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Show WORLD MEET PROGRAM TO AVOID DEBTS (Br UiIM rma GENEVA, Jan. 18 American mm-br mm-br o( expert eommlUM preparlnr the program for the world economic conference were reported today to have persuaded their eolleaiuea to leave the question of a war debt aet' tlement eut of the conference pro-fram. pro-fram. Abandonment of the contention that a debt settlement before the conference con-ference was necewary for the success of the'meetlnt m expected to permit per-mit the conference to convene In London Lon-don In May, earlier than had been expected. The monetary subcommitee has completed Its report and. according to reliable information, has left out the war debts. Washington has con-. con-. tended that debts must be considered separately with each debtor nation. Great Britain and France maintained that the economic conference would be useless with the debts problem hanunf over it, and sought to have the problem presented at London for general discuMion. The possibility was not excluded, however, that war debt negotiations might be carried on unofficially at London. As the next debt payment date is June 15, the United States might be able to use debt negotiations as a bargaining Instrument. The conference program was understood un-derstood to Include the following points: I. Monetary and credits policies. Including: al Conditions under which restoration resto-ration ot a free. International gold standard would be possible. (bl A currency policy to be fol-. fol-. lowed prior to auch restoration. c Functioning ot the gold stsnd-grd, stsnd-grd, which would be divided as fol-, fol-, lows: (1) The relation between political po-litical authorities and central banks: 2t monetary reserve; I J) cooperation coopera-tion between central banks on a credit policy: (41 the sliver problem. II. The subject ot prices, (a) disequilibrium dis-equilibrium between prices and costs. - and b measures for restoring equilibrium. equi-librium. III. Resumption of movements of capital, 4a abolition of foreign exchange ex-change restrictions, and b existing Indebtedness with regard to foreign short term debt and foreign long term credits. |