WORLD CONFERENCE PLAN

Hawera Star, Volume LI, 3 June 1932, Page 5

WORLD CONFERENCE PLAN

PROPOSAL FOR ALL NATIONS TO VIEW ECONOMIC PROBLEMS STABILISATION OF PRICES. I United Press Association— By Electric Telegraph Copyright.) LONDON, June 2. A. statement on the proposed international economic conference was made in the House of Commons yesterday by . Sir John Simon, Secretary for ■foreign Affairs, in reply to the Leader of the Labour Party (Mr. George Lansbury), who asked whether Sir John could state the present position regarding the conference which, according to the Press, was favoured by the United States.

Sir John said that within the past few days conversations had taken place between the British Government and the United -States on the suggestion that such a conference should be called to consider methods of stabilising world commodity prices. The matter had not advanced beyond an informal preliminary stage, so much so that the opportunity of consulting other Governments chiefly concerned had not yet arisen. It was to be remembered that the terms of reference for the conference at Lausanne included not only settlement of reparations, but also an agreement on measures to solve other economic and financial difficulties. Unless, therefpre, the United States sent representatives to the second part of the Lausanne Conference there was a danger of overlapping, and the question of time and place would remain to be considered, even if yet a further conference was decided on. At the same time the importation of the United States’ co-operation in such discussion was so great that the British Government was losing no time in consulting other Governments which would be represented at Lausanne.

WELCOME BY ALL PARTIES. Sir John’s statement is welcomed by all parties-. Tbe view held in. some quarters that the new conference would mean overlapping with that at Lausanne is countered by the possibility of eliminating the third stage at Lausanne and the allotted discussion on measures of relief of the depression. The advantage of examining world economic problems in conjunction with America is everywhere recognised. It is understood the British Government has suggested to Washington that the Lausanne conference after dealing with reparations should meet as an international economic conleience with America represented, but Washington’s willingness- that London should be the venue clearly shows a: desire to avoid Lausanne, which is associated in the mind of the American public exclusively with debts and repar ations. The opinion is widespread, therefore, that the new conference means a modification of the Lausanne agenda with an extension of the moratorium to Germany and possibly the postponement of the conclusive reparations agreement until the new conference is over. In the meantime Sir John Simon had a further talk with Mr. Andrew Mellon (U.S. Ambasador) yesterday and had interviews with the French and Italian Ambassadors. BRITISH-AMERICAN LEAD. Mr. George Lanshury (Labour leader; made a statement that the Labour Party would welcome such a conference, which it had long advocated. “The world cannot wait,'’ Mr. I.ansbury said. “The whole civilised life of Europe, indeed of the world, will crash before our eyes unless there ir. co-operative action now.” Presiding over a dinner at which Mr Mellon was the guest of honour, Lord Grey said: “We believe that if there is co-operation between the United States and Great Britain, and if the two will* pull together, it will help the rest of the world to pull together. 1 wish the time may come when the United States and Great Britain may co-operate in diagnosing the universal cause of the evil which is afflicting the world and in grappling with it internationally. ’ ’ The “Daily Telegraph” expresses the opinion that the conference will be a boon to the Dominions, it going to the root of their difficulties. “What wall be the end of this process of referring, deferring, and conferring?” the “Financial Times” asks. “One thing is certain —unless something effective is done soon to stem the orocess of. disintegration of the world’s economic..system the situation will be reached in which agendas will have little hearing on realities. “There are three things to be done, all interconnected, and they are: (1) The disposal of reparations and debts; (2) the removal of impediments to international trade, exchange restrictions, ouotas and penal tariffs; (3) a settlement of price levels.”