THE TARIFF TRUCE.

Waikato Times, Volume 113, Issue 18944, 13 May 1933, Page 5

THE TARIFF TRUCE.

PRELUDE TO CONFERENCE

COMMITTEE’S RESOLUTION. AN APPEAL TO THE NATIONS. (Official Wireless.) (Rooeived May 13, 12.30 p.m.) RUGBY, May 12. A communiqhe issued toy the Organisation Committee of the Monetary and Economic Conference states the following resolution was unanimously approved -by the committee: “The Governments of the United Kingdom, Germany, Belgium, United States, France, Italy, Japan and Norway represented on t’he organising committee, are 'convinced -that it is essential for the successful conclusion of the conference that the measures of all kinds which at the present time misdirect and paralyse international trade, should not toe intensified pending an -opportunity for the conference to -deal effectively with the problems created, and they -therefore recognise the urgency of -adopting at the beginning of the conference a -tariff truce, the provisions of which shall be laid -down toy a common agreement.

“The 'Governments toeing further convinced that immediate action is of great importance, strongly urge -all other Governments participating In -the conference to agree that they will not before June 12, nor during the proceedings of the conference adopt any new initiatives which might increase the difficulties now -arresting international commerce, -subject to a provision that they retain the right to withdraw from this agreement at any time after July 31, 1933, on giving one -month’s previous notice to the conference.-

“One of the main motives which brings the -Governments together in conference is to* surmount -obstacles to international trade, and the Governments, therefore, urge all other Governments represented at the conference to act in conformity with the spirit of this -objective. “A note is added to the communique stating it is understood that this action would not }ie in -conflict with the above resolution if taken in accordance with the -considerations set out in that part of the draft agenda which emphasises that some increase in the level -of world prices is highly desirable, and would be' -the first sign of world recovery. “It is 'recognised among the members of the -organising committee that good faith is the essence of the "esolution, which constitutes a ‘gentlemen’s agreement.’ ’’ The resolution is to come into im-) mediate effect by the -signatories, and Sir John Simon is at once -communicating 'its terms to the other nations and inviting them to take similar ac--tion.