1949-07-14 — Page 9

THE CHINA MAIL, THURSDAY, JULY 14, 1040.

WORLD AGREEMENT

CONTINUOUS SURVEY OF THE ON FOOD SUPPLY

STERLING AREA NEXT MOVE?

Possible Result Of New London Talks

COMPLICATED PROBLEMS

London, July 12.

There are indications from several quarters today that the confer- ence of Commonwealth Finance Ministers, starting tomorrow, may discuss a proposal to set up an organisation to keep the Sterling Area under continuous survey.

This organisation, on which all members of the Sterling Arca would be re- présented, would have its headquarters in London, but the Chairman might be a statesman from one of the Dominions.

It would resemble the continuing "Organisation for European Economic

Co-Operation" of all the European Marshall Plon countries.

This

Its pur- pose would be to keep a continuous survey of all current statistics and developments relating to the Sterling Area and its relations with the the Commonwealth dollar area, and to make recommendations Finance Ministers.

sutigestion Is

expectedly

to be marie by severat delega- tions, on the grounds

Phot

British

proposals 14

which represent a hard policy-will

to

of Cevies. Aን! J. R. Jayawar- te of dena, Finaner Munader.

14! be aimed Best the that

the Hollors for earning more Sterling Area, and, second, saxing more dollars,

dallur problem is sa large zolutions of difficulties would, at

best, take several months:

Southern Rhodesia:- Me, E. ( 1. F Whilehead Finner Minister.

Northern Ireland (observer) '-- Major J Maynner Sinclair. resetions Finaner Minister,

Commonwealth Finance Minis- The Commonwealth emm?ries,

in turn, will give to

icleus and

their own.

ters cannot remain in London for

to Britisha they such a long time, nor can come to London at frequent in- tervals to be presented as they

believed Res be arc

thla occasion-with some 50 pages of

by British officials,

оп

ון

ndvaner

Washington wii be kept in- formed of any emelusions

Target For 1950

URGED BEFORE UN

Genova, July 12.

A worldwide systom of agreements, aimed at in- creasing food supplies by the economical dis- posal of surplures, was proposed by India to- day. :

United States Must Buy More Mr From Empire

London, July 12. The New Zealand Finance Minister, Mr. Walter Nash, cald on arriving here today that to solve the dollar oriela the United States must buy more from. Britain and Com monwealth countries.

Mr. Nash will attend the con. Commonwealth finance ference beginning tomorrow.

"Britain's dollar crisis. ls Just an much a New Zealand problem. We are aft in this together," he declared.

At the moment, he added, he in not in favour of a policy of horrowing to solve the dollar shortage In the Ster. ling Area. Reuter..

INDIAN ATTITUDE

TO CRISIS

London. July 12. *A member of the Indian delegation to the Common- wealth inancial talks said here

The target for exports to Ninth Amertea un the 1950 calendar today:

Is £80,000,000,

statisties and anulyses prepared developments at the conferenser, ¦ year

The delegates will meet for the experts, first time tommorrow morating No. 10 Downing Streek. where that Sirhey will be received by the

tish Prime Minister, Alt. Attlee.

Reaction to the proposal British quarters.

to be appears divided. It is believed Staffed Cuppo himself is unco vincest,

Ten Days

The Arst plenary session slart shortly afterwards

B. P. Adarkar, the economic chief of the Indian External Affairs Ministry, made the proposal in the Economic Committee of the 18-mem- ber United Nations Economic and Social Council, at its session here..

He said "Our view has been that it is an intolerable situation that food surpluses are arising in some parts of the world and mal- nutrition and famine are still ranipanti alter parts of the work."

He moved a resolution colllug on the main food-producing coun- tries to enter into bilateral ar- to' furilitate the Cangements

In

ecmornica Aisposal ot surpluses

restrizionism and to avoid their future “production of fool. at least in such time as the world's population is adequately, and properly nourished.

The resolution added that high Tool pric Fre upsetting the balance of payments of Importing

countries.

SPECIAL MISSION TO UK

Washington, July 12. The former, Under-Secretary of Navy, John Kenney. has been named Chief of a special recovery mission to the United Kingdom, the Economic Co- operation Administrator. Paul Hoffman, announced today.

The announcement whs trade as Mr. Kenney, aged 45, was sworn In at the ECA Headquarters.

