Patea & Waverley Press WEDNESDAY, SEPTEMBER 6, 1933 THE ECONOMIC CONFERENCE.

Patea Mail, Volume LIII, 6 September 1933, Page 2

Patea & Waverley Press WEDNESDAY, SEPTEMBER 6, 1933 THE ECONOMIC CONFERENCE.

THE World Economic Conference, which opened some two months ago and was attended by 168 delegates, representing 66 States, is now a failure of the past, and people arc naturally asking why it was a failure. The answer is because there were 66 separate interests seeking satisfaction at the conference, and in not one country represented was there the determination to sit at the conference as a member of the world family and not as a sovereign State. In other words, the conference was dominated by a spirit of nationalism in place of internationalism. In spite of the hopeful words of the King in his opening address, and those of Britain’s Prime Minister, Mr. Ramsay MacDonald, the conference was doomed to failure because of the absence of the right spirit amongst the delegates attending, each of whom looked at every subject brought forward for discussion from a selfish rather than an unselfish standpoint. Knowing that this would be the case, many of the Home papers predicted the failure of the conference long before it was held. One paper, writing on June 14, a, few hours before the conference opened, said: “Wc know as surely as we know anything at all, and every one of the delegates knows it as well, that unless a miracle occurs the coni ferenec will prove the bitterest disappointment that has becli experienced by mankind.” This paper went on to say that the conference “could not succeed unless its spirit was transformed.” There was a great conference at Geneva in May, 1927, six years ago. That conference met at a time when it was thought that international monetary troubles were well on their way to' solution. Nearly every country was back on the gold standard. Inflation was ended. Even the reparations burden seemed to be eased. Then that conference solemnly drew attention to the political issues needing to be faced and solved. It declared that economic warfare between nations would lead to disaster, and that economic nationalisation would have to be abandoned and tariff barriers lowered. What was the result? The warning was ignored, and the evils to which it drew attention were intensified, tariffs were increased everywhere. To-day we finely even Britain talking of restricting the imports from her ow r n Overseas Dominions! What is needed is a new idea and an entire change of attitude. The conflict between world economics and national politics must cease. What is required is a conference, not of politicians, but of representatives of organised industry, responsible for their own national economic affairs and above all ready to co-operate with, each other for each other’s good. Until this is done any further conferences, however well attended, will prove abortive.