1938-01-28 — Page 7

THE CHINA MAIL, JANUARY 28, 1938.

Page

M. VAN ZEELAND RECOMMENDS INTERNATIONAL CONFERENCE Report Of Economic Investigation Now Published

LITTLE READINESS

FOR PRACTICAL AID FOUND IN TOUR

London, To-day.

RETURNING-

TO SHANGHAI

London, To-day.

Wing Commander Kerby, Bri tish air attache at Shanghai, is re- turning to Shanghai to resume du- ties after a short visit to London. -Reuter.

AUSTRALIA TAKEN OFF “BLACK_LIST"

Washington, To-day. Paving the way for ultimate con- clusion of an Australo-American trade pact, Australia was yester--

Weighty suggestions are made by M. Paul van Zee- land, former Belgian Premier, in his Report presented to the British and French Govern- ments as a result of his "enquiry into the possi-in an attempt at international eco-day removed from the "Black List" bility of obtaining general reductions in quotas mic collaboration, and if they ac-of nations ineligible for most fav- and other obstacles to international trade." cepted the main lines of this Report oured nation treatment by the Unit-

as basis of discussion.

ed States. In the course of his investigations since last April,

Next stage would be appointment The United States Consul-General Mr. van Zeeland has visited the principal Cen- of a bureau which would receive at Sydney has notified the Austra- tral European and Western European coun-from all states, and would draw up Australia's decision to abolish im- information and representations lian Government that following tries.

At the outset of the Report, he unhesitatingly fa- vours international economic collaboration as a better objective than autarchy.

He declares that no country can Quotas are described as one of the avoid being influenced by the gen-most formidable obstacles to inter- eral movements of

international national trade.

evil.

a programme of constructive ac- tion.

BRITAIN'S ATTITUDE

If the interested parties took up a favourable attitude, the bureau would draw up a pact.“

FRA

It is understood that the British Government is prepared to play a part în practical action on the economy, whether for good or for Gradual suppression of indus-lines suggested in the Report if trial quotas are recommended but other countries are ready to join in. Theoretically, autarchy is not there might be higher tariffs for

-Reuter. unattainable, but it is evidently out quantitives after the first quota is ex- of the question except in a large hausted. national market dominated by an Suppression of quotas does not exceptionally powerful central au-imply suppression of international thority.

AUTARCHY'S EFFECT

au-

M. van Zeeland holds that tarchy involves an increase in the real cost of living and a lowering of the standard of life.

Although M. van Zeeland found that all countries displayed great interest in his mission in principle, this attitude almost everywhere be came qualified by a marked reserve in regard to embarking on prac- tical action.

cartels.

No obstacles to international trade are more harmful and more formidable than from monetary dis- turbances or restrictions arising from transfer of capital or coin- mercial payments.

GOLD STANDARD

DANISH PRINCE IN MISHAP

Copenhagen, Jan. 27.

-

port restrictions on American goods, Australian products henceforth will enter the United States under: most favoured nation treatment. Reu- ter.

HUMBERT WOLFE PROMOTED

London, To-day.

It is announced that Mr. Humbert Wolfe of the Ministry of Labour, who has more than once represent- ed the United Kingdom at interna- tional... conferences under the Prince Frederick of Denmark had Organisation, has been appointed League's International⠀⠀⠀ Labour a narrow escape when his motor Deputy Secretary of the Ministry car, driven by himself, collided with to succeed Mr. J. F. G. Price on the a car belonging to a local trades- latter's retirement at the end of man. The Prince's car was only March.

Ruling out the present practic slightly damaged while the other Mr. Wolfe has also an interna- ability of re-establishment of the vehicle was completely wrecked. No tional reputation as a poet, essayist gold standard (though on a consi- person was injured.-Trans-Ocean, and critic-British-Wireless. derably altered basis) as solution of the problem of an international monetary standard, he suggests in- terim solutions in revision and ex- tension of the Anglo-Franco-Ameri- can tripartite declaration.

Dealing with tariffs, and in view of the act that a general move- ment for reduction is outside the range of possibility, M. van Zeeland thinks that the Government might

The parties would define recip- undertake not to raise and widen rocal parities of their currencies, the present range, and gradually and would pledge themselves to reduce duties of an exceptional keep eventual variations within cer- character.

tain limits for at least six months.

RAW MATERIALS

all

He favours abolition of exchange controls and clearing by stages.

CURRENCY RESTRICTION

First and most urgent step is sup- pression of restrictions on payment for merchandise.

He proposes suppression of duties and restrictions affecting ex- -port of raw materials. One of the most efficacious methods of reduc- ing tariff barriers is negotiation of bilateral commercial agreement bas-

With reference to liquidation of ed

on the most-favoured · nation clause.

past arrears, it is desirable that bonds issued by debtor states be ex- But

application of this clause should be exercised in the spirit pressed in the creditors' currency. originally inspiring it.

Current arrears should be treat- ed in the same way as new debts. Formidable hindrances to interna-

Countries freed from restrictions tional trade include indirect pro would require trade credit facilities tection by a series of restrictive re- which might be arranged through gulations. Best-known example is the Bank of International Settle- abuse of sanitary regulations in or-ments. der completely to close the home market against various products,

POLITICAL ISSUE

also the framing of resolutions! The concluding part of M. van which really aim at some individual Zeeland's Report finds it impossible producer, as well as abuse of dump-to ignore the fact that he is work- ing measures.

QUOTAS

M. van Zeeland here again ad- vocates a bilateral agreement and reference to arbitral bodies in case of complaints.

ing in the shadow of unsolved poli- tical problems, including arma- ments..

He finally recommends a prelim- inary conference of the principal economic powers, who would be asked if they agreed to participate

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