Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-07-11
u. S. and British Dominions
Had Sought Inclusion of
All Monetary Topics.
COMMERCIAL DEBTS PUT
ON PROGRAM FOR ACTION
Disputed Questions Dropped by
Steering Committee Silver and
Central Banks Included.
By the Associated Press.

By the Associated Press.
LONDON, July 11.-After many days
of fierce controversy, the Steering Com
mittee of the World Economic Confer
ence late today rendered a decision
which the gold bloc privately declared
virtually kills the monetary agenda and
represents complete victory for the
gold group.
The committee, constituted Of leaders
OF the parley, adopted report calling
for the discussion of silver, commercial
Indebtedness, central banking co-opera-
ton and other subjects which can be
treated without dissension.
The American delegation supported
by the British Dominions and number
of smaller countries, had fought for the
inclusion of the full original program in
the revised agenda Of the congress.
In addition to the three topics ap-
proved, subcommittee were authorized
to decide for themselves what other
matters could be usefully considered
without provoking renewed discord.
GentIemen's Agreement.
ollSc lIlCS ale illus LII pOSlJlOIl
| where they can block discussion on any
subject considered undesirable, the gold
countries regarded the vote as a tri-
umph for their thesis. They have in
sisted that monetary questions in gen.
eral should be eliminated until the
dollar has been stabilized, and under
today's decision they will be able to see
that this view prevails.
Publicly this evening all conference
leaders were saying that business of
the parley was moving smoothly and
that work would be continued
1t was understood that gentlemen's
agreement had been reached whereby
the conference would be wound up soon
without any triumphant shouts by either
side
James NJ. Cox Of Ohio was a member
Of the Monetary Committee, which, he
said before the Steering Committee
met. had unanimously agreed on pro-
cedure for future program.
Smooth Progress Seen.
Prime Minister Bennett Of Canada,
who has vigorously supported the
American delegation in efforts to keep
the conference going, said at the end
OF the meeting, This agreement will
permit smooth progress"
Discussion might well be spread out
to include subjects other than those in
dictated, but points on which there are
sharp international differences will be
scrupulously avoided, the Canadian
premier said.
!, Agreements to be effective must be
unanimous. he added.
The Drafting Committee indicated in
its report which the Conference Bureau.
or Steering Committee. adopted, that
in addition to silver discussions might
continue upon resolutions already ap-
proved regarding central banking CO.
operation and the creation of central
banks in countries where they do not
now exist
In quarters close to the Drafting
Committee it was said that some mem
bers felt there was the possibility that
in the near future the American Gov
eminent might take steps to prevent
fluctuation of the dollar and thereby
open the way for discussion of further
monetary problems.
Still Waiting on U. S.
A delegate from one of the large
non-gold countries Of Europe which had
been supporting the United States pro-
gram for the conference, commenting
| on the bureau decision, said:
This obviously means that the con-
ference is marking time. OF course,
some decision must be made about
sterilization before the conference can
progress.
Naturally something must be done
about the dollar in due course and We
are confidently looking to Washington
for that, but in the meantime We can
do little here.
Il believe the conference will con-
tinue for a couple of weeks and then
recess until at least the end of Sep
TENDER. Certain big questions are not
ripe for plucking now and it will take
time to make them so.
las soon as America has done some
thing about sterilization the conference
| can reassemble with the prospect Of
achieving success"
Bonnet Appears Cheerful.
Finance Minister Georges Bonnet of
France, the leader of the gold bloc. who
was member of the Monetary Com
| mittee. was smiling after the meeting
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