Mr. Van Zeeland's mission to investigate the economic bases upon which a peace structure could be erected, commenced while he was Prime Minister of Belgium, is seemingly bearing fruit. He has declined to state to the Press at what conclusions he has arrived, though it seems to be fairly certain that his presence in London is in connection with a proposal for the conclusion of a currency pact embracing Great Britain, the United States, France, Germany ahd Italy. Naturally there will be much speculation as to exactly what form the proposed pact will assume, and until that is divulged one guess is just as good as another. The plan suggested by ihe "Evening Standard," while not fully explained, carries enough information to permit of some assessment of what may be Mr, Van Zeeland's intentions, Adopting the doctrine that economic causes lie at the root of much of the trouble in the world to-day, it is reported that he intends recommending that all trade and currency restrictions should be abolished by the countries concerned on a basis of reciprocity. If that could be done a big step would be taken towards the establishment of free trade which it is generally agreed is still one of the world's prime necessities. More intriguing still is the suggestion that the various exchange equalization funds of the different nations should be combined into one, to be used as a reserve for stabilization purpose for the benefit of the countries whose currencies might be affected by the return to unrestricted trade. Great Britain and the United States would be the biggest participators in such a fund, but it would seem that with the large amount of money so a' able for the purpose of controlling the vagaries of exchange a degree of stability would be brought about which should be conducive of nothing but good for the whole world, This it may be certain; the success of any such plan would induce other countries outside the scope of the present suggestion to come inside for the very apparent benefits to be derived from it, and if in the end it resulted in the breaking down of trade barriers nothing would prove a greater contribution to the lasting peace of the world,
Text read from the printed page and cleaned; old type leaves the occasional error.