CONFERENCE OPENED

Grey River Argus, 14 June 1933, Page 5

CONFERENCE OPENED

THE KING’S SPEECH Prosperity and Progress WAR DEBTS. (British Official Wireless). RUGBY. June 12. When the King opened the Alonetary Conference, he addressed thp representatives of sixty-onp nations, contain ing two thousand million people Three hours before the conference began, a great crowd, notably cosmopolitan in character, had assembled outside the entrances. The King, who drove from Windsor, was loudly cheerC'd on arrival and as he left. As th<> King entered the Conference Hall, escorted by Mr AfacDonald, Sir E Drummond, Secretary-General of the League and AL Avenol, Secretarv-Gcn-oral of the Conference, everyone present rose and remained standing while his Alajesty delivered his address. He referred to the League, the work of which hd had always followed with the keenest appreciation, and said that without the League and its ideals. he doubted whether the Conference could over have taken place. Ho also recognised the spirit of helpful eo-oporation which brought representatives of States, not members of the League, to these discussions, and he extended a special welcome to Empire delegates. Interposing a. passage in French, the King said: ‘‘lt is with very profound emotion that I see around me this august assembly which seems so vast, but which represents an infinitely vaster contemplation— th e hope and wishes of thp entire world. The world is in an unquiet state, and for you. who from to-day begin the work of restoration, the task is heavy. It will not be achieved except through goodwill and sincere co-operation. 1 extend my hand to you, and with all my heart I wish that your efforts be brought to a happy result which the peoples of the world await with im patience. ’ ’

Continuing in English, the King said that the evidence of a real desire to reach an agreement gave him hope. That all the nations w*ro suffering from a common ill, was shown only too clearly by the unemployment figures. tho meaning of which, in terms of human suffering, had. been his constant concern in recent years, as it had boon of everyone present, on whom the responsibility of Government had rested.

“It cannot be beyond the power of man so to use the vast resources of the world as to ensure the material progress of civilisation. No diminution in these resource’s has taken place. On thp contrary, discovery, invention and organisation have multiplied their possibilities to such an extent that abundance of production has itself created a new problem. Together with this amazing material progress, there has come a new recognition of inter-de-pendence of nations, and the value of collaboration between them. Now i-° an opportunity to harness this new consciousness of common interests to thp service of mankind.’’ The King concluded: “I pray that rhe results of your labours will set the world once more on the path of prosperity and ordered progress.” The King remained while the speech was translated, after which he left. escorted by the Prime Minister.

MR MACDONALD’S ADDRESS. Mr AlacDonald on returning, addressed tho Conference. He briefly outlined the state of the world that made the Conference necessary. The economic life of the world, ho said, has for years been suffering from a decline which has closed factories, limited employment, reduced the standards of living, brought some States to the verge of bankruptcy and inflicted upon others, recurring budgets that cannot be balanced. Since 1929 prices have fallen and kept well below tho level at which production can be remunerativel. They have fallen irregularly, moreover, and have distorted moral and economic relationships. The fall in prices has added oppressively to the burden of world indebtedness. In 1932, comp'apred with 1929, production of raw materials fell 30 per cent, and exchange between town ami country has been tragically limited The national income has fallen seriously everywhere, in some countries between 40 and 50 per cent. The general crisis, accentuated by restrictions, by tariffs, by quotas, and by exchange control, has reduced international trade between 1929 and 1932 to less than three-quar-ters in volume, exchanging at about half the price. Inevitably, irrespective of policy and forms of Government, unemployment has mounted until the world figure reached thirty millions This cannot go on.’’ WAR DEBTS. Behind the subjects he had mentioned. Air MacDonald said was another of first rate importance, namely. war debts. The Conference was not constituted in such a way as to enable it to consider and settle that matter

Air AfacDonald added: The Wai debts question must be dealt with before every obstacle to general reeny cry had been removed, and it must bo taken up with- ut delay by the nations concerned. J. tusanne has to be completed, and this vexed question settled once and for all, in the light of present world conditions. This conference is a sequel to the work done at Lausanno last year, when by a conditional agree ment on how to deal with war debts and reparations, Europe was saved from immediate financial collapse Thp world could not right itself without an international agreement. The last

few years had proved that a pureb national economic policy impoverish ed other nations, and those who pur sued it. The nearer they could make the world an economic unit, the better would it be for each nation, The Prime Minister stressed that rapidity of agreement was essential tc success

On the proposal of the President, the Bureau of the- Conference was const! tuted as follows: —One representative from the delegation of each of the fol lowing countries:—Argentine, China, Czecho-Slovakia, France. Germany, Great Britain. Hungary, Italy, Japan, Mexico, Netherlands. Spain, Sweden, United States, Union of Soviet Repub lies, and one British Dominion, Canada The Bureau held a private meeting at the end of thp Plenary session. The Conference resumes to-morrow, when Air Cordell Hull will be among thp speakers BANQUET TO DELEGATES Right Note Struck COMMERCE THE PEACEMAKER. (Aus. & N.Z Cable Assn.) (Ri'oeived June 13 at 9 p.m.) LONDON. June 13. Tim Government gave a banquet to six hundred Conference delegates at Grosvenor Housp Hotel, Mr Ramsay AlacDonald presiding with AL Daladier (French Premier) on his right and Air Hull (U.S.A.) was on his left. Mr De A alera was the only notable absentee. General Sir lan Hamilton, who was attending another dinner in tho hotel sent in five pipers of the Gordon Highlanders to play a triumphal march round fifty tables. Air AfacDonald, proposing the toast ol tho guests, said they were facing the hardest work that had ever boon attempted by any conference. M. Daladier (France), responding, expressed the hope for thp suceos of the Conference Mr Hull (America) said that the comerce between nations was the 1 world’s real peace-maker DELEGATES’ WIVES ENTERTAINED. (Received June 13 at 7 p.m.) LONDON, Juno 13. Aliss Ishbel AfacDonald presided at a dinner at thp Dorcester Hotel to one hundred and ten wives of delegate’s who later attended Grosvenor House. “WE MUST NOT FAIL.’’ LONDON, June 12. One of Air AlacDonald’s best declamations, undemonstratively received, was that wa-r debts must be settled, indeed taken up immediately, and tho seal put on Lausanne’s labours. Mr AfacDonald trenchantly condemned self-suffering economic nationalism, and again and again affirmed “Wo must not fail.” He. was equally insistent on the need for speedy relief.

The Conference is unique because it was inaugurated without a single nation suggesting a vestige of policy. There is at least one point on which the Empire delegates are in strong agreement—uplifting commodity prices. General Smuts revealed it was the crying need of his country, and found Australia and New Zealand similarly obsessed.

The general comment draws attention to the quiet simplicity of the opening; indeed the silence wa-s almost grim. All agree that the King set a splendid keynote, with which Air AfacDonald’s supplementary reiteration against failure was in keeping, but as yet it is too early to find an indication of reaction. Air Hull says; We have some surprises to spring. Delegates wore morning dress. The only touches of colour were two Arabia Sheiks in flowing robes and cowls, and thp inescapable heliotrope creation of General Smuts’s woman secretary. The speeches begin a.t 10.30 to-nwr-row morning. RECEPTION TOOR. SYDNEY, June 13. The broadcast of the King’s speech, shortly after midnight, was unfavourable to reception in Australia.