ECONOMIC STRESS.

Gisborne Times, Volume LXXIII, Issue 11832, 13 January 1933, Page 5

ECONOMIC STRESS.

PREPARATORY COMMISSION’S

WORK

(U.P.A. by Elec. Tel. Copyright.) (Received Jan. 12, 11.20 p.m.) LONDON, Jan. 12. The Daily Telegraph’s Geneva correspondent says: "As a result of the discussions of the Preparatory Commission nf the World Economic Conference, the British and American experts have agreed on the general lines of a common course of action. It is hoped that the French will similarly produce concrete proposals. which will lead to a definite formula. The American, dele go > r - hope that the Powers will reach some arrangement regarding! war debts before the .Economic .Conference meets. Their belief is that,-if a satisfactory agreement on debts is reached. America will probably entertain the idea of lower tariffs but. at the same time, she will require Britaiu to stabilise sterling if not on the gold basis then on a determined basis which will hol, admit of insecurity.” The correspondent adds: “A feeling of optimism is justified. This is a new Geneva—a Geneva faced with catastrophe and with all parties prepared to make concessions. HOW FRANCE WILL BALANCE BUDGET. CUTS AND TAXATION. (U.P.A. bv Elec. Tel. Copyright) (Ree. Jam 13, 1-20 a.m.) PARIS. Jan. 12. Cabinet lias unanimously approved M. Cheron’s programme of financial reforms, involving cuts m salaries and pensions of -£42,000.000 and new taxation £43.000,000 in order to balance the budget.