BRITISH TARIFF

Grey River Argus, 7 October 1936, Page 7

BRITISH TARIFF

Will it be Raised ? GENEVA HINTS. RUGBY, October 5. A call for complete removal of exchange restrictions ami quotas, so that international trade could attain increased prosperity, was made by Mr W. S. Morrison (Britain) in a speech to the League of Nations Economic Committee. He said the British Government would be faced by very strong pressure on the part of certain, interests in the United Kingdom to counteract intensified competition which would result from the currency revaluation on the Continent. Such pressure would be difficult to resist. lie called upon other. Governments to help the British Government, in this respect. Before the Committee’s business concluded, he hoped to submit for consideration two resolutions: .First, to coyer the question of exchange restriction and quotas; and, seeomi, regarding commercial access to raw materials. Ho suggested the appointment, by. the Council of the League of a. committee, composed of representatives of the Economic and Financial Committee of the League, and other qualified persons to undertake .the study of the entire problem of raw materials, and furnish the League with a repot 1. M. Bastid said that, France hoped other countries would follow her example in bringing about a new monetary system. This was necessary to assist economic recovery of the world. In reducing one-quarter of its quotas and its Customs tariffs, the French Government made a gesture to the world, but this could not have been done without the realignment of the franc. Other countries would also have to reciprocate. The French Government was willing to take necessary measures to liberate capital and make the circulation of money and goods easier. On Mr Morrison’s proposal, M. Speinashe, Minister of National Economy in France, was appointed Rapporteur of the Work Committee to the League Assembly. LONDON, October 4. The stock markets account endec cheerfully after what might have been a disturbed week following the revaluation of the franc. The success of Friday’s working of the interna tional monetary arrangement, assisted by the absence of repercussions .in Paris, where the Bourse is re-opening after a week stimulated London security. markets. Gilt-edged stocks which were affected by an undue bear ishness earlier in the week, com pletely recovered. Dominion stocks were firm.,