Berlin, July 3.
A resolution on monetary policy, affirming the need to stabilize exchange on a basis of gold to obtain effective world economic. recovery, was adopted at the final plenary session to-day of the Congress of the International Chamber of Commerce.
The resolution to-day welcomed recent constructive development in monetary policy and, in particular, endorsed the general principles of the tripartite declaration, to which six governments are now adhering.
It also hoped no currency depreciation would be undertaken to obtain unreasonable competitive exchange advantage, thereby hampering efforts to restore more stable economic relations, The Chamber expressed the opinion that the present official and semiofficial impediments to foreign) lendings should be removed.
The rise in commodity prices in recent years, it stated, had helped a return to equilibrium, both internationally and within different countries, assisted by increased gold production.
The Chamber considered that fixity of exchange, international monetary ce-operation, solution of international debts of political origin, would fundamentally aid the progress restoration -of rational monetary order.
Political debts mentioned is understood to refer to loans under the Young and Dawes plans.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.