The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-06-19
FRENCH WANT TO QUIT
UNTIL DECISION COMES

, London, June l9-(Ho)-AdJOurnm
of the world economic conference un
til the question of Sterilization of cur
Irencies can be settled was advocated
Monday in the conference headquar-
ters lobby by the European gold bloc
It was understood the French were
fostering this program on the ground
that no progress was possible on other
lines until some form of sterilization
had been achieved.
The adjournment talk was entirely
unofficial but it was so persistent and
far-reaching that 1t was being pri-
vately discussed by the heads of the
important delegations in the gold bloc
group, which is headed by France. A
month to six weeks was mentioned as
the probable length of the adjourn
ment.
France and her adherents asserted
that everything rests with Washing
ton and that there is no use trying to
continue the conference until Presi
dent Roosevelt issues final instructions
to the American delegates.
This development came just as the
conference committees adjourned for
the day until IL o'clock Tuesday
morning.
At the same time it was reported
that negotiations were at standstill
and that nothing further could be ex-
pected from President Roosevelt I'M
til he had conferred with George l..
Harrison, governor of the federal re-
serve bank of New York, now en- route
home from London.
Coincident With this situation the
dollar had a fresh slump, reaching
$4.14A to the pound by mid-after-
noon. This took 1t entirely outside the
range which had been suggested for
controlled sterilization. This range
had been set by experts between $404
and s4.07 for purposes of discussion.
Deny Bank Agreement
Rumors that officials Of central
banks had reached a secret agree
ment to begin sterilization were en-
phatically denied by important Amer
lean financial experts.
It was explained that the central
bank chiefs have followed the situa
ton and have developed possible
technical procedure to be used if and
when a final agreement is reached
While sections OF the British Press
were printing sensational stories to
the effect that American delegates to
the conference were disowning the
work of their own experts, important
American delegation quarters empha-
tically denied there was a rift within
their ranks.
Submission of the American agenda
proposal for general 10 per cent re-
duction In tariffs was announced by
Chairman Hendryk Collin at Mon
day mornings meeting of the confer
ence economic commission.
This was done despite statement
Sunday night by Senator Key Pitt
man. American delegate, that the pro-
posal had not been acted on by the
American delegates and was not in
dorsed by them.
American delegation headquarters
explained the American 10 per cent
cut proposal was merely suggested
among others to provide basis for
discussion and was not intended to
appear as resolution being pushed
by the American group for adoption
by the conference.
British delegation quarters were not
paying much attention to the matter.
They indicated they regarded the in
cident to be chiefly the result of loose
handling which might develop in any
delegation in the confusion Of the
first week Of the parley: