WORLD RESTORATION

Waikato Times, Volume 111, Issue 18653, 3 June 1932, Page 7

WORLD RESTORATION

U.S.A. CO-OPERATION. SIR J. SIMON’S STATEMENT. f WELL RECEIVED IN BRITAIN. United Press Assn.—Elec. Tel. Copyright. LONDON, June 1. Sir John’s statement in the House of Commons with reference to the proposed conference pn world rehabilitation and the desirability of securing American co-operation, has been welcomed by all parties. The view held in some quarters that the new conference would mean overlapping with the Lausanne Conference is countered by the possibility of eliminating the- third stage at Lausanne for the discussion of measures for the relief of the depression. The advantage of examining wojld economic problems in conjunction with America is everywhere recognised. It is understood that the British Government suggested to Washington that the Lausanne Conference after dealing with reparations, should meet as an International Economic Conference with America represented. However, Washington’s wlllngness for London to be the venue clearly shows a desire to avoid Lausanne, which is associated in the mind of the American public exclusively with debts and reparations.

The ' opinion is widespread, therefore, that the new conference means a modification of the agenda of the Lausanne Conference with an extension of the moratorium to Germany and possibly the postponement of a conclusive reparations agreement until the new conference is ever. Sir John Simon had a further talk with the United States Ambassador, Mr Andrew Mellon, yesterday and Interviews with the French and Italian Ambassadors.

Civilisation May Crash. Mr Lansbury says the Labour Party would welcome such a conference, which it has long advocated. “The world cannot wait," he declares. “The whole civilised life of Europe, indeed of the world, will crash before our eyes unless co-operative action is taken now.” The Daily Telegraph expresses the opinion that the new conference will be a boon for the Dominions, going as it will to the root of their difficulties. The Financial Times asks: “What will be the end of this process of referring, deferring and conferring? One thing is certain, namely, that unless something effective is done soon to stem the process of disintegration of the world’s economic system a situation will be reached in which agendas will have little bearing upon the reality. , "There are three things to be done and all are inter-connected. They are: (1) The disposal of reparations and debts; (2) the removal of impediments to international trade, exchange restrictions, quotas and penal .tariffs: (3) a settlement of price levels.”

LATER. ECONOMIC CONFERENCE. AMERICA WILL CO-OPERATE. IF GATHERING HELD IN LONDON. United Press Assn.—Elec. Tel. Copyright. (Received June 3, 10.5 a.m.) WASHINGTON, June 2. It was disclosed at the State Department to-day that if the Lausanne Conference holds an adjourned meeting at London for the purpose of discussing • plans for the betterment of the world’s economio conditions, the United States will be quite willing to attend. The United States has repeatedly refused to go to Lausanne, because it feels the conference there Is primarily for the discussion of reparations and war debts. Britain and the United States are In complete agreement on holding a world economio conference in London, and the United States Government will attend at anytime if such a conference can be arranged.

NEGOTIATIONS PROCEED. MUCH INTEREST AROUSED. FRANCE AND ITALY APPROACHED. (OlTlcial Wireless.) (Received June 3, 10.30 a.m.) RUGBY, June 2. The project for an international economic conference to consider the whole question ol' world Lrade • has been advanced a stage further. Sir John Simon (Secretary of State for Foreign Affairs) was in conversation with the French and Italian Ambassadors in London yesterday, and a further conversation took place with M. de Fleuriau (France) to-day, and enquiries in other quarters are being vigorously pursued. As was pointed out by Sir John Simon, the proposal for holding another conference was complicated by tiie imminence of the Lausanne gathering. It naturally has been felt that to call a further conference, simultaneously in time and similar in object, 'with that of Lausanne would present difficulties. The suggested division of work at Lausanne into two parts—the ilrst of which would concern itself primarily with European problems, war debts and reparations, and the second with other economic and financial problems underlying the world crisis—appears to have met with a favourable response in the United States, The latest press messages from Washington state if was officially indicated last night that there would be no objection to the United States participating in the second half of the Lausanne Conference, especially if the agenda were broadened. It is pointed out that the second half of Hie conference deals with general economic issues, compared with Hie first part, which would deal with reparations. Tho French Standpoint. Reports from Paris state that tho news that the United States lias offici-

ally agreed to take part, in the second Lausanne Conference was received witti great interest there. M. Herriot and other Ministers decline to commit themselves to any statement until Hie Cabinet lias actually been formed, but it is pointed out. that France would have absolutely no objection to participation in an Economic Conference, and even in a possible monetary conference, but it is added that In regard to the taller she would insist, that such conference he organised and held under the auspices of the League of Nations.