DEBATE LANGUISHES

New Zealand Herald, Volume LXX, Issue 21518, 15 June 1933, Page 11

DEBATE LANGUISHES

INTEREST DETRACTED WAR DEBT NEGOTIATIONS SESSION ADJOURNED EARLY QUESTION OF COMMITTEES By Telegraph—Press Association—Copyright (Received June 14, G. 25 p.m.) LONDON, Juno 14 Although yesterday afternoon's session of the Economic Conference was timed to end at 6 p.m., it lapsed an hour earlier, no speaker being available. A contributory reason was the day-long distraction regarding the fate of the Anglo-American war debt negotiations, which inevitably precipitated themselves into the atmosphere of the conference, from which Mr. Cordell Hull, chief United States delegate, Was an absentee. Many of the delegates preferred to go to the House of Commons to hear Mr. Neville Chamberlain's expected statement, and it was not surprising when the president of the conference, Mr. Mac Donald, announced that nobody was ready to continue the debate. A conference at which the delegates do not want to speak is something of a novelty, but yesterday's renunciations will mean the speedy ending of the general debate and the early appointment of the two main committees — monetary and economic. The French are advocating a third committee to deal with questions of production and labour. The American delegates strongly desire to secure the chairmanship of the monetary committee, but their claim is opposed by the majority both of the great and smaller Powers, among whom the unchecked depreciation of the dollar has aroused criticism. Probably a neutral chairman will bo chosen. Conversations continue between the British and French bankers and Treasury experts. Dr. Schacht has resumed his talks with representatives of Germany's creditors. It is an open secret that Mr. Hull is redrafting his speech in the light of tho war debts negotiations and of the outspoken references to the subject in most of the speeches. It is fairly certain that specific subjects will be referred to commissions on Friday, when the real work of the conference will be begun. General Smuts' suggestion to leave economics wholly to experts is not finding favour with politicians, who assert that they have always in the long run cut the Gordian knot to save experts from debating interminably. Viscount Ishii (Japan) left no doubt that lower tariffs are an essential condition of Japan's willing co-operation a sentiment which has disturbed other manufacturing countries. TARIFF TRUCE NINETEEN STATES AGREE DURATION OF CONFERENCE (Received June 35. 12.35 a.m.) LONDON. June 14 At to-day's sitting of the Economic Conference Mac Donald said that 19 States, the majority of Which played an important part in world economy, had agreed to a tariffs truce for the duration of the conference. He earnestly appealed to all the States to give their adherence to the truce by Friday, which would be a good augury for the work of the conference. M. Paul Hymans (Belgium) was appointed vice-president of the conference. The session began in a buzz of expectancy with the announcement of speeches by Dr. Dolfuss (Austria), Mr. Neville Chamberlain (Britain) and M. Litvinoff (Russia). Most of the glamour was centred on the diminutive, boyish looking Austrian Chancellor who, beset by the tense anti-Nazi situation in his own country and for whom an aeroplane is waiting at Croydon to whisk him back to Vienna to-day, made a speech which was a model of gravity. He plumped heavily for a reduction of wheat production as a check on price depreciation. Mr. Chamberlain's 35 minutes' survey made an excellent impression with detailed suggestions based on the uplifting of price levels after a final settlement of war debts. CANADA'S INTERESTS " NO COMMON PLAN " MR. BENNETT'S VIEWS LONDON. .Tunc 13 The Prime Minister of Canada, Mr. R. B. Bennett, in a statement to journalists to-day said the World Economic Conference and the Ottawa Conference were not related except that the latter reached agreements. "Let us hope we shall agree here," he said. Important questions for the conference were the use of silver as an alternative to gold, and stabilisation. Failing stabilisation it would become almost impossible to transact international business. Canada had sent her delegation to London in her own interests. "As far as we are concerned there is no common plan," said Mr. Bennett. "It is impossible for any statesman to speak on behalf of the whole Empire."