It urged the United Nations

Mr. Hoffman said he and Mr. Food and Agricultural Organisa-Kenney will leave for Europe as tes to take prompt and compre soon as the Congress completes hensive measures to mercase the action on the 1050 ECA appro- production of food in under-de-printion. They will go first to veloped countries,

Paris for conferences with Mr. Averell Harriman, ECA Roving Ambassador in Europe, and then gu on to Londen where Mr. Ken- ney will assume the post from which Thomas Finletter has re- signed,

Guarantees

Mr. Adarkar wald that the suggested agreement would in. clude sufficient guarantees for all parties.

The extent of price reductions to those "We came here to ask matter best left

the bilateral or excluding 1ltain to release more Sterl-entert into

ing and dollars to enable us to solve sair exchange problems: instead, we are being asked to help her in her own crisis."

Canada aru! the United States Bri-are the ty large markets where Senteri Kingdom exparts directly card dollars, and are, therefore, ranked at top priority. But al servers say there is need for in- to other Created exporis hard enereses markels.

Tinelurte

will

Argentina

multilateral agreements reached,

The Economic Committer con- of the In- dinn proposal to

five-aptions Working sidered the reference

Sub-Committee for examination, but Mr. M.P. Mora- This seems to SEITE LEP frame of mind of India, Ceylonzov, the Soviet delegate, deamuel- and Pakistan to the talks which open here tomorrow,

the

The problems are complicuted by the inusual character that the Sterling Aren dollar post has re-

(to The Indianı delegation under- cently assumed. Except Ceylon, the great horse-shoe table ins the

pay for meat, Jude, skins, Husred stand Aritain's dimculties, BLE! which has been (but may not re- Cabinet oflens-part of the Stei

way in which to the contributor

tish Treasury building incent and al supplies) Belghan and they can see no main) net

|Switzerland de redure Sterling Inelia vann oppreciably miilfy her pool, and South Africa, which to the Prime Minister's officia) r-

Ara deficits with these enuntries femands for her own immediate all thesidence, $.02 4 touter

now eesting. Belton gold) and requirements, the delegate stated. This session will discuss

the now Steing Domningens draw on tha

Persia (to supply her with con-

provided dollars

Observers think the conference

to

of it

From time to time the con- ference will break

up into

|

in 3.

India bas voluntarily taken all by Br possible measures to cut down unessential Imports, stimulate her exports and keep down the spend- ing of hard currency.

small groups and committecay consider a solution of the

doitur earning and saving

to deal with specific problemeblem on the following lines! of Individual Commonwealth

pro-

pool. The Colonies a whole are programme and agenda formalities she is at present buying. substantial contributors to It conference, which expected. to

Thus, this pool, which has been lost about 10 days.

diminishing. distributed rapidly

all the

Dominiens Sterling (except South Africa and Ceylon) some of Britain's Marshall del- lars and some of the dollars earn- ed by the

Colonies, This does

that the not mean ather Sterling Dominious have in any way been exploiting Ceylon and the Colonies. Any obtained from them are

countries.

The principal British delegates are Sir Stafford Cripps, Chap- Exchequer, Mr. cellor of the

Common- dollars Phlip Noel Baker, earned wealth Relations Secretary, Mr.

by sending them goods, some of Arthur Creech Jones, Colonial which could otherwise be sold in Secretary, dollar markels.

Dollar Pool

Mr. Horokl Wilson, President of the Board of Trade, and Mr. Douglas Jay, Economi Secretary of the Treasury,

The other leaders are: Canada: Mr. Douglas Abbott, Finance Minister: Mr. M. W. Mac-

If the dollar pool were dis- banded Britain would stand to gain at first sight, since Mar-Kenzie, Deputy Finance Minister. wha1 Ald is allocated to Britain,

Australia-Mr. John J. Ded-

and Britain and her Colonies man, Defence Minister, represent- rank at a single unit in the Ling International Monetary Fund,

But no question of disbanding the dollar pool is thought likely to arise. Britain would not want to do it. Nor would any of the Dominions who are drawing mure from

the pool than they are put-

the Prime Minister, Mr. Joseph Chiley, who is his coun- try's Treasurer,

N.

C

New Zealand: Mr. Waller Nash, Finance Minister.

South Atrient--Mr. Havenga, Finance Minister.

South Africa:-Mr. N. C. Hay Inttia: Mr. John Matinal, Finance Minister,

Ling in.

