WORLD CONFERENCE.

Pahiatua Herald, Volume XLI, Issue 12390, 8 July 1933, Page 5

WORLD CONFERENCE.

MONEY ISSUE SHELVED.

DISCUSSIONS TO CONTINUE. United Press Assn. —By Electric Telegraph—Copyright. RUGBY, July 6. The Bureau of the World Monetary and Economic Conference met privately this morning to consider the future of the conference in view of the situation created by the United States’ attitude toward the question oi temporary stabilisation. Pic ns have been made to continue discussions on subjects other than, monetary on Monday. Meanwhile, the countries seeking to preserve gold supremacy are conferring separately. MOLEY DEPARTS. RETURN TO AMERICA. LONDON, July 7. Professor Mioley, special adviser to President Roosevelt, and adviser to the American delegation to the World Economic Conference, sailed from Plymouth to-day for New DEBATE IN COMMONS. TO TAKE PLACE ON MONDAY. LONDON, July 6. In the House of Commons Mr Stanley Baldwin announced that a debate on the Economic Conference n onl<j be held on Monday. The “Sun” says that it is confidently expected that a breakdown of the conference will be averted. STABILISED MONEY. CHAMBERS OF COMMERCE AIM LONDON, July 6. The Chambers of Commerce Congress discussed the committee’s report on monetary policy-, which Sir Basil Blackett described as similar to President Roosevelt’s programme. Ihe world would require stable money. The recent changes in money values were so inequitable that there was considerable sympathy with debtors repudiating . contracts. Mr J. Taylor {New Zealand) declared that the gold standard was fraudulent for debtor nations. The sterling; standard was preferable. H. \Y. Coates, the chairman of the committee, considered that there was no probability of the abandonment of gold as the basis of an international monetary system. Lord Elibank insisted" that Britain must make every effort to keep gold as backing for currency until it proved impossible. The report was adopted by 86 votes to 2i . ROOSEVELT DRIVE. AMERICA MOVES ALONE. VANCOUVER, July 6. The Roosevelt forces organised a wide propaganda to-day, designed to impress the American public that the fate of the )\ orld Economic Conference is of minor importance any way, and especially- that the President believes that the United states can get quicker results by action at home than by waiting for fit ty nations to reconcile conflicting views m London. RISE IN STERLING. CANADIAN DOLLAR’S FALL. MONTREAL, July 6. For the first time since England left the gold standard the pound sterling sold over par of 4.86 2-3 dollars on the Montreal foreign exchanges market on Thursday, soarmg to 4.87 J, but receding to 4.86| at the close