The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-07-11
GOLD BLOC CLAIMS
VICTORY IN MONEY
BATTLE AT LONDON
Charges Decision Of Steering
Committee Virtually Kills
Monetary Agenda

London, July 11.-(P)-After many
days OF fierce controversy, the steer
ing committee Of the world economic
conference late Tuesday rendered q
decision which the gold bloc private
ly declared virtually kills the none
tary agenda and represents a COM
plete victory for the gold group.
The committee, constituted OF
leaders Of the parley, adopted a re-
port calling for the discussion OF sill
yer, commercial indebtedness, central
banking cooperation, and other SUBJ
jects which can be treated without
dissension.
The American delegation, support
ed by the British dominions and q
number Of smaller countries, had
fought for the inclusion of the full
original program in the revised agen-
da of the congress.
Would Avoid Discord
In addition to the three topics ap-
proved, subcommittee were author
lied to decide for themselves what
other matters could be usefully con-
sidered without provoking renewed
discord.
Previously James NJ. Cox of
Ohio, chairman of the world econ
omic conference monetary COM
mission, had said the agenda
drafting committee OF his group had
agreed on procedure.
The steering committee adopted
the report.
This MEANS" Cox declared, that
two committees of the monetary COM
mission will go to work."
Cox also is chairman of the agen-
da drafting committee, which is COM
posed equally of representatives from
gold standard and non-gold coun-
tries.
Finance Minister George Bonnet Of
France, the leader of the gold bloc
who was member of the committee,
was smiling after the meeting, and
talked jokingly with French news
papermen.
The drafting committee met In an
attempt to reconcile differences in
as to what should be re-
tanned In the conference agenda.
The gold bloc insisted on the exclu-
sion Of nearly all monetary questions.
While the monetary drafting COM
mittee was meeting, Secretary OF
State Cordell Hull was busy CONVEX
sing with various conference leaders.
Later Hull, chief Of the American
delegation, said I'VE are making real
progress today" He expressed the
opinion the atmosphere was changed
since last week, when gold
bloc representatives demanded ad-
journment on the grounds progress
without currency sterilization was
Soviet Russia Speaks
Soviet Russia, IN a proposal sub
mitted to the monetary commission,
reminded the parley one of its main
objects Is to increase imports, and
asked the nations to come forward
with offers to buy goods rather than
tariffs to shut out goods.
The Russian proposal stated there
was possibility Of increasing sales
In Russia under certain conditions.
~ dloO dSASO lOE COIlSlQCIdClOl u
the Soviet's suggested pact for eco
nomic non-aggression before ad-
journment should take place.
Senator Pittman OF Nevada pressed
with the work Of his sub
on controlling the world
market for silver.
An agreement with India on re-
stricting sales OF silver, it was said in
an authoritative quarter, is near
although details still are
to be worked out.
With success in sight on this plan
for stabilizing the price of the white
metal, the Nevada senator was hope
full of reaching an agreement also
for maintaining the fineness of silver
coinage and for preventing the
dumping Of silver on the world mar
ket through sdebasement of coinage.
This would clear the way for action
on part OF the Pittnan resolution
calling for the optional use BY central
banks o. ore fifth Of silver n none
tAE reserves.