Indianapolis Times, Indianapolis, Marion County, 24 October 1941 — Page 5

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British Treasury Expert and Americans Discuss World Trade.

| By HELEN KIRPATRICK f "Copyright, 1941, LONDON, Oct. 24.—The United States and Great Britain are now seeking a basis for postwar economic reconstruction. This is the principal concern of Sir Frederick Leith-Ross, head of the Economic Bureau set up by ‘the Allied Conference which held its second meeting n London Sept.

Sir Frederick, the British

lems of trade re- , pas u is Miss Kirkpatrick present job is the big conceivable. It will ‘be up to to direct the conversations which will lay plans for: the world’s = reconstruction after this war. He is now in Washington discussing these problems. Economists Claimed ‘ The British Government. has come slowly to realize the necessity for eliminating costly competition in industry and agriculture but it has only taken these steps as part of the war economy. The American plan proposed imposition of national export quotas, no import quotas and no regulation of internal prices. The United States also would eliminate bilateral clearing agreements returning instead to multilateral trade controlled by .export quotas. The implication of this plan, which has been accepted by the British as a basis for talks, seem to alarm British economists. They see Britain's post-war position ‘as mokt difficult with most of her foreign markets gone while her need for imported raw materials and foodstuffs will not be markedly ess. Secondary industries will have grown up in the dominions and the United States which will dimin- * {sh their needs for British manufacturies. National price control would mean low internal prices but high export prices making it impossbile for British industries to compete with foreign industries.

Piece-Meal Approach On the basis of the American plan, neither Britain nor any of the European countries would -be in ‘a position to bargain for markets in view of export quotas.

That is the situation today and, thgugh admittedly only the most tentative beginnings have been made, economists here feel that nefther Britain. nor‘ the United States is looking at the problem from its broadest - aspects. They see the approach as a piecemeal one which has characterized all trade relations in the past and which is still the Britsih Governmdnt’s approach to war economy. If ‘wartime powers were extended and planning attempted on a large scale, it would be possible, they feel, to make the fullest use of both nations’ individualistic -capitalistic production systems by eliminating the factors which hitherto have lead to great dislocations—surpluses in one part of the . world and shortages in another,

NORTH PAGIFIC BAN OK U. S. SHIPS SEEN

SHANGHAI, Oct. 24 (U. P.) —Autheritative sources suggested today that the United States Navy was keeping all American shipping out of the North Pacific. . The Navy was understood to have ordered cancellation of the scheduled call of the steamship President Taylor at Shanghai on Sunday and directed it to remain on the South Pagific run. was understood that no United States vessels would call at Shanghal until further orders, which some sources said were not expected unless there was a relaxation. of tension in the Pacific. yt This was believed here to be connected with Washington's announcement that no more supplies were being sent to Russia by way of Vladivostok, a route to-which Japan had objected.

PLANTS MAKE STARCH “FROM CULL POTATOES

COLUMBUS, O, Oct. 24—CarJogds of cull white potatoes, a former waste product of farms, will be’ fed into two new starch plants starting operation this month in Idaho, thereby adding about 20 tons of starch a day to the na's supplies and bringing $280,~ a year of new wealth to farm-

e plants, at Blackfoot and Falls, will use about 18,000 of cull pated | each Bn a year, paying a base price O. a ton plus a bonus, depending on market conditions, says the National Farm Chemurgic Council, here.

OREGON-CALIFORNIA-"TRANSFER ISN'T EASY

Ore., Oct. 24 (U, P.)—

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