Some observers think it much Pakistan:- Mr. Ghulam Mu- likelior that South Afcles might|hammad, Finance Minister.

the In- rejoin the pool after pending exhaustion of her Kold

Joan to Britain.

Commonwealth economic leu- ders in secret conference will be- gin their search for a solution of the Sterling Area's dilemmu Spotlighted by Britain'a an- nouncement of the recent sharp lecline in gold and dollar ra-

serves.

The leaders will speak for Bri- tain, Canada, Australia, New Zea- land, South Africa, India, Pakis ton, Ceylon und Southern Rhode- sla, Northern Ireland will also be represented--but as an obsbryst. No sudden or dramatie тея- sures should be expected troni the talks, authoritativo quarters indicate.

the

The conference will consider Interium measures to meet immediate problem of halting the drain on the Sterling Area's dollar and gold reserves.

But major decisions, on long- terrá solutions are not expecfad [N] unill the Anglo-American- Canadian economie "Big "Thrus" moet, at Washington In Septem- bor,

* Earning And Saving

Proposals from the Common- weath conference will be sub- mitted to the Commonwealth Governments by their respective Finance Ministers for approval;

The Brilah Chancellor of the Exchequer, Sir Stafford Cripps, talks with a critical which tentative British

of the

W open the vital poin

to

outline a a series of meet the immediate dollar crisis in the Sterling Area, banka

He told Parliament last week that in the last quarter the re- perver has fallen from £171,- 090,000 to £400,000,000,

cor dollars

India's reply to

the view that

that further consideration be given to it at the next meeting of Ce Remminic Committee-Reuter

Internuncio To Egypt Dead

Monsignor

London, July 12.

Hughes, Arthur Roman Catholle Popal Intemnuncio for Egypt, died of a heart attack today while on short leave from his duties in Cairo,

The Internuncio, 46, had been

Mr. Kenney was with the Navy Department from 1941 to May of this year. He resigned along with the former Secretary of Navy, John Sullivan, after the latter's fight with the Secretary of De-

over this fence, Louls Johnson, cancellation of pians to build the Navy's controversial super-car- rler.Unlied Press.

FESTIVAL OF 'BRITAIN

London, July 12. Commonwealth Governments and have not been Administrations invited to arrange for navillons or other displays at the Festival of Britain Exhibition In 1951 because of the shortages of man- rower and materials, Mr. Herbert Morrison, the Lord President of the Council, said in a Parliamen tary reply today.

The Commonwealth

Govern-

Apostolie delegate in the Middlements have however, been invited

to arrange

nge supporting events and East since 1942, the Arst English-

to suggest ways in which, within man to hold the position.

limits of space and the severe materials, the Festival

may in.. clude suitable references to the uchievements in their countries, he nail-Reuter.

all Dominions except Ceylon are, (1) By saving United King- In the main, drawers from the (in January Sterling Area's dollar pool is, ac- Britain aloed at diverting cording to a member of her dele. A former London newspaper-

£100.000.000 worth of gation.

that the net trading ne-man, he previously served as n purchases away from the count with the dollar area is ont Catholic missionury in Uganda and Western hemisphere by a real criterion for judging the Abyssinia.--Associated Press, 1952):

contribution of each member of the Commonwealth.

(3)

Fly

F

Comm saving other

india, for instance, he salo monwealth countries dol- Je selling within the Sterling lars in the

Arca cuse of goods

commodities goods and which

Britain cannot at which could present supply to them.

(3) By inereasing fise dollar Sterling earnings of the

Area. In this. observers say, Britain portant

dollar caally be

CHINA STUDENTS

IN THE U.S.

Washington, July 12.

The House Foreign Committee earners for herself if diverted today tentatively approved a bill elsewhere

alternatively, authorising State Department

dollar axpenditure For Anancial assistance for the sub- stifer Sterling Area members. sistence, tuition und return pas-

The delegate added that India sage of Chinese students st pre-

has an im's very much concerned with the sent enrolled in accredited .col- part to play in problems facing the Sterling Area leges or universtues in the United Commonwealth develop and genuinely desires to help States.

ment by supplying capi Bolve these problems, although The bill authorises the expendi-)

tal equipment and mater-she has not yet any suggestions ture up to $4,000,000 for these

els offering long-term to offer.-Reuter..

contracts, providing 5-

sured markets for Com- and monwealth produce,

in suitable cases by direct participation in develop. inent schemes.-Reuter.

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