CURB ON WORLD TRADE

Poverty Bay Herald, Volume LXIII, Issue 19138, 6 October 1936, Page 6

CURB ON WORLD TRADE

APPEAL FOR REMOVAL EXCI-IA NG E RESTRICTIONS INFLUENCE OF QUOTAS (British Official Wireless.) Reed. 1 p.m. RUGBY, Oel. 5. A (■;>.!) for the complete removal of exchange restrictions and quotas, so that international trade could attain increased prosperity was made by Air. W. S. Morrison in a speech before the League of Nations economic committee at Geneva to-day. lie said that tin' British Government would be faced by very strong pressure on the part of certain interests in the United Kingdom to ■counteract the intensified competition which would result from the currency revaluation on the Continent. Such pressure would be difficult to resist, mill lie called upon the other Governments to help the British Government in this respect.

Me said that, before the committee ! s business concluded, he hoped to submit for consideration two resolutions, the first to cover the question of exchange restriction and quotas, and the second regarding commercial access to raw materials. Me suggested the appointment by the Politicil of the League of a committee composed of representatives of the economic and financial committee of the League and other qualified persons to undertake a study of the entire problem of raw materials, and to furnish the Longue ivitli a report.

Mr. Morrison said that Branco hoped that other countries would follow her example in bringing about a new monetary system. This was necessary to assist: in the economic recovery of the world. In reducing onequarter of its quotas and its custom tariffs, the Preach Government made a gesture to the world, but this could not have been done without a realignment of the franc. Ollier countries would also have to reciprocate.

The French Government was willing to lake the necessary measures to liberate capital and make the circulation of money and goods easier.

On Mr, Morrison’s proposal, M. Speinaslie, the Minister of National Economy in France, was appointed as rapporteur of the work of the committee to the League Assembly.