Towards Stability In World Economics

Manawatu Times, Volume 61, Issue 238, 8 October 1936, Page 7

Towards Stability In World Economics

DISCUSSIONS AT GENEVA (British Official Wireless.) RUGBY, Oct. 6. The' Economic and Financial Commission of the League Assembly continued its debate at Geneva to-day on the report of the League's Economic Committee. The Belgian delegate declared that Belgium would support any attempt to organise expansion of world trado by the concerted action of al} Governments.

Mr. Stanley Bruco (Australia) said that the present debate was perhaps the mos#important ever held under the auspices of tho League. Economic questions were often more significant than political ones. If a serious effort was made to re-establish general prosperity rapidly the danger of war would be avoided. A draft resolution ■ which has been tabled following Mr. W. S. Morrison’s speech of yesterday reads:— Tho Assembly, noting with satisfaction tho joint declaration of the Governments of France, the United States and the United Kingdom on September 26, and the adhesion thereto immediately given by several States, recognising that the declarations made by tho Economic Committee of the League in its recent report on the present phase of international economic relations, considering that a policy designed to reestablish durable equilibrium between the economies of the various countries, to lay more solid foundations tor stability of economic relations, and to promote international trade would effectively contribute to consolidation of peace, restoration of international order, growth of world prosperity, and improvement of the standard of living of people’s affairs, and in view of the general desire of the State members of the League to pursue realisation of these objects, invites all States, whether members of the League or not, to co-operate fully to that end. It urgently recommends tho States, as an essential condition of final success, to organise without delay determinate and continuous action to ensure the application of the policy indicated, to reduce excessive obstacles to international trade and communications, and in particular to relax and as soon as possible to abolish tho present system of quotas and exchange control.