DANUBIAN DISTRESS

Northern Advocate, 15 September 1932, Page 5

DANUBIAN DISTRESS

POWERS SEEK SOLUTION GRAIN PREFERENCE PLAN. BRITAIN STANDS ALOOF. CONGRESS SHARPLY DIVIDED. (United Press Association—By Electrlo Telegraph—Copyright.) (Received 9 a.m.) LONDON, September 14. At the conference being hold at Stresa, Italy, to consider the financial and economic conditions of the Dnnuhian Stfates, the British delegates, on the grounds that Britain was not. prepared to offer preferences on Danubiau grain, nor to contribute to a common fund for that purpose, refused to participate in a suggested agreement formulated by France and supported by Germany. It appears likely that Italy, Holland and 'Switzerland may follow the lead of Britain, whose delegates declared that the only remedy for the distress in the Danubiau countries is the removal of trade barriers. Britain also told the Financial Committee that she cannot discuss the question of a reduction of the interest or principal of the Danubiau debts. The “Daily Telegraph” emphasises the fact that for eleven years Britain has granted the Danubiau countries larger loans and credits than any other Power. Moat of the recipients are unable to pay even the interest. Moreover, all have imposed high tariffs, restrictions on foreign exchanges, and retain the gold standard, which is not. suited to .-their present conditions.