WORLD TRADE

Hokitika Guardian, 7 October 1936, Page 5

WORLD TRADE

THE REMOVAL OF OBSTACLES BRITAIN’S LEAGUE PROPOSALS (Per British Official Wireless.) RUGBY, October 5. A call for the complete removal of exchange restrictions and quotas so that international trade could attain increased prosperity was made by the Financial Secretary to the British Treasury (Mr W. S. Morrison) in a speech to the Economic Committee of the League of Nations. Mr Morrison said that, the British Government would be faced by very strong pressure from certain interests in the United Kingdom to counteract the intensified competition which would be difficult to resist, and he called upon the oher Governments to help the British Government in this respect. Before the committee’s business concluded he hoped to submit for consideration two resolutions, the first to cover exchange restriction and quotas, and the second .about commercial access to raw materials. Hg suggested the appointment by the council of the league of a committee composed of representatives of the economic and financial committees of the league, and other qualified persons, to undertake the study of the entire problem of raw materials, and to furnish the league with a report.

The French Minister for Com-, merce (M. Bastid) said that France hoped that other countries would follow her example in bringing a bout a new monetary system. This was necessary to assist in the economic recovery of the world. In reducing one-quarter of its quotas and its customs tariffs, the French Government had made a gesture to the world, but this could not have been done without the realignment of the franc. Other countries would have to reciprocate. The French Govenment was willing to take the necessary measures to liberate capital and to make the circulation ol money and goods easier. On Mr Morrison’s proposal, the Minister for National Economy in France (M. Spinasse) wa s appointed rapporteur of the work committee to the league assembly.