The Wanganui Chronicle THURSDAY, MAY 11, 1933. THE CONFERENCE DELEGATION

Wanganui Chronicle, Volume 76, Issue 109, 11 May 1933, Page 6

The Wanganui Chronicle THURSDAY, MAY 11, 1933. THE CONFERENCE DELEGATION

ZEALAND’S delegation to the World Economic Conference is, perhaps, the most natural one to select at the present juncture. The Prime Minister should go to the most important Conference which has been assembled during the current century, because he is the head of the Government. The Conference is a conference for the consideration of monetary and financial problems and for the extension and liberating of the commerce of the world. Mr. Coates was at the Ottawa Conference, and represented the primary industries there, and were it possible it would have been desirable to have included him in the present team, so that the continuity of the work done at Ottawa should not be broken. The same applies with stronger reason to Mr. W. Downie Stewart, because of his knowledge of monetary and financial matters. It is quite true that the needs of the primary industries will be equally well cared for in the hands of Mr. Forbes, and as the problems which are confronting these industries are not complex no great demands will be made upon Mr. Forbes to acquaint himself with any details with which he may not at the moment be familiar. The selection of the Hon. Mr. Masters is appropriate, because in the present Cabinet he is the only man who has a grip of matters financial. He is the successor of Mr. Stewart. Mr. Coates, despite the fact that he holds the portfolio of Finance, only recently that he knew nothing of finance. For a novitiate to attend the present monetary conference to represent the Dominion would be unwise, to say the least. Even keen students of monetary problems are prepared to admit the difficulty of such problems, as well as their tremendous importance. For politicians to rely upon their instinct is indeed inadequate again, and the inclusion of Professor Toeker in the delegation is only plain common sense. The ordinary prudent man engages an architect when he decides upon the erection of his dwelling, he engages the services of a lawyer when his legal rights are the subject of negotiation, he engages a stockbroker when he contemplates investment in public securities, he engages an accountant when he desires a firm’s books to be investigated. Does anyone suggest that it would be desirable to dispense with expert advice in any of these circumstances? Would the plea of economy be an adequate defence against a charge of negligence should a trustee dispense with expert advice in the conduct of his trust duties? Certainly not! What, right, then, would the Government of New Zealand, which is in the position of a trustee or board of directors for a concern with a capitalisation of £1,000,000.000, to dispense with the duties of an economic expert to advise its delegates at a conference whereat will be congregated the ablest men of the world, each well versed in the peculiar - conditions of their own country? The committee of experts which will be available 1o the delegates will certainly not be in a position to tender specific advice to enable the New Zealand delegation to read aright the monetary proposals which will be placed before them. Those newspapers which cavil at the inclusion of an economist in the delegation can have no comprehension as to what the Conference is about to tackle. Instead of cavilling at the number of delegates, it would be more appropriate to point out the difficulties and the immensities of the problems which will confront the Dominion’s representatives. Representatives of 66 countries will be present. Previous experience has shown, in tariff matters particularly, that more can be accomplished by bi-lateral negotiations. It is for this reason that the Chronicle urged that the delegation should be numerically strong. The business that, will not face the expense of sending out travellers is on the road to liquidation.