WORLD’S TRADE

Southland Times, Issue 21849, 28 October 1932, Page 7

WORLD’S TRADE

ECONOMIC CONFERENCE MEMBER RESIGNS FROM COMMITTEE CONFLICTING VIEWS (British Official Wireless.) Rugby, October 26. Sir Walter Layton has written to the Prime Minister resigning from the Parliamentary Committee of the World Economic Conference. Sir Walter Layton’s letter explains that in a recent interview with the Hon. Neville Chamberlain he found some of the views of the Governirfent and himself so different that he could not fully represent it on the committee. He found that the Government believed that reasonable freedom of trade could be restored through international negotiations with foreign countries within the limits of the Ottawa Agreement and subject to strict insistence on the most favoured nation. In Sir Walter’s opinion that would have little effect on the protectionist system of the world. What was wanted was that Britain, whose attitude would be almost the decisive factor, should press for plans on much bolder and broader lines in co-operation with the low tariff countries, and those to whom the restoration of foreign trade was all important. The Prime Minister wrote regretting Sir Walter Layton’s resignation saying he hoped for Sir Walter Layton’s assistance as his known divergence of aims, so far from hindering the Government, really have helped them. Sir Walter JLayton. had misinterpreted the Government’s attitude. “The main difference between us,” said Mr MacDonald, “is our varying estimates of securing progress on lines you favour which depends on the policy of other countries as well as our own.” He expressed the hope for Sir Walter Layton’s assistance as the conference develops, on. any points in which he has well considered views.

WHEAT ACREAGE ARGENTINE SUGGESTION. (Rec. 7.5 p.m.) Buenos Aires, October 26. The Argentina’s representative at the World Economic Conference Preparatory Committee has been instructed to suggest that an agreement be negotiated between the United States, Canada, Argentina and Australia to make a proportionate decrease in the wheat acreage to bring production within the consumption demand.