World Economic Conference
This week's discussions among the experts at Geneva whose task. it is to prepare the ground for the World Economic Conference show how . vast is the field to he explored before the Conference can profitably be held. Sir Frederick Leith-Ross, the British expert, made. it clear that in the view of this country certain questions must be in course of settlement before the Conference meets. Those who wish us to link our currency definitely to gold must understand that we cannot do so unless and until certain conditions have been satisfied. Amongst these Sir Frederick enumerated an agreement about War Debts, a scaling down of trade restrictions, and a reform of the monetary system. There can be no question of our return to the gold standard without the assurance that it will be properly managed in accordance with a policy which will secure the recovery and stabilisation of whole- sale prices. These are questions which will involve delicate negotiations and far-reaching discussions. It is beyond possibility that they should have been explored by next April, and even June may be too early. War Debts, which may be the key question, will almost certainly have to stand over altogether till Mr. Roosevelt is in office. To call the Conference before the ground has been fully prepared would doom it to certain failure.
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