WORLD RESTORATION

Waikato Times, Volume 111, Issue 18652, 2 June 1932, Page 7

WORLD RESTORATION

ECONOMIC CONFERENCE AMERICA TO PARTICIPATE. NO DATE YET FIXED. United Press Assn.—Elec. Tel, Copyright WASHINGTON, May 31. America's participation in a World Economic Conference proposed by the British Prime Minister, Mr MacDonald, appears to be assured. The Secretary of State, Mr H- L. Stimson, after a 'conference with the President, Mr Hoover, announced today that the Government had replied favourably to the British inquiry as to its attitude on the matter. No date has been fixed, but Mr Stimson said he favours an early conference. However, he expressed the opinion that it would not be before the Lausanne or Ottawa Conferences, perhaps in November. No ageda had been agreed upon pending negotiations with the British Government. Mr Stimson said that the reparations, war debts and disarmament discussions would be barred. He expected the conference would discuss currency, foreign exchange, the gold' standard, silver and other questions as well as trade. The British Note said the purpose of the conference would be to consider methods of stabilising commodity prices. It is felt in Washington that the calling of such a conference for an early dqte might be of real value In the present period of depression. LATER.

QUESTIONS IN PARLIAMENT. PROPOSED CONFERENCE. ONLY A PRELIMINARY STAGE. (Official Wireless.) (Received June 2, 12.30 p.m.) RUGBY, June 1. Exceptional interest was displayed in a reply given by Sir John Simon (Secretary of State for Foreign Affairs) to Mr Geo. Lamsbury (Leader of the Opposition) in Hie House of Commons. Mr Lansbury asked whether Sir John Simon could state the present position regarding the International Economic Conference which, according to the Press, was favoured by the United States of America. Sir John Simon said: “Within the iast few days conversations have taken place between the British Government and the United States on a suggestion that an International Economic Conference should be called to consider methods to stabilise world commodity prices. The matter had not advanced beyond the informal and entirely preliminary stage. So much so that the opportunity of consulting with the other government chiefly concerned has not yet arisen. It had to be remembered that the order of reference for the conference at Lausanne include among the objects to be sought, not only tiie settlement of reparations, but an agreement on measures to solve other economic and financial difficulties. Unless, therefore, the United States sends representatives to the second part of the Lausanne Conference there was a danger of overlapping, and the questions of time and place would remain to be considered if a further conference were decided upon. At the same time the importance of United States co-operation in such discussion was so great that the British Government was losing no time in consulting other governments, who would be assembled at Lausanne, on the suggestion which had been made."