CONFERENCE REPORT

Hokitika Guardian, 15 May 1933, Page 5

CONFERENCE REPORT

TRUCE SOUGHT

AID TO INTERNATIONAL TRADE.

(British Officii Wireless.)

RUGBY, May 12

A communique issued by tlie Organisation Committee of tlie Monetary and Economic Conference states tnac tlie following resolution was unanimously approved by the committee: “Tlie Governments of the United Kingdom, Germany, Belgium, the United States, France, Italy, Japan and Norway, who are represented on tlie Organisation Committee, are convinced that it is- essential for the successful conclusion 61 the conference that measures of all kinds which at the present time misdirect and paralyse international trade be not intensified, pending an opportunity for tlie conference to deal effectively with the problems created thereby, and recognise the urgency of adopting at the beginning of the conference a tariff truce, the provisions of which shall be laid down by common agreement, These governments, being further convinced that immediate action is of great importance, themselves strongly urge all other governments participating in the conference to agree that they will not before June 12, rior during the proceedings of the conference, adopt any new initiatives /which might increase the -difficulties ~.now, arresting international coinmercej subject to the provision that they retain the right to withdraw from this agreement at any time after July 31, 1933, giving ;one month’s (previous notice to the conference. One of the main motives which brings the governments of the world together in Conference in to surmount obstacles to international trade and these governments therefore urge all other governments represented at the conference to act in conformity with the spirit of this objective.” A note is added to the communique stating that it is understood that action would not be in. conflict . with the above resolution if taken in accordance with the. considerations' set .put in that part of the draft agenda, which emphasises that some increase in. the level of t isJijghlx desirable and would be the first sign of a world recovery. It is recognised among members of the organising j. committee that go'ocl faith is thu essence;of. resolution, which cohstitutes a “gentle- 1 men’s agreement.” The resolution comes into immediate effect- among i the signatories and Sir John Simon is at once communicating its terms to tlie other nations and is inviting, them to take similar ‘ action. ■■•