Evening star., 1933-06-14

could absorb the whole worlds surplus
of consumers goods, a third of the
worlds output of machinery and all of
last years output of ships.
Thomas A. lie Breton, chief of the
Argentine delegation, the next speaker,
discussed his nations trade problems,
particularly in connection with agri-
cultural products.
"EmbargoeS for unjustifled sanitary
reasons create confusion and unduly
discredit the producer" he said. CAR
gentine meat Is excluded from the
United States on the ground that there
is danger of hoof and mouth disease J
As the Argentine representative was
speaking Mr. Hull and Chancellor of
the Exchequer Chamberlain were in
close conference in corner of the
lobby outside the assembly hall. James
M. Cox of the American delegation
and Finance Minister Georges Bonnet
Of France had their heads together
in another isolated spot with jacques
Bizot, French treasury official, acting
as interpreter
Four More Accept Truce.
The adherence of four more nations
to President Roosevelt's traiff truce,
making total of 10 countries pledged
not to raise new trade barriers during
the period of the conference, was an
nounced by Prime Minister Macdonald
Of Great Britain at the opening of the
session today.
Macdonald, chairman of the confer
ence, appealed to the other countries
to join by Friday night at the latest, so
that the press of the world can record
the first achievement of the conference
to end the world economic warfare
The Netherlands, Finland, Denmark,
and Rumania have joined nations sub
scribing to the tariff armistice, the
prime minister announced.
The principal speaker of the morning
session was the British chancellor of
the exchequer, Neville Chamberlain,
who outlined his governments posi-
ton.
He, like many other speakers, de-
clared the settlement of the war debts
and reparations problems was essential
for world recovery
Chamberlain asserted that policy of
cheap and plentiful money must be an
nounced by the central banks and
vigorously pursued.
Credit made available, he added
must be actively employed. He called
for the immediate sterilization of cur
rencies.
Hits High Tariffs.
Among other important points in
Chamberlain's speech was the state
ment that there is no doubt the gold
standard is the most generally salts
factory.
Excessive tariffs, the chancellor
maintained, must be reduced and not
merely held at their present level
He described state subsidies to ship
ping as unfair competition and called
for their abolition by international
agreement.
He also condemned state subsidies
to export trade.
The American delegation followed
the speech with the closest attention,
especially that part in which Cham
berlain called for a lowering of ex-
ceSSive tariffs.
The battle over the Craftsmanship of
the vital Monetary Committee, which
the United States delegation is Wig
orously seeking for Mr. Cox. its vice
chairman, against the opposition Of
European bloc headed by France, was
continued this morning.
The Americans arrived at the con-
ference apprehensive of failure to get
this position, although Prime Minister
Macdonald was reported to have prom
ised it to Cox earlier in the week.
Secretary Hull, Premier Daladier of
France and Cox conferred privately
soon after the American group reached
conference headquarters. 1t was un-
derstood they discussed the chairman
ship, which the French contend should
be given a representative Of gold
standard country.
Despite the difficulties already en-