WAR DEBTS AND TARIFFS

Hawera Star, Volume LII, 5 September 1932, Page 7

WAR DEBTS AND TARIFFS

EXCLUSION FROM AGENDA WORLD ECONOMIC PARLEY ATTITUDE -O'F AMERICA. LONDON JOURNAL CRITICAL. (British Oiliuial Wireless.) . Received 12.15 p.m. to-day. RUGBY, Sept. 3. The announcement from Geneva tliaf six representatives have been nominated by the financial and economic organisations of the League of Nations on a preparatory sub-committee which will probably meet next week, has directed fresh attention towards the tasks before the projected world conference. The subject matter of the conference, however, is not yet clearly defined. “The Times” recalls that the American Government in its agi’eement to take part, stated categorically that the invitation excluded from the agenda any discussion of tariffs as well as war debts. “The Times” says; “If tariffs are not to be discussed the extension to the field of the Ottawa type of agreemnets which was anticipated by Mr. S. M. Bruce (Australia) in a recent broadcast address from Washington is clearly out of the Question and it is difficult to imagine ;.ny results from the world conference which would justify the hopes expressed by Mr. Stanley /Baldwin and his colleagues on their return from Hie Ottawa conference. A solution of flic monetary problem would he „a substantial benefit to world trade, hut monetary systems cannot .function in vacua. They are only the machinery for facilitating the interchange of goods and ■services. Little may be expected from any monetary reform so long as the nations pursue policies preventing, or at any rate hampering, this exchange. “Nothing can be gained and much lost by attempting to exclude from discussion tariffs and war debts, the very problems which call most urgently for solution.”