Evening star., 1933-07-28
OPTIMISM SHOWN
MIXTURE PARLEYS
Leaders at London Hopeful
of Definite Results at
Conference to Come.
IN the Associated Press.

success Of future international negotla-
tions was expressed in several quarters
today as remaining delegates to the
World Economic Conference packed up
10 go home.
President Roosevelt'S message to the
flnal meeting yesterday pledging Amer
ica's continued efforts for world re-
eovery sounded keynote OF optimism
that was re-echoed in statements by
conference leaders and in newspaper
editorials.
The Times said the parley succeeded
in doing a good deal Of spade WORK
necessary to enable the next conference
to accomplish something more definite
and the Herald asserted the failure OF
the World Economic Conference is the
strongest proof of the need Tor more
conferences"
In Hands of Small Group.
A small executive committee Will de-
termine when the assembly is to be re-
convened. This body. it Is belleVed,
will meet in September.
Prime Minister Macdonald, confer
ence chairman, made 1t plain that the
recess was not an ADJOURNMENT ana
that work would go forward IN the
interim preparatory to the next plenary
assembly.
Secretary of State Cordell Hull main
tanned that I'VE cannot falter; we Will
not quit; we have begun and We Will
20 on" He urged the nations to be-
gin programs for raising prices, IN
Creasing employment, and improving
business.
Hull and other Americans were to
sail on the President Harding from
Southampton. and other delegates still
here were making arrangements TO re-
turn home.
An agreement by silver holding and
producing countries designed to i'm
prove the silver market was the most
tangible result of the six weeks gath
ering, and negotiations for a wheat
restriction pact progressed to the point
where a final accord is hoped for from
a RESUMPTION of the deliberations here
August 81.
Longer Time Needed.
Otherwise, while some speakers at
yesterdays plenary session expressed
disappointment, many agreed with
Roosevelt that results can come equally
from a free presentation OF each ma
tions difficulties
Said Macdonald: we adjourn. not
because we are defeated. =" but be-
cause longer time is needed to at
tain results"
In this connection the Times de-
clared it would be useless to reconvene
before the results OF the great ex-
pertinent now being made In America
became sufficiently clear to enable
President Roosevelt to adopt dehnNe
policy regarding the exchange value
OF the dollar.
The Post. on the other hand. SAID
"the conference expired unwept and
,1nlamented." but admitted that the
ground had been charted and prob
iems identified.
So. too. argued the News-Chronicle,
which added that the conference com
pelled everybody to recognize how dill
fieult the troubles are to solve.
president Roosevelt has set the
example" the Herald said in urging
the British government to do the Ut
most to achieve national recovery.
to the British as to the American
problem"
Other Parley Results.
Another tangible result was tne
economic non-aggression pacS Russia
effected with her neighbors. In this
category are the reported negotiations
of other countries, including the United
States. looking to consummation OF ol-
lateral trade agreements.
On this latter point the conference
stumbled France maintained from
the outset that there was no value IN
taking about removing trade barriers
or any subject until the problem OF
currency stabilization was solved:
question the United States refused 10
consider.
Prom the time the League OF Nations
Preparatory Committee drew up tns
prugram and President Roosevelt he!o
White House conferences with world
statesmen to the closing plenary session
YESTERDAY most of the discussions re.
VOWED about currency StabiliZatlon ana
tariffs. The matter OF ADJOURNMENT
was considered almost from the start.
Other topics brought up include sugar
restriction plans, import quotas. "orlo
credit pool plan. price increases. none
tary standards, central bank plan ana
q. timber trade scheme.
The British Empire emerged from
the conference with an agreement III
which the dominions and the motner
country declared for stability OF nVef-
empire exchange rates
Dominions Sign Pact.
This was made known In declara-
ton by Empire delegates to the con,
ference in which it was emphasized
that the United Kingdom is not com
mitted to any policy OF keeping tne
pound sterling at any f1xed ratlo W
the currency of another nation.
The declaration was signed by the
United Kingdom. Canada. Australia.
New Zealand, South Africa and india.
The Irish Free State did not sign, put
the Dublin representative referred tne
matter to his government.
The Empire delegates called for ultl-
mate restoration of an international
gold standard. The problem racing
gold. they held. is to reconcile stapliity
In exchange rates with reaSonaplt
measure of stability in world prices. ana
not merely in the price level OF a par
ticular country.
1.-The Empire delegations recognize
the Importance of the stability OF inter-
empire exchanges rates in the interests
of trade" the declaration said. Inns
is facilitated by the fact that the Unlteo
Kingdom has no commitment WIN
other countries in regard to the future
MANAGEMENT of sterling and retains
complete freedom of action In this re-
Snecf The adherence of other coun-
tries to a similar policy would make q
wider exchange Of stability possible.
The Empire delegates declared for an
increase in the level of wholesale prices
And for the lowering OF inter-empire
trade barriers.
They provide for continuing unified
monetary policy by the members OF tne
emnire by recommending that their
governments consult periodically to that