ECONOMIC CONFERENCE

Wairarapa Daily Times, 14 June 1933, Page 5

ECONOMIC CONFERENCE

STATE BANQUET. MR DE VALERA ABSENT. LONDON, Tuesday. Tire Government gave a banquet to GOO conference delegates at the Grosvenor House Hotel. Mu - J. Ramsay MacDonald presided; the French Premier M. Daladier, sat on his right, and Mr Cordell Hull, the United States Secretary of State for Foreign Affairs, on his left. Mr de Valera was the only notable absentee. V-v*i‘ Sir lan Hamilton, who .was attending another dinner .in the lioteL in five pipers of the Gordon ers to play a trim phial march round the fifty tables. 1 jVt the conference the opening speak-,. , ; •er, M. Daladier, in eight minutes t-ra-- •> versed the difficulties of piroductipp and exchange under which of the world’s population is existing. Agriculture had suddenly found that its prices had fallen by. half,-.sometimes by two-thirds. How could they, deprived of purchasing- power, continue to be customers to industry? To thw evil of post-war mass production, was added the instability of currency. The maintenance or .restoration of' freedom of movement of gold was indispensable to the restoration of-the circulation of goods. The adoption of the forty-hour week within am international frame- , work was worthy of consideration. There was a tendency for all government policies to run counter to one an-' other. These must be harmonised to avoid economic warfare. . , «