GOLD STANDARD

New Zealand Herald, Volume LXXII, Issue 22224, 26 September 1935, Page 11

GOLD STANDARD

BETUBN ADVOCATED IMPEDIMENTS TO TRADE REMOVAL ESSENTIAL By Telegraph—Press Association—Copyright (Received September 25, 11.5 p.m.) . GENEVA. Sept. 2* At a meeting of the Economic Committee of the League ol Nations to-day Dr. E. L. Burgin, Parliamentary Secretary to the , British Board of Trade, submitted a motion recommending the Governments ultimately to aim at a return to the gold standard and expressing the belief that the removal of impediments to trade is essential before an international monetary standard can become effective; and that the Governments encourage freer trade by bilateral agreements subject to revision at short notice in the event of a large variation in exchange. The motion also expressed the view that the recovery of trade would be greatly assisted if agreements were based on the most-favoured-nation clause.

Dr. Burgin expressed the view that the local and limited signs of economic recovery which had taken place so far could be made general only by freeing the channels of international trade.

The British Government was in favour of any step which would increase the volume of world trade, and for that reason retained its confidence in the principle of the most-favoured-nation clause as tending to reduce trade barriers.

The chairman, M. Bonnet (France), accepted the motion, which thus becomes an Anglo-French motion and will be discussed later. M. Bonnet moved that the Secretariat's economic section seek advice from agricultural experts in all parts of the world; with a view to removing agricultural depression.

The League's Financial Commission reported strongly in favour of a rapid return to the gold standard and th® abolition of trade restrictions.