LONDON CONFERENCE

Otago Daily Times, Issue 21998, 6 July 1933, Page 7

LONDON CONFERENCE

FATE IN THE BALANCE MEETING OF THE BUREAU BUT NO DECISION YET (United Press Association.) (By Electric Telegraph fopyrlght.) LONDON, July 4. The reports of the death of the World Conference are at least premature. The {atient has rallied slightly. What lies ehind it all is a matter for conjectiire. The bureau spokesman, after a meeting lasting 45 minutes, announced baldly that the bureau had adjourned till 10 o’clock on' Thursday morning. THE WASHINGTON BOMBSHELL (British Official Wireless i RUGBY, July 4. Conference circles to-day discussed the situation created by President Roosevelt’s statement regarding temporary currency stabilisation. The advantages and disadvantages of postponing the proceedings —at least in regard to the conference’s financial work—were debated, and it was anticipated that the bureau of the conference might reach a decision bn the point. Prior to its meeting, Mr Cordell Hull had an hour’s conversation with Mr MacDonald. It was announced after the meeting of the bureau, which lasted for 45 minutes, that no decision had been reached. The meeting will be resumed on Thursday. It is understood that this course was adopted at the instance of the American delegates, who desired a further opportunity of explaining President Roosevelt’s statement. CENTRAL BANKS A CONFERENCE IN PARIS. LONDON, July 5. (Received July 5, at 9.30 p.m.) Representatives of central banks in fold countries will hold a conference in Paris on Saturday, when it is expected that suggestions for pooled resources will he discussed. The Financial Times says: “Mr Cor-' dell Hull told the bureau that he had received fresh instructions from Washington and had a plan to place before the conference, but it was not yet in such a form as to allow him to disclose the details. He assured the bureau that he was convinced of its effectiveness as a solution of the present difficulties. The gold countries are inclined to be sceptical, but it was ultimately agreed to give Mr Hull 48 hours within which to preseut his plan.” ► M. Bonnet openly stated yesterday evening that there was nothing left for the delegates to do but to go home. NEW AMERICAN DELEGATION NEW YORK, July 5. (Received' July 5, at 9 p.m.) It is understood that President Roosevelt will send a new American delegation to London, which may avert adjournment of the conference, which the American, Japanese and Swedish delegates oppose, while the Germans are willing to take the majority view. BRITAIN’S COURSE CLEAR LONDON, July 5. (Received July 5, at 10.20 p.m.) The Daily Mail says: “An adjournment of the conference until October would give the sub-cominittecs time for useful work, and above all it would show whether President Roosevelt’s experiment with inflation will succeed. If it should raise prices and stimulate in dustry, without ' bringing disaster in other directions, the whole trend of economic history may be changed. Britain’s course is clear, and the Government must keep its hands free in the interests of the dominions and her own trade, and forbid any premature return to the gold standard.” j A CALL TO PRAYER The deliberations of the Economic Conference are being conducted under such difficulties and arc fraught with so much significance for the welfare of civilisation that every effort should be made to assist the representatives of the nations to make the conference a success. Men and women of goodwill are urged to make use of the prayers which are appearing in the press, or any others which are appropriate, and thereby contribute to the spiritual atmosphere surrounding the deliberations. Prayer. —Almighty God, \V ho alone givest wisdom and understanding, inspire, we pray Thee, the minds of all to whom Thou hast committed the responsibility of government and leadership in the nations of the world. Give to them the , vision of truth and justice, that by their counsels all nations and classes may work together in true brotherhood, and Thy Church may serve Thee in unity and peace.