Evening star., 1933-06-19

new StabiliZation suggestions.
James P Warburg, American ADVISER
told the French the next move was
up to Washington"
Committees Organized.
It was reported the first suggestion
contained a French offer to help flnan-
cially in maintaining the dollar. pount
| and franc near the present level fol
six weeks, but stipulated that President
Roosevelt must agree not to use nf1a-
ton powers, contending 1t would bt
difficult to hold the dollar steady inter
nationally If he did.
Refreshed from a week end OF recre-
alton, delegates, advisers and expert.
plunged into mass Of work.
The Monetary Commission. under
the Craftsmanship Of James M. Cox. for
mer Governor of Ohio. got into action.
It's first business was to agree tina,
the commission be divided into two
slider temporary monetary measures anC
the other permanent measures.
1t had been expected that there might
be some difficulty in choosing the chair
men of these committees, as severa
7 candidates had been put forward for the
positions.
Without much ado, however Finance
Minister Guido Jung Of Italy was desig.
mated head Of the Committee on I'M
| mediate and Temporary Measures anc
DR.. Victor Kienboeck, president Of The
National Bank Of Austria, was namec
chairman Of the other group.
1t was agreed that Signor Jung anc
Herr Kienboeck would meet later today
with Mr. Cox and NJ. Bonnet to select
| the memberships of the two commit
| tees.
| Premier Collin informed his commits
sion that some delegations wanted tC
start with the second topic on its pro-
gram, "Co-ordination Of Production ane
Marketing" rather than the first, Com.
mercial Policy"
Sarraut Takes Floor.
| It was understood the French dele.
| gates particularly wanted this change
| being especially interested in the Seconc
subject.
Sarraut then took the floor and urged
| control of production and markets
Henry Chalmers, an American tariff
expert. and Neville Chamberlain, British
chancellor OF the exchequer, were amoni
! the interested listeners.
| His statement, said Sarraut, wa.
made lin the spirit Of solidarity"
The depression affects France seri
| ollsly. he asserted, and hinted that tha
republic might have to turn back u
| itself and its colonies should othel
! measures fail.
The anarchy Of production" he de-
clared, was considered by the French
, to be the real source Of the "distresse!
OF the world"
An Italian spokesman said his coun
try proposed to apply a liberal quots
policy but could do so only in respec
TO countries which also apply prope
policies, both as to customs and ex
change StabiliZation.
Foreign Minister Paul Hymans o
Belgium declared the abolition o
quotas and restrictions to be the mos
urgent need OF the moment" If norma
conditions are to be restored. He sait
that systematic action should be takel
essential steps.
We do not exclude the poSSibilit,
Of producers agreements" the Belgian
representative said.
Mr. Collin, closing the morning ses
sion, said he hoped tomorrow to appoin
one or two subcommittee to draf
concrete proposals developed from TO
days discussion, thus completing tn
initial work on commercial policy"
| Ine commission CHAIRMAN also SAT-
that he hoped to take up "co-ordina
ton of production and marketing" a
urged by the French for general dis
, cuSSion tomorrow.
Just before the conference reopene'
. for the afternoon session, there was
meeting attended by the self-Style,
agrarian states-CZechoslovak Yugo
: Slayia, Rumania, Hungary and Bull
: garia.
t These countries Of the Danubian bio
met 10 pool their proposals TO plac
] before the economic commission.
t was understood their deliberations ha
S special reference to the restriction c
g agricultural output and were connecte
G indirectly with the wheat conferenC
] meetings which have been proceedin
among the great wheat producers. tn
{ United States. Canada. Australia an
= Argentina
= When the Economic Commission re
h sumed in the afternoon, Orestes Fei
: rara, head Of the Cuban delegation
q said the commission must not los
p sight Of reduction in tariffs.