WORLD ECONOMICS

New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 11

WORLD ECONOMICS

PENDING CONFERENCE Sift W. LAYTON'S VIEWS CAUSE OF RESIGNATION By Telegraph—Press Association—Copyright (Received October 27, 6.5 p.m.) British Wireless RUGBY. Oct. 26 Sir Walter Lay ton, in his letter to the Prime Minister resigning from the Preparatory Committee of tho World Economic Conference, explains that in a recent interview with the Chancellor of tho Exchequer, Mr. Chamberlain, lie found that some of the views of the Government and himself were so different that lie could not fully represent it on tho committee. He found that the Government believed reasonable freedom of trade could be restored through international negotiations with foreign countries within the limits of the Ottawa agreements, and subject to strict insistence on most-favoured-nation rights. In Sir Walter's opinion that would have Utile effect on tho protectionist system of the world. What was wanted, he considered, was that Britain, -whose attitude would bo almost a decisive factor, should press for plans on much bolder and broader lines in co-operation with low tariff countries and those to whom the restoration of foreign trade was all-im-portant. Mr. Mac Donald wrote regretting Sir Walter's resignation and saying he hoped for his assistance, so that his known divergence of aims, so far from hindering the Government, would (really help it. Sir Walter had misinterpreted the Government's attitude. The main difference between them, said Mr. Mac Donald, was their varying estimates of securing progress on tho lines Sir Walter favoured, which depended on the policy of other countries as well as Britain. He expressed a hop© for Sir Walter's assistance as the conference developed on any points on which he had well considered views.