Evening star., 1932-08-14
SEAWAY EXPLORED
!. BY OTTAWA GROUP
ParIey Delegates Inspect In
ternationaI Section of St.
Lawrence Project.
BY the Associated Press.

BY the Associated Press.
OTTAWA, August 13-Delegates to
the Imperial Conference took a day Of
today to inspect the international sec
ton of the st. Lawrence River which,
under development by the United States,
would be part Of the water highway
which would make the Great Lakes the
Mediterranean of North America.
They went by boat from Kingston to
Prescott, following to the head Of the
troublesome rapids area in the exact
channel which vessels Of the seven
seas will ply when Milwaukee, Duluth
and Port William become ocean ports
1000 miles from salt water.
Problems on Mind.
They were not entirely free from con-
ference problems, however. With the
broader conception Of the report by the
Monetary Committee in their minds,
some OF the delegates suggested that
while assuring the world that the Brit
ish Empire would not attempt to peg
its currency to gold, sterling or silver
in advance of the projected interna-
tlonal monetary conference, the empire
does seek definitely to stabilize the
British pound for Canadian customs
purposes.
The British have made it plain all
along that, regardless of whether the
conference produces preference for
preference in trade. there must be
some plan to guarantee the British
shipper against the effect of exchange
fluctuations on the amount of duty his
goods will pay at the Canadian port of
entry.
Considered a rather negative whole,
the report was inferentially positive on
| the area of stability among countries
regulating their currencies in relation
| to sterling. This fact alone, it was sug-
geSted, inferred that progress had been
made toward protection of Canadian
industry from currency fluctuations
| abroad without regular fortnightly fix
| ing of the pound sterling for duty pur-
poses.
Unit Of Exchange.
Some were inclined to believe unity
of exchange would make for as great
intra-empire trade as would tariff ad-
! justmentS, insofar as it was able to
overcome variations in invoice values.
The possibility of its diverting trade
into empire channels which would have
the benefit of currency StabiliZation as
between nations of the commonwealth
/ led to discussion of probable reaction
| by the rest of the world.
Unoficially there was seen in the
plan some point of vantage for the
British in the event of the international
monetary parley, which among other
things would consider Standardization OF
values between the various moneys OF
the world.
May Borrow In London.
How empire area Of stability might
affect international money markets was
believed to be involved. 1t was pointed
out that Canada is barred from the
New York market because the value OF
her dollar is now so much lower than
| that of the American dollar. Govern
ment and other loans have been raised
as far as possible among Canadians.
With currency stabilized within the
empire, it was said, most of the present
| domestic financing might be done ir
| London, and with any increase ip Brit
| ish capital in Canada, and with the
| dominion watching the London ex-
change rather than New York. there
would be a stronger link for British
Canadian trade.