BACK TO GOLD?

Wanganui Chronicle, Volume 76, Issue 96, 26 April 1933, Page 7

BACK TO GOLD?

NEW MONETARY SYSTEM WASHINGTON CONVERSATIONS AN AGREEMENT EXPECTED REDUCTION IN ARMAMENTS IBy Telerr-ph—Press Association— Copy ntf* . Received Apnl 25, 9.10 p»'WASHINGTON, April 24. Optimism pervaded the Anglo-Ameri-can trade and arms conversations on Monday. For the fourtn time Messrs. MacDonald and Koosevcit talked things over, calling their chief advisers to their sides in the afternoon. Jin understanding between Britain and the United States on a revised gold standard monetary basis appeared in sight, together with a very definite proposal for an armament reduction. Senator Borah, after being host to Mr. MacDonald at breakfast, reported himself optimistic and expecting an agreement “which will make the World Economic Con*'* cnee a success.” Economic experts were summoned to White House for a late report on then progress toward a revised monetary basis and an understanding on rCcipro t&l tariff reduction agreements. FRENCH ATTITUDE ROOSEVELT AND HERRIOT Received April 25, 6.40 p.m. WASHINGTON, April 24. For nearly three hours to-night Mr. Roosevelt sought with the former Pre mier of France, M. Herriot, a preliminary understanding upon the pressing problems of world monetary standards, exchange restrictions and dis armament. The two engaged in dis cessions upon much the same topics as those talked over with deep satisfaction during the Amcnean-British con versations. An indication was given in an authoritative quarter that the questions of disarmament now’ engaging tin Geneva arms parley were dwelt upon at some length. M. Herriot left White House shortly before midnight, stating that Mr. Roosevelt had laid down a complete programme including disarmament, world economic stabilisation and war debt revision. JOINT STATEMENT "DEEP SATISFACTION” Received April 25. 9.10 p.m. WASHINGTON, April 24. Messrs. MacDonald and Roosevelt, in a joint statement to-night, said that the purpose for exploring the problems of the World Economic Conference “has been admirably served,” an ' “deep satisfaction” over the discus sions was expressed. An agreement on economic problems has been reserved for the World Economic Conference, which may be speeded up to enable the opening in mid-June BRITISH TRADE POSITION MUST BE WATCHED Received April 25, 8.15 p.m. LONDON, April 24. The Daily Mail says: “There can be ao question of retaliation against the United States in connection with the currency move, but the situation should be carefully watched while the dollar is finding its true level. France is already talking of increasing her tariff to prevent American dumping and the course of events may make its necessary for Britain to adopt some such methods for her own protection.” SPIRIT OF CO-OPERATION SECRETARIAL STATEMENT Received April 25, 5.5 p.m. WASHINGTON, April 24. The Secretary of State, Mr. C. Hull, j said to-day that the economic coaver- ; sations here have shown a general di.— i position to visualise the ills and at ; tack them in a spirit of co-operation, i No agreement had been reached, bu'. ■ the conversations, he said, were o- ; great value in smoothing the wav for success at the World Economic Conference, which was expected to take place either in the middle of June or about July 1, in London. The indications were that the upshot of the Washington conversations would be in some cases a gentlemen’s agreement and in others a disposition to take action between now and the conference toward co-ordinating national views. Asked whether the war debt had entered into the discussions as yet. Mr ' Hull replied flatly in the negative. ' SOLID CURRENCY POSITION OF THE FRANC Received April 2" 5.5 p.m. PARIS, April 23. j “The franc has nothing to fear in ! the fluctuations of other currencies, j and remains the world’s most stable I solidly-covered currency,” said M. | Daladier, the Prime Minister of I France. “The re-establishment of internal confidence is more important than artificial measures on which hopes have been based.”