OTTAWA “COOKS”

Taranaki Daily News, 2 August 1932, Page 7

OTTAWA “COOKS”

MAKING OF EMPIRE MEAL CURRENCY CHIEF INGREDIENT WORK OF THE ECONOMISTS CLOSE SECRECY OBSERVED SLOW PROGRESS EXPECTED By Telegraph—Press Assn.—Copyright. Rec. 5.5 p.m. Ottawa, July 31. The "cooks” who are busy at Ottawa preparing the “Empire meal” have not yet solved the problem regarding all the ingredients. It is not expected to be a lavish banquet, but is concerned merely in providing an honest working man’s dinner. The cooks consider they have already solved the butter problem and there is no difficulty about bread because the wheat farmer has produced abundantly, Regarding meat they have the roast ready tn the pan. Assorted fruits adorn the sideboard, and the only question that remains is, ‘Can we provide gas for the cooking stove.” In other words, that is the currency problem. There is a bountiful supply of everything the hungry man needs,; can he have it? Can Ottawa put a starving Empire in a position to purchase a meal? The early stages of the discussion on the monetary problem indicate that it is probably wise that the conference has made holiday arrangements which will give time for incubation of the ideas which have been outlined. The utmost secrecy is observed regarding the trend of the suggested action because if any hint were disclosed it might conceivably embarrass Britain if she were involved in a volte face or amendment of the original proposals at the Dominions’ behest. Moreover, premature predictions ,of the. final scheme might entail world-wide repercussions. ECONOMISTS IN LIMELIGHT. If a policy were adopted which meant a general curtailment of production it would be difficult to imagine what might happen. Economists as? walking the corridors with a consciously important air. They have now taken their places under the spotlights down-stage. Everybody in the select audience is weighing his words. Even if, as anticipated, the preliminary currency speeches are released on Tuesday in an abridged form, they will not contain a single word of the plan now being discussed. They will merely outline the sorry plight of the Dominions. They will also embrace a review of Britain’s returning financial health. They will show that Australia and India have developed a common tie out of the common distress. The present interregnum in official business does not mean a complete stoppage of progress. On the other hand it means accelerated activity on the part of the subcommittee reviewing currency problems. These experts are accomplishing really effective work. During the week-end they have been askd two questions—firstly, is it advisable and practicable to raise commodity prices, and if so, how? Secondly, is it advisable and practicable to stabilise exchanges, and if so, how? It is agreed the answers cannot be furnished within a few days. The report will involve the most serious consideration of any subject before the conference. The heads of the delegations especially realise the deep responsibility, and it is unlikely that any essential progress towards a decision will be made until next week, after delegates have returned from the Niagara trip.