A.—s

Bulgaria,, like Greece, has turned to the League for aid in the matter of financial reconstruction. Negotiations are now complete, and it is expected that a loan of £5,000,000 sterling will be shortly issued. The money is to be used for repaying the Government's debt to one of the banks, for strengthening the position of two other banks, for Budget deficits, for railway and road construction, and for repairs necessitated by the earthquake from which Bulgaria suffered early in 1928. Details of the scheme will be found in Documents A. 6 and A. 6 (a). The Second Committee's report to the Assembly is Document A. 70. It concludes with a resolution expressing satisfaction with the progress of the settlement scheme, and congratulating the Financial Committee of the League and the Bulgarian Government on the success which has so far attended the preparation of the stabilization scheme. This resolution was passed by the Assembly at its meeting on the 20th September. Relations between the League op Nations and Institutes or Bodies set up under its Authority. This question was raised during the discussion in the Second Committee in .1927 on the establishment of an Educational Cinematograph Institute in Rome, and the Eighth Assembly invited the Council to have it studied. This was done, and a report (Document A. 12) was submitted to the Council and approved at a meeting in June last. This report found favour with the Second Committee, who approved it, but at the same time suggested modifications providing for periodical meetings of the governing body of any institute, and for appointments to that body or to the superior staff to be made without distinction of sex and corresponding with the international character of the institute. The report to the Assembly (Document A. 71) was passed by that body on the 20tli September. The Economic Organization. As a result of the International Economic Conference, the Assembly of 1927 decided that the Permanent Economic Committee should be reconstructed and a new Consultative Committee created. Effect was given by the Council to this decision, and a list of the members of both committees will be found in that part of Documents A. 6 and A. 6 (a) which deal with the work of the League in the economic field. An excellent summary of this work is contained in the report submitted to the Assembly by the Second Committee (Document A. 66). The terms of reference of the Consultative Committee are, " To follow the application of the recommendations of the Economic Conference " ; whilst the Economic Committee concerns itself with the economic relations between States and their economic policies, so far as they have international aspects. During the long debate in the Second Committee stress was laid on several points, of which three may be mentioned : that the Economic Organization might proceed on the assumption that the present geographical distribution of industry would be permanent; that in dealing with tariffs the regard paid to their international aspects might exclude a sufficient study of their national aspects ; and that agriculture might not receive that consideration to which it was entitled. M. Loucheur, the Rapporteur, made an admirable summing-up of the debate, and I would refer you to his speech, printed on pages 233, 234, and 235 of the Journal of the IBth September. One passage may be quoted : " There are neither small nor great nations, but nations which have equal rights, and which may all make their wishes known." By way of comment, may I point to the success which attended the International Conference for the Abolition of Import and Export Prohibitions. 1 think it may be truthfully said that the International Economic Conference in 1927 gave a great impetus to the work of the League in the sphere of world economics, and the reports of the organization are worthy of careful study. Indeed —and I say it with emphasis —the work should be closely followed by the Government, and all requests for information should receive early attention. In this connection I may mention the International Conference for the Abolition of Import and Export Prohibitions and Restrictions, referred to above. This Conference met on the 17th October, 1927, and lasted three weeks. It drew up an international convention, a protocol thereto, and a Final Act, all of which are printed in Document C. 21, M. 12, copies of which have been forwarded to the Government. The convention is open for signature until the 31st December, 1928, and is subject to ratification. After that date States members of the League may accede to it. Article 6 of this convention provides for certain exceptions, and the annex to this Article gives a list of the exceptions agreed to by the Conference. A supplementary agreement relating to this Article was signed by representatives of certain States on the 11th July (Document C. 350, M. 106). In order, however, " to prevent the submission of any reservation under Article 6 of the convention in the case of certain prohibitions concerning, in particular, skins, hides, and bones, which are at present in force in a large number of countries," the Conference recommended that the countries to which these prohibitions were applied should confer with a view of ascertaining whether they could not simultaneously renounce all reservations. Accordingly fourteen States were invited to send representatives to confer at Geneva, and in March last meetings of representatives of twelve of these States took place. Two protocols were drawn up (one regarding the export of hides and skins, and the other regarding the export of bones) with a view to the conclusion of an agreement supplementary to the international convention referred to above. At further meetings held in June, international agreements, with protocols and Final Acts, were drawn up and opened for signature. The agreements have already been sent to the Government (Documents C. 344, M. 104, and C. 349, M. 105). They remained open for signature until the 31st December, 1928, but may be acceded to after that date.

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