| Show LONDON PARLEY MARKING MARKINO TIME Waits D Definite finite Word on Washington's Washington's Washington's Wash Wash- ington's Attitude Upon Stabilization Br Dr Freis LONDON June 16 An 16 An agreement for Cor stabilization of the dollar and the pound W was U fairly complete tonight save for the thc decision as to where the I control will start star it was said in Amen Ameri I Ican can quarters By DEWITT 1 Associated Press Staff Writer LONDON June 16 The 16 The wt world economic economic eco conference after alter important meetings of its monetary and economic cco- cco commissions today decided vir- vir to mark time on ori the major problems over the week end pending definite word regarding Washington's Washing Washing- tons ton's attitude toward currency sta sin The gold standard countries It was saId aid in French quarters do not intend to o budge until approval of at a stabilization tIon ton project has been received from the he American administration French delegates an and their follow follow- ers rs expressed keen disappointment over Secretary Woodin's announce announcement announcement ment in Washington that the United St St. States Slates it s government had not agreed to tomy any my currency stabilization prop proposals which are arc understood to have been consIdered by French American and British financial leaders The French indicated d' d they had thought bought the stabilization question had een settled when they conceded the chairmanship airmanship of the monetary commission com corn mission to James M. M Cox second in command of the United States group It t had been reported that plans were afoot foot to stabilize the American dollart dollar at t between to 4 07 to the British pound In a formal statement given out in Washington last night and received here ere this morning the American secretary sec sec- of at the treasury said that the discussions In London regarding sta sin must be exploratory only and nd any any agreement on this subject will vill be reached in Washington not elsewhere In the thc meantime British French nd md American bankers are meeting Continued on PAle Page Three Y V LONDON PAR PARLEY EY MARKING TIME lIME Continued from fare ale face One Ont In London to study the problem and it was reliably st stated t c tUtt that they are arc expected d to reach a decision n In t two o or three daY days With With the conference facing this fresh Impasse the American delegates delegates dele dele- gates were standing pat on their In formal denial that an agreement ha had I been reached on stabilization and I were were awaiting instructions from Iron I Washington From British official so sources today there also came caine a denial that an agreement agreement agree agree- ment had been reached for tor tion of the dollar round dollar The American delegation r rec received ived f further urther appointments to the t tant ant commissions this morning PUT ON COMMISSION Senator Key Pittman of ot Nevada and Senator James Co Couzens zens of f Michigan were named the on monetary com mission with Mr Cox Ralph W. W Mor Mor- r rison isen of Texas and Representative Sam D. D of ot Tennessee were app appointed to the C e economic o ori ml C com com- m mission Secretary of ot State Hull did not desire a a place either on a. a vat aval at be is isoa oa a sm member of the steer stee lag Ing committee and he heddes does not exp expect ct to stay in London throughout the conference t Conference Unanimously Agrees on 5 Points LONDON June June 18 16 The Th JP-Th ff The world economic conference began its serious labors today with unanimous agreement agreement agreement agree agree- ment on five points and disagreement on eight others Apparent accord has been Indicated by an analysis of ot speeches on 1 That stabilization of currencies Is i necessary 2 Trade barriers tariffs barriers tariffs quotas exchange restrictions restrictions must must be lowered low ered 3 Monetary and economic reme dI dies for lor the crisis are interwoven 4 The gold standard is the best 5 The world is is' at a a crossroads Points of ot apparent disagreement 1 I. When stabilization should take place some place some said immediately others at an indefinite time 2 Raising wholesale price levels 3 Public works programs 4 Restriction of ot production such as the th-e wheat crop acreage 5 Creat Creation n of an international credit institution 6 of f silver 7 The use of Orthodox economic methods for the uplift of the W world or more more audacious inflationary s schemes chemes 8 Whether Intergovernmental debts not debts not on th the conference agenda must be settled before the conference confer confer- ence once can work effectively The conference e set out today to f find hid s solutions for the differences |
