The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-07-10
CLOSING DATE FOR
ECONOMIC FARLEY
IS SET FOR JULY Is.
Committee Decides to Eliminate
Subsidies and CONNER.
ciaI Policies
STILL BATTLE OVER MONEY
Pittman Expects Subcommittee
to Report FavorabIy on
Silver Proposal

London. July 10.-(R)-The wind
ing up Of the present phase Of the
world economic conference on July 2e
was tentatively decided upon Monday
by the steering committee OF the par
ley, 1t was understood In q usually
well-informed source.
The conference has been in q dead
lock for more than q week over the
question Of currency sterilization and
many leading delegates have frankly
asserted that its continuance under
present circumstances would be USE
less. .
The American delegation, however
has been fighting strenuously to keep
the conclave at work.
Meeting Monday to decide what
subjects should be included In the re-
vised agenda for the congress, the
steering committee decided to elm
mate the discussion of subsidies and
commercial policies-including tariffs
and quotas.
The committee, however, was un-
able to decide whether monetary ques-
lions, which the European gold coun-
tries say cannot be dealt with until
sterilization is realized, should be
treated and asked a drafting commit
tee to consider this controversial mat
ter and report to the steering group
Tuesday afternoon.
After Mondays meeting It was stat
ed the conference would be adjourn
ed on July Is for an indefinite period
perhaps two months.
Would Do Other Work
In the meantime the conference
would complete such work as is pos
sible In view Of the disagreement be-
tween the gold bloc and the non-gold
countries. Committees would be ap-
pointed to prepare resumption OF the
deliberations in the autumn.
It was understood the steering COM
mittee feels sufficient work can be
found to keep the conference going
another Is days at least.
It had been expected that there
would be hot fight in the commit
tee which guides the course of the
conclave over the question of contin-
ued discussion Of monetary matters
a battle between the United States
and her followers who wish to deal
with virtually the full original agenda
and the gold countries headed by
France who demand elimination Of
monetary subjects.
The conflict did not develop. how
ever, because the monetary commits
sion thus far has been unable to agree
on what agenda it should recommend.
This commission again will try to
reach a recommendation and report it
to the steering committee Tuesday.
Pittman Is Confident
Senator Key Pittman of Nevada said
Monday he expected the world eco
nomic conference subcommittee which
has been studying his resolution for
the rehabilitation Of silver would re-
port favorably by Tuesday or We'd
nesday.
AS introduced, the silver resolution
contained proposal that monetary
cover for currency issues be reduced
from 40 per cent, as in the United
States, to a lower figure, perhaps Is
per cent, and another that banks
would have the option Of keeping one
fifth Of this monetary reserve in sill
YER.
Governments, under the measure,
would cease debasement OF silver coin
age and would restore its fineness.
The commission finally agreed
unanimously to recommend to the
conference steering committee that
silver be retained on the agenda.