WHEAT RATIONS CONFER

Taranaki Daily News, 17 August 1933, Page 5

WHEAT RATIONS CONFER

INVITATION ,FROM LEAGUE

REDUCTION OF ACREAGES

DESIRE FOR CO-OPERATION

UNITED STATES’ ATTITUDE

British Wireless. Rugby, Aug. 15. Following on the international wheat discussions begun at Geneva on May 10 and continued during June and July in London, the League of Nations has invited 27 countries, who are the chief importers or exporters of wheat, including Britain, Irish Free State, France, Germany and Italy to confer in London on August 21. t The invitations have been issued in the name of Australia, Canada, the Argentine Republic and the United States, who have requested that the discussions be held within the framework of the World Monetary and Economic Conference. The League will supply the service of its expert secretarial staff. It is concluded that the fact that the conference is being called indicates that agreement has been reached among the four big wheat producing countries on the limitation of production.

A Washington cable states that Mr. H. A. Wallace, Secretary of Agriculture, stated to-day that the United States was prepared to accept any reasonable plan for European co-operation involving a reduction of wheat production which was satisfactory to Australia, Canada and Argentina. The statement followed the receipt of a report of Mr. Henry Morgenthau senior, the United States delegate to the London wheat conference;

“SUBSIDISED EXPORTING.”

Mr. Wallace said that unless a programme of international reduction of wheat production was obtained the United States was prepared to proceed with a programme of “subsidised exporting” in order to remove surplus grain. Mr. Wallace described subsidised exporting as similar to dumping, except that it would involve an assurance that the United States could export approximately the, amount of its normal exports rather than in excess of normal exports. Mr. Wallace said that Mr. Morgenthau informed him that the United States had offered to make a substantial reduction in wheat acreage in the next two years if Australia, Canada and Argentina would also reduce production. “The United States recognises the difficulties of European co-operation and stands willing to engage in joint reduction of its programme with other great exporters for a year at least if European co-operation is not obtainable for the first year,” continued Mr. Wallace. “We do not insist upon European co-operation this time, but if the other exporters insist we will accept any reasonable plan for Eupropean co-operation satisfactory to Canada, Australia and Argentina. “We shall wait till August 21 to see if they can reach an agreement for definite action before we announce our wheat reduction for the next year. If other exporters do not co-operate we will make less reduction in the acre-, age than if the other countries were participating. We will maintain our wheat producers’ incomes through benefit payments and will move out of the country the burdening surplus of wheat such as exists on the Pacific Coast. If no agreement is reached we will find a place for our wheat in Oriental markets.”