LEAGUE ASSEMBLY

Nelson Evening Mail, Volume LXX, 7 October 1936, Page 7

LEAGUE ASSEMBLY

ECONOMIC COMMITTEES’ REPORT BARRIERS TO NATIONAL TRADE RESOLUTION URGES REMOVAL (British Official Wireless) (Received 7th October, 11.35 a.m.) RUGBY, 6th October. The Economic and Financial Commission of the League Assembly continued the debate at Geneva on the report on the League’s Economic Committee. The Belgian delegate declared that Belgium would support any attempt to organise the expansion of world trade by the concerted action of all Governments. Mr Stanley Bruce (Australia), said that the present debate was perhaps the most important ever held under the auspices of the 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 might be avoided. A draft resolution has been tabled following Mr W. S. Morrison’s speech, which reads: “The Assembly, noting with satisfaction the joint declaration of the Governments of France, the United States, and the United Kingdom on 26th September

plr Stanley Bruce and the adhesion thereto immediately given by several states recognising that the declaration harmonises with the recommendations made by the Economic Committee of the League in its recent report on the present phase of international economic relations, and considering that a policy designed to re-establish a durable equilibrium between the economics of various countries to lay more solid foundations for the stability of economic relations and to promote international trade, would effectively contribute to the consolidation of peace and the restoration of international order, the growth of world prosperity, and improvement of the standard of living of the peoples, affirms the general desire of states members of the League to pursue the realisation of these objects and invites all states, whether member's •'of the League or not, 'to cooperate fully to that end.” It urgently recommends 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, the present system of quotas and exchange control."

Mr Bruce suggested, that the Asembly authorise the Council to appoint from the Economic and Financial Committees a small consultative body with power to co-opt members from outside, for instance, the United States, which could act as a focal point for investigation of economic problems when required. Mr Bruce, however, stressed that the first steps should be taken by the Great Powers,' especially creditor Powers. He . added that he considered Mr Morrison overstressed the importance of acting slowly, as time was now of the utmost importance. The Associated Press special correspondent, says that although the personnel of the Economic Committee is outstanding, Mr Bruce’s speech is generally regarded as the most valuable contribution so far.