NEW POLICY

New Zealand Herald, Volume LXXI, Issue 21968, 27 November 1934, Page 9

NEW POLICY

american_report SETTLING WAR DEBTS tariff concessions ending isolation / important proposals 3y Telegraph—Press Association—Copyright ' (Received November 26, 5.35 p.m.) NEW YORK. Nov: 25 The commission _ of inquiry into national policy in international economic relations, appointed by President Roosevelt, made its report today following an exhaustive investication. The Government is advised to reverse tbe ; trend toward economic isolation by action "as rapid and dramatic as possible. The commission projected six major proposals, which include the establishment of « commission to settle war debts, with power to accept in the settlement" the defaulted obligations of political units of the United States, meaning the Southern States tvhich repudiated the pre-Civil War debts. Other suggestions were:— The elimination from the tariff of lion-competitive import* and the lowering of others "under proper safe- ; guards." A definite statement from the President that he would not further change the price oT gold. - Placing Oriental immigration on a non-discriminatory basis. Adherence to ihe League Court and with the League in "activities which cannot involve us. in European conflict#." The commission is apparently the body financed by the Rockefeller ~ Foundation and established early in the year by the Social Science Research Council of New York. This organisation represents seven national scientific societies in the fields of anthropology, economic!!, history, political science, psychology, sociology. and statistics. The chairman of the commission is Mr. Roliert M. Hutchins, president of the University of Chicago. The commission's plans of research were officially approved! by President Roosevelt. At sessions held by the commission in Chicago in April, the opinion was expressed by leading authorities that foreign trade revival was indisi pensable to business recovery. A poliov of economic isolation and national selfsufficiency geperallv was and re-establishment of a freer inter--7 national flow of goods, and services, now held back by retaliatory tariffs was urged. At the opening session of the commission it was stated that the

task before it was to draw up a report which "will present a definite policy for the United States to pursue in its economic relations with other ' countries."