “The Governments of the United Kingdom, Germany, Belgium, United States, France, Italy, Japan and Norway represented on the organising committee, are convinced that it is essential for a successful conclusion of the conference that measures of all kinds which at the present time misdirect and paralyse international trade be not intensified pending the opportunity for the Conference to deal effectively with the problems created thereby. They recognise the urgency of adopting at the beginning of the conference a tariff truce, the provisions of which shall be laid down by common agreement The Governments being further convinced that immediate action is of great importance, themselves strongly urge all other Governments participating in the conference to agree that they will not before June 12, nor during the proceedings of the Conference, adopt any new initiatives, which might increase the difficulties now arresting international commerce, subject to the provision that they retain the right to withdraw from this agreement, at any time after July 31, 1933, on giving one month’s previous notice to the conference. One of the main motives which brings the Governments together in conference, is to surmount the obstacles to international trade, and the Governments therefore urge all other Governments represented at the Conference, to act in conformity with the spirit of this objective. A note is added to the communique stating it is understood that action would not be in conflict with the above resolution, if taken in accordance with the considerations set out in that part of the draft agenda which emiihasises some increase in the level of world prices is highly desirable, and would bp the first sign of world recovery. It is recognised among members of. the organising committee that good' faith is the essence of the resolution which constitutes a “gentlemen’s agreement.” The resolution comes into immediate effect by the signatories, and Sir J. Simon is at once communicating its terms to the other nations, and is inviting them to take similar action.

MR FORBES’S DEPARTURE. WELLINGTON, May 12. The Rangitata, carrying the members of the New Zealand delegation to the World Economic Conference, left here at noon to-day for London. The members of the official party are: Mr Forbes, Mrs Forbes, Hon. R. Masters, Mrs Masters, Mr G. C. Rodda (Assistant-Secretary to the Treasury), •Professor Tocker, Mr C. A. Jeffery (private secretary to the Primo Minister), and Dr. R. M. Campbell (private secretary to the Minister of Finance). Present on the wharf to bid farewell to the delegation were: The Acting Prime Minister, Mr Coates, and Mrs Coates; the members of the Cabinet and their wives; the Speaker of the House of Representatives, Sir C. Statham; members of the Legislature: members of Mr Forbes’s family and Mr Masters’s family; heads of Departments; members of the Parliamentary Secretarial Corps; and a large number of personal friends. As the Rangitata left, cheers were called for the members of the delegation. These were given enthusiastically, and were acknowledged from the upper deck by the Prime Minister.