RAISING OF PRICE LEVELS

Timaru Herald, Volume CXXXVII, Issue 19525, 26 June 1933, Page 7

RAISING OF PRICE LEVELS

PROBLEM FOR WORLD CONFERENCE

DOMINIONS INTIMATELY CONCERNED United Press Association—By Electrlo Telegraph—Copyright (Received June 25, 6.30 p.m.) LONDON, June 24. The Sub-Committee of the Conference on the co-ordination of production, reporting on the principles of a workable scheme, says: “Agreements, aiming at the raising of wholesale prices must be confined to commodities of world importance, in which there is an excess of production or stock. Agreements must be comprehensive and command a general measure of consent among exporting countries, and substantial number of actual producers. They should be designed to secure and maintain a fair and renumerative price level, with the willing co-operation of importing countries and consuming interests. “The scheme must operate long enough to give an assurance that the objects can be achieved, but due regard must be paid to the encouragement of efficient production in each country.” DOMINIONS CONCERNED. VITAL QUESTIONS CONSIDERED BY CONFERENCE. United Press Association —By Electric Telegraph—Copyright LONDON, June 23. The “Sun" Service says the Dominions’ next important concern is in the drafting by a sub-committee on Monday, of the principles of coordination of marketing and production, but Mr Bruce, Mr Forbes and Mr Bennett are unlikely to agree to measures exceeding to any extent the recognition of principle. It is expected that the drafting will be diluted to mere pious resolutions.