WORLD TRADE

Wanganui Chronicle, Volume 89, Issue 266, 10 November 1945, Page 5

WORLD TRADE

INTERNATIONAL BODY U.S. PROPOSAL ACCEPTED BY BRITAIN IN PRINCIPLE Recd. 10 p.m. Washington, Nov. 8 An international trade organisation, proposed by the United States, and accepted in principle by Britain, would be authorised to investigate all private cartels or agreements restricting international trade, says the “New York Times" correspondent. Furthermore, members of the organisation would co-operate to curb private price fixing, regulation of exports, division of markets and limiting production. The proposed organisation would operate under the direction of the United Nations Economic Social Council. It would police private companies whose cartel policies were hampering the declared objectives of the organisation, but it was not clear what authority the organisation would have to enforce its recommendations. United States officials are confident tile organisation will help minimise the worst restrictions on world trade. They pointed out, however, that British acceptance of the organisation was dependent on their receiving 4,000,000,000 dollar loan.