1949-08-29 — Page 7

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THE CHINA MAIL, MONDAY, AUGUST 29, 1949.

TRIPARTITE CONFERENCE ON DOLLAR CRISIS COMMENCES

BIR STAFFORD CRIPPS

Cripps Mission To U.S.

London, August 27.

12

The Cabinet will med Monday T

Stafford EIVE Sir Cripps his and mandate for the

Ther colla eeksls talks which open fin Wa- shington on September 7.

"

Experts Pave The Way For September Talks

SHORT-TIME SOLUTION

Washington, August 27.

The dollar crisis talks between the United States, Britain and Canada opened here today with a meeting of experts for technical and fact-finding discussions.

They are preparing the way for the meeting on September 7 of the three Powers Finance and Foreign Ministers Sir Stafford Cripps ander Ernest Bevin for Britain, Mr. John Snyder and Mr. Dean Acheson for the United States, and Mr. Lestor Pearson and Mr. Douglas Abbott for Canada:

On September 13 representatives of the member countries of the Interna- tional Monetary Fund are also expected to discuss questions related to the dollar and sterling position. The basic question before all threa conferences is the same.

the United States and Britain

It

of

Is to plan

In this short-term and However, the problem

is not merely newspaper talk. long-term mensures whereby Bri-commuction would be how in in- and other Sterling Area ekule such warlime neutrals as Con

It does represent the thinking of some influential officials in the constvies van obtain more dollars Sweden, under that defluition.

American goods, either

tempor

Department. suspension through selling more goods to

be brought to the arttele

willin

As a result is not inconceiv- America or through being given aboart. Britain would be or lent the dollars by one means to use an open leence system for able that Mr. Bevin and Sir Stat- ford Cripps might take up this the winle of Western Europe an

reetprocal basis which means subject on their arrival here to their re if there could be tiny start of quotas susjiendom

on a practical basis to such ideas, trade relations.

-Reuter and United Press. That would be the first step towards a return to the mut. lateral system and could be extended later to other

another by the United States. Offcials engaged In the talks

do not expect any long-term solu tion of Britain's dollar shortage to rune imediately nut of the September talks,

J is frankly acknowledged here that the too short to negotiate any such solution.

time available Is

They expert the dollar drain during the tard quarter of 1949 to be about the same as in the serond quarter.

12)

High Tariffs

|

in

Areas

such as the British Common.

wealth.

Opposition To Czech Communists

Secret Report On Europe's Currency

Experts of the International Monetary Fund have vịn. tually completed a top secret report which, with certain re- servations, advocates a re-alignment of soma Western European currencies, including Sterling. The report is purely advisory.

The report is conceived in very guarded terma bui, Ita Implication clearly appears to be that if the Fund is officially consulted by interested member nations, it will recommend a re-alignment of certain Western European currencies, in- cluding Sterling.

The document also contains the Fund's views of the effect of the re-alignment of such currencies on import and export prices and that with these factors taken into consideration. It would appear that more is to be gained from the re-alignment of certain currencies than from their present values.

The report in so secret that few dịplimata have had no- cess to it. The report is to carry a number but is title in the interests of secrecy-United Press.

TITO ACCUSES RUMANIANS

BAD FAITH

OF

Belgrade, August 27,

Yugoslavia today accused Albania and other Rus- sian-dominated Cominform neighbours with having designs on parts of her territory. The newspaper "Borba," voice of Marshal Tito's Government, reported that Rumania particular- ly is eager to annex the fertile farming district of Banat.

growing basket"

Banat, a rich wheat and corn belt in the "bread of Vojvodina, was saved from Rumanian acquisi- tion during the last war on the advice of Yugoslavia's Queen Maric to her nephew Michael, then King of Rumania.

As

which

Red Warship's Danube Jaunt

Belgrado, August 27. A Russian warship steam- od down я 200-mile stretch of the Danube River through Yugoslavia in August from Rumania to Hungary and re- turned yesterday, delying Yugoslav orders to half on both occasions.

This was learned early to- day from Irrefutable sources and confirmad in full by offi. clals of the Yugoslav Minis. try of

Transport, United Press.

