Progress at Geneva On Monday, the European Tariffs Conference closed
with the signature of three documents; A 54 Com- mercial Convention " (valid for a year in the first instance) which embodies the idea of the- interdependence of-Euro- pean commercial policies was signed by eleven States; including all the great Powers. A Protocol, holding the door open to further negotiations for freer trade, was signed by fifteen States. This provides for further " loyal co-operation " in guiding tariffs downwards by collective action. It also develops a stage further the labours of the Economic Committee of the League with regard to Customs nomenclature, export bounties, and certain indirect forms of Protection. The Convention is open until April 15th for further signatures. In this way—thanks mainly to Mr. Graham's smiling - deter- mination—the French and Italian obstacles have been evaded, and the immediate aim of " stabilizing " current schedules for a while, so as to have solid ground' on which to deploy collective efforts for a further advance, has been achieved.
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