ECONOMIC FUTURE

New Zealand Herald, Volume LXXVII, Issue 23602, 11 March 1940, Page 8

ECONOMIC FUTURE

RESOURCES OF WORLD UNITED STATES IDEALS IMPORTANCE FOR PEACE By Telegraph—Press Association —Copyright (Receiver! March 10, 7.10 p.m.) PARIS, March 0 The United Slates envoy to Europe, Mr. Sumner Welles, to-day .suddenly broke his silence to condemn autarchic economics. In a memorandum to the French Minister of Finance, M. Reynaud. he said the essentials of the economic foreign policy of the United States were: (1) That sound international relations were indispensable for lasting peace; and that each nation should have normal access to the world's resources and an issue for its excess production. (2) That international trade cannot prosper under bilateral exclusive agreements under the barriers of excessive tariff regulations and exchange control; and that these barriers were instruments of economic war and recent events had proved their power to create international hostility and conflicts. (;]) That post-war reconstruction must eliminate the barriers which were impeding traffic in goods beyond international frontier*, must apply non-dis-crimination, and must create the neccssarv exchange and credit conditions for multilateral trade.

Mr. Reyuaud, after consulting till! Prime Minister, M. Daladier, said Franco completely agreed with the principles which were expressed in the Anglo-French wartime economic and financial agreements, in which was the foundation for a post-war European regime of economic liberty. Mr. Welles conferred with the Polish Premier, General Sikorski, for an hour.

VISIT TO LONDON MR. WELLES' PROGRAMME (Received March 10, 7.12 p.m.) British Wireless LONDON, March 9 Mr. Sumner Welles is due in London by air from Paris to-morrow. During his brief stay he will make contact with leading official and unofficial personages. Informality will be the keynote of these contacts and of the visit generally. The visitor's own wishes alone will be consulted regarding interviews he desires in order to present to Mr. Roosevelt a balanced picture of the situation in Britain. It is expected that on Tuesday Mr. Welles will be received by the Kiug at Buckingham Palace.

POST-WAR PLANS PROPOSED ALLIANCE PARIS. March S French statesmen in interviews with Mr. Sumner Welles, United States envoy to Europe, discussed a possible extension of the Anglo-French alliance into a Pan-European union after the war. M. Daladier, French Prime Minister, said he was very satisfied with his interview with Mr. Welles. It is revealed that four leaders of British churches, including the Archbishop of York, flew to Holland in January to attend an international conference, which is believed to have been a factor in Mr. Roosevelt's decision to despatch Mr. Welles to Europe. Mr. Alfred Salter, M.P.. in a speech at the conference, said he thought peace negotiations were justified if the Czecho-Slovaks and Poles received their independence under practical guarantees.