GOOD BUSINESS DONE

Waikato Times, Volume 113, Issue 18930, 27 April 1933, Page 7

GOOD BUSINESS DONE

WASHINGTON PARLEY.

JOINT STATEMENT ISSUED ANGLO-AMERICAN ACCORD. UNITY OF AIM AND METHOD. Me Ramsay MacDonald, the British Prime Minister, In a statement to Washington Journalists, stated that though no definite decisions have been reached, as th.e result of his parley with President Roosevelt, “ It has been really good business we have done.” The President and Prime Minister have Issued a Joint statement In which they, In effect, state that it has been established that both countries have a common objective In view and are largely agreed as to the methods necessary to attain It.

United Press Assn. —Elec. Tel. Copyright, (Received April 27, 9.30 a.m.)

WASHINGTON, April 26

The following joint statement has been issued by Mr Ramsay MacDonald and President Roosevelt:

“As stated yesterday, our discussions on the questions facing the World Conference were not designed to result in definite agreements, which must be left to the conference Itself, but they showed that our two Governments are looking with a like purpose and close similarity of methods at the main objectives of the conference, and are impressed by the vital necessity of assuring international agreements for 'their realisation in the interests of the people of all countries. The practical methods required for their realisation were . analysed and explored. “The necessity for an increase in the general level of commodity prices is recognised as primary and fundamental. To this end simultaneous, action needs to be taken. Both the economic and monetary fields and commercial policies have to be set to a new orientation. There should be a constructive effort to moderate the network of restrictions of all sorts by which commerce at present is hampered, such as excessive tariffs, quotas, exchange restrictions, etc. “ The central banks should, by concerted action, provide adequate expansion of credit and every means should be used to get the credit thus created into circulation. Enterprise Must be Stimulated. “ Enterprise must be stimulated by creating conditions favourable to business recovery. The Governments can contribute by the development of appropriate programmes. Capital expenditure and the ultimate re-estab-lishment of equilibrium in international exchanges should also be contemplated. “ We must, when circumstances (permit, re-establish an International monetary standard which will operate successfully without depressing prices, and avoid a repetition of the mistakes which produced such disastrous results In the past. “In this connection, the question of silver, which is of such importance in trade with the Orient, was discussed, and proposals tentatively suggested for improvement of its status. “ These questions are all interrelated and cannot be settled by an individual country acting by itself. The achievement of a sound, lasting world recovery depends on co-ordina-ting domestic remedies, and supplementing them by concurrent and simultaneous action in the international field. i “ The proposals examined will be discussed with representatives of other nations who have been invited to Washington with a view to securing the fullest possible measure of common understanding before the conference meets. Conference Probably In June. “It is the hope of both Governments that it will be possible to convene the conference for June. “We have in these talks found a reassurance of unity of purpose and method. They have given a fresh impetus to the solution of problems that weigh so heavily upon the most stable, industrious and deserving men and women of the world, the human foundation of our civilisation, whose hard luck it is our common object to alleviate.” Much Accomplished. Mr MacDonald told the journalists that the conversations had accomplished more than' lie thought possible when lie arrived in America. He reiterated, however, that there had been no agreements. 1 He said: “ | am as free as when I came, but It has been really good business that we have done.” CONVERSATIONS CONCLUDED. ENTHUSIASM IN WASHINGTON. WAR DEBTS IN ABEYANCE. United Press Assn. —nice. Tel. Copyright. (Received April 27, 10.55 a.m.) WASHINGTON, April 20. Enthusiasm over the results of the Anglo-American conversations was expressed by those close in touch with .Mr Roosevelt. Tlie question of war debts relief for Britain was taken up on Tuesday night, but was not mentioned in Wednesday’s final statement. It remained for future selllemenl, logclher with Ihe economic programme outlined by the two Statesmen., The debt payments become due on June lb, almost simultaneously witii the meeting of the Economic Conference. Mr .MacDonald left Washington at noon for New York, on route to Loudon.