TIME TO EARN MORE DOLLARS

"Borbo" linked its charge with the report that Rumanian Com- The Chancellor of the Exche

munist leaders are spreading false quer will have wide proprs for

Arttele Nine at present would

claims that Yugoslavia plans to handle all the, questions discuss

atlow British and Americas the prevent full lntra-Western Euro- et by the “Big Three". Sie Stuf-

pan trade under the open Heence

use of its territory for attacks fani Cripps (Britain). Me. Dan

system because prices being equal,

upon Cominform countries. W. Snyder (United States) al

The article reviewed detail What the tritish expert to get Britan under this article is, for

London, August 27. Mr. Douglas Abbott (Canarie

bad rela

with tions

Rumanin of the conference from a instance, obligated to buy timber

Dr. Jrormir Smutny, former alleged maltreatment of Yugos Accompanied by the Foreign comparatively short-term point of in the United States as well as

Chancellor Secretary, Mr. Ernest Bevin. Sirview is:

under lav citizens, Scandinavia.

viointion of trade The delegation Czechoslovak

the late President Edouard Benes, Stuford will go to Washington

feels that such chuki be done in with sud Caldnet hacking d

nwider interpretation of United slon to settle in Britain, declared went on to say that the campaign who has just been granted permis-trenties, refusal to fulfill terms of the beaty of friendship. It only for the line he will take at (0) Support by the United

States tariff regulations which here today that 90 per cent of the was designed to portray Yugos- the talks but also at the, follow States for an increase in Britain's are Balleved to be more strictly Czechoslovak people are opposed ing meeting of the Intrenationist share of the Marshall Plan funds. Interpreted by customs offietals to Communism.

invin

enemy from Monetary Fund.

United States permission than those of almost any other

Rumanians have to expect danger. Beitabi's approach to the "Big for Britain to spend her Marshall

***** [nation.

He described those favouring

"Borba

said that the Ru- Three" talks will reflect no "cal At as economically as possible-

Party The United States could prob- Communism-the

"high-manian Communist party is plan- De band" attitude. Sir Stafford Wherever they will buy the most ably take administrative action ups," fellow-travellers and genu-ning to launch an all-out cam will advance comerete proposals | KU

Kods azer the most essentin!

this without referring theine Communists—as a shocking

paiga

New York, August 27. for the nequisition of Banat aimed at Burrowing the dollar goods, in

matter to the Congress. The Bri- minority.

"If free elections could be held tests of the

The Marshall Plap Administra- but were dissuaded only by pro- 190p.

tish would naturally like to see

Rumanian people tor, Mr. Paul Hoffman, declared (3) A more liberal Interpre reduction.

they would not get more than 10 United certain

today that it is high time that want friendship with here per cent of the total vole,” he as- tation by the United States au- States tariffs but little hopo 19

European countries start earning serted, tharities

existing of

tariffe hek out that such can be ac-

Dr. Smutny said; "All along the The report said that Rumanian every dollar possible. against British goods.

Czechoslovak-German border a Communists and those in Hun- (4) Increased purchases by the complished in this direction.

huge No-Man's Land is being gary, Bulgaria and Albania are Forests are cut, watch inspired with hope that with the rented. towers with search-lights are aid of the Cominform they can erected, whole villages close on seize parts of Yugoslavia. the border are dismantled and re- placed by mine-flelds and barbed- wire fences. The possibility of diminishing day by day."-Reuter. escaping from Czechoslovakia is

TROOP MOVES IN RUMANIA

stable prices tency areas,

in the hard cur-

Investment

In

elsewhere,

4311

the United States or

|United States for the stockpiling |

cn

British Hopes

of commolities produced in the The British hope that at least $300,000,000 could be made avail- the United States for

British Plan

is

computed

re-

Albania Curfow

coun-

Mr. Hoffman, who has returned home after a fact-finding tour of seven key Marshall Plan tries said: "Progress has been made but the Economie Co-Ope- ration Administration is not yet satisfied.

"The dangerous inflationary "Borba" wald that a dusk to situation in many of the countries dawn curfew had been ordered a year ago has been checked," he In the Albanian villages near added. the Yugoslav frontier.

"The streets are patrolled and no one dares to leave his house",

newspaper added. "Some houses have

the

"Production

the throughout free nations of Europe has airea- raised to 115 per cent dy been compared with pre-war levels.

"Democratie government

An important part of Sie-Star- ford's task att Washington will be to indicate specifle ways in which Britain thinks America con help in solving the dollar- sterling unbalance.

