BRITAIN’S FUTURE

Wanganui Chronicle, Volume 76, Issue 106, 8 May 1933, Page 7

BRITAIN’S FUTURE

SERIOUS POSITION

MACDONALD’S BROADCAST CONFERENCE MUST SUCCEED EARLY DEBT SETTLEMENT

<By Telegraph—Press Association—Copyright) Received Al ay 7, 5.5 p.m. LONDON, May 5. Mr. MacDonald, broadcasting regarding his American visit, declared that if Britain tried to make itself economieally self-sufficing, the population must be reduced by migrating millions even to maintain the present standard of living. This would not be possible for years, the alternative being devastating destitution. The International Conference must agree upon sound tariff principles, and the removal of obstructive devices like restriction of currency movements, and must keep exchange values steady, providing work for millions of decent people now idle. He and President Roosevelt had candidly discussed the British and American attitudes to war debts, which were found a hard nut which was still uneracked.

Mr. MacDonald summed up the results of his conversations with Mr. Roosevelt as follows: ‘‘The final decision to open the International Conference on June 12 was reached after a preliminary and mutual examination of the clauses of the world crisis and the means for overcoming them. So that we might co-operate in procuring good results, a personal exchange of information regarding war debts was made and an agreement reached that on their settlement depends the success of the work of the Economic Conference. We are both pledged to leave no stone unturned to make the Conference a success. This agreement means that we are to use every means in our power to find a way to settle these debts. We also reached an understanding as to how to co-operate in trying to bring the Disarmament Conference to a successful issue and to bring about an improvement generally of the friendly relations and mutual esteem existing between Britain and the United States, sc that our influences in making for peace, confidence and appeasement in the world will undoubtedly be strengthened. ” Mr. MacDonald said the World Conference would fail unless debts were settled as early as possible, certainly before the termination of the Conference. He and Mr. Roosevelt were agreed upon that.

THE TARIFF TRUCE

FOREIGN RESERVATIONS. TROUBLE FOR CONFERENCE. Received May 7, 5.5 p.m. WASHINGTON, May 5. The Secretary of State (Mr. .Cordell Hull) told newspapermen who questioned him on Friday about the French and British reservations towards the tariff truce that “if the United States haggled with other nations in this preliminary stage, it would lead to a hairpulling contest which would prevent progress at the World Economic Conference. SUPREME IMPORTANCE THE AMERICAN VIEWPOINT Received May 7, 6.45 p.m. LONDON, May 6. Owing to America's belief in the supreme importance of a tariff truce, and her desire to obtain an assuranc* that Britain will forthwith apply it. Mr. Norman Davis, American delegate to the Disarmament Conference, has postponed his departure for Geneva to enable further conversations with Messrs. MacDonald and Runciman. EMPIRE CONSULTATION KBIOB TO CONFERENCE. Received May 7, 5.5 p.m. LONDON, May 5. The British Government and Dornin lons and Colonial representatives wib periodically confer prior to the World Conference and exchange views of commercial, economic, and agricultural, but BOt monetary policy.

DOLLAR WEAKENS

STERLING RISE IN NEW YORK. NEW YORK, May 5. The pound rose eight cents to four dollars at the start on Friday, and held near that figure, closing at 3.98 A. The American dollar weakened in relation to nearly all currencies.