Britain will urge a lowering of American

She Sterling areas, such as rubber ang ble by tariff barriers. will

international eros tin, propose modity igreement..

(5) Relaxation of United

purchasing stockpiling materials to provide Sterling Arcti darung States restrictions on the Use of in the sterling aren such as rub-

fber and tin In Malaya.

As r and natural rubber from such Ster-ards more Marshall plan dollars, products—such as rubber, cocul with

with a steady mi 4 di ling Area countries as Malnya.

the British

that Briain originally

her needs under the plan more She will also recommend an When the conference

dollar started extension of American large. the British delegation.

moderately than practically any Icale

other nation and that an increas Sterling Handed other ' delegates

of ECA dollars than Area countries.

lengthy report on reasons leaded amount

ibe Paris the reduced totol suggested by This, it is held, would provide (ing up to Britain's dollar short- the

Figaro, for Britain's Vienna correspondent today, re- DEEC is

"in a despatch from its a long term return for the Unit-

age: these i

duttor States by enabling

2. Submitted a complete set of

far gap The subject of countries to buy more from the statistics on this probleni;

devaluation Ported large scale Rumanian and

Soviel movements in Romania, arrested". discussed as mostly be dollar areas as their living ston-

The Yugoslav Government press | 3. Suggested that about six could possibly

toword the Yugoslav

the Romsa dords improve,

committees of two representa-

part of the agenda item calling frontler.

offee today said that a fire which explosions, rockad tives of each nation be formed as for talks on the idea of expansion

The newspaper said that Army broke out at the heavy all re- oil refinery In Fiume. the Sterling area. soon as possible in an effort to

Fire broke out while the local Heaves have been cancelled. Itnery in Fiume on Wednesday This agenda heading includes added: "The Russian troops pass was quickly extinguished.

firemen were dealing with a cull make rapid progress on the ex- perts wide-ranging agenda.

such sub-headings as the discus-through Jassy and Galatz night The refinery is working at full outside the town. The circums-

tances Ision of exchange rate, the policy and day. Big troop concentrations capacity today, it was added..

were said to indicate The British delegation_realises

(Reports from Trieste yester- sabotage) -Associated Press and viewpoint of the Congress of Britain in regard to the ex-are taking place slong the Yugo-

hopes that

day said that four simultaneous Reuter. pansion of exports to the dollar sin frontier."-United Press. steps can taken to help relieve the dollar area and also what is the effect shortage which do

do not necessitate of the present exchange rates on recourse to Congressional appro-

exports between the dollar aren Lewis Douglas, left Britain inval. The British hope that the land areas outside of it. the Queen Elizabeth today to United States Administration

ed

Britain is not expected to ask for loans.Router.

DOUGLAS LEAVES FOR U.S.

Southampton, August 27. The U.S. Ambassador, Mr.

the and

san

of

A State Department spokes take part in Anglo-S dellar Bad some way of re-interpreting man said the opening meeting. talks in Washington, starting article Nine of the British on the object of the meetings

oan discussed procedural matters and September 7. He

was necom- agreement which woukl result in panied by Mr. Henry E. Stebbing, 1s suspension as regards Western reach an

an agreement on what the First Secretary of the Embussy. Europe but which would not need

naure of the problem is.

Is. Ho sairi Mrs. Douglas will fly to Frunk-Congressional action

all delegates appeared

fully aware of the importance of the matters to be discussed.

furt an Monday to

to visit her sister, John J. McCloy, wife of the suspension would.

Mrs.

US. High Commissioner to Gor-

many. Miss

Sherman

as official

Open Licencos

Douglas It might be possible for the will join her mother there next United States to bring about week-end.-Associated Press.

Calro, August 27. Israel has been invited to send representatives to the regional committee meeting of the United Nations Food!

and Agriculture Organisation in Catro on October 13.-Reuter.

DODWELL MOTORS

FOR DODGE

temporary suspension on the grounds that article Nine dors

A usually reliable source said the State Department has ar sured tho British Foreign

Office that the Ides of the pos sibility of discussing some form

not apply to war damaged areas. of an economic union between

What?

starts with A?

· cuts down decay?

Amm-i-dent

THE AMMONIUM ION

TOOTH. PASTE

Paris, August 27.

"Le newspaper.

been de-

clared suspect and many Yugos- steadily strengthening itself."

minority members have been

rod news!

Good

AND FROM ENGLAND TOO

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Reuter.

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