New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-02
Dernburg Makes Speech
Not on Political ACad-
envy Programme.
CORREA PROMISES
PAN-AMERICAN UNION
Says Southern Republics Will
Support U. S. if 1t Ever
Has European War.

sion OF the American Academy OF 70
litical and Social Science against
declaration at last nights meeting that
Germany had denied the right of the
United States to sell arms to belligor-
cnts
Dr. Dernburg was not on the pro
gramme. but he made a brief speech.
in which he said the declaration was
absolutely false" lie explained that
Germany had complained only Of in
equality OF treatment" in that food
stufs are shut out Of Germany,
whereas there is a free transit Of arms
to Great Britain. lie said he favored
any scheme whereby nations would be
compelled to arbitrate before going to
war.
The republics Of Central and South
America would fight shoulder to shout
der to resist European aggression IN
case the United States became involved
in a European war, Senior LUIS r.
Corea. former Minister of Nicaragua
to the United States, declared in his
address earlier in the day. JOIN Hays
Hammond rather startled the audience
by a suggestion that the Monroe Doc
trne he restricted TO apply only to
such territory as may be necessary to
the defence of the Panama Canal and
the sphere Of influence Of the United
States in the Caribbean Sea.
Wants L. S. in Conference.
That it is the duty as well as the
It Il +,4n IN no
don its traditional policy of isolation
and take an active part in the peace
conference following the European war
was the view expressed by Oscar s.
Straus, ex-American Ambassador TO
Turkey.
Since Washington's admonitlon
against mingling in European affairs,
Mr. Straus said, conditions have com
pletely changed. The United States Is
too large and its commerce has become
TOO important to continue this policy
Of aloofness. In the event Of conted-
Grafton Of the leading nations, evolved
from this war, he declared that this
country must share its responsibility
in this world-state.
"Our country has as deep concern,
not only morally, but economically and
industrially, in the peace of the world
as any one of the larger nations" he
said. "A war such as this affects the
neutral nations only TO lesser degree
than the nations actually at war. And,
therefore, have We not the right and
is il not our duty to cooperate 10 the
fullest of our power in the perfection
and the maintenance Of plan for the
preservation of peace?"
DR.. Talcott Williams, director Of the
" - Il Il
that constructive peace could only
come when international cousts are
stronger than international causes of
war. The largest service America can
do. he added, is TO put the sheriff be-
hind the courts Of arbitration.
Nations TO Unite in Posse.
Last July. when Serbia offered ar
bitratiOn and the neutrality of Bel
GUM was in peril" he said, had all
the neutral powers outside those now
at war. led by America, with America
led by the United States, insisted on
arbitration as a posse commitatus of
humanity, arbitration would have come
and war would not have come. The
machinery was not ready. 1t should
be prepared when peace comes. No ma
ton is strong enough TO fight all the
world. even if il may be ready to risk
war with half the world. Humanity IS
still stronger than any one nation.
"Unless America, led by the United
States, in due time secures and organ
ICES q force behind courts of arbitra-
ton able and willing to insist on all
issues likely TO lead to war being ad-
Indicated, out Of the burrows OF this
great war no harvest Of the peace OF
humanity can come. Either we must
create an international force strong
enough to keep the worlds peace or
we must arm to defend ourselves to
keep our peace in a world of war;
Wilson TO Preside.
The manner in which America could
best contribute to the maintenance OF
world peace was outlined by G. Loves
Dickinson, of Kings College, Cam
bridge, as follows:
Peace to be established through the
intervention Of President Wilson.
The convention of congress at
which all European states, belligerents
and neutrals alike, should be repre-
sented; such congress 10 be presided
over By President Wilson.
Substitution Of the former system
of alliances among European powers,
with an international guarantee of
peace. backed by force II necessary.
Morris Hillquit. Socialist leader.
sketched a plan for ending the war, a
plan (which would come with such
commanding moral force that it could
not be ignored by the belligerent pow
ers." lie proposed that all the ma
tions at peace, under the leadership Of
America, join in a definite and urgent
offer of mediation, the neutral nations
TO act as an international concert OF
powers and TO pursue their object un-
ill peace were finally established"
In contrast TO Secretary Redfeld's
optimistic utterances yesterday on the
brilliant prospect the war holds out TO
the United States, Thomas Conway, lr.,
professor Of finance at the University
Of Pennsylvania; and Alexander J.
Hemphill, president of the Guaranty
Trust Company. Of New York, warned
against the possibility OF a financial
collapse al the afternoon session.
Bankers Must BE Cautious.
The financial menace, said Professor
Conway, is the greatest danger con-
fronting the United States as a result
Of the war.
"The moral in this situation for
American bankers is plain" he de-
cihFeu. We mus OS constantly pre-
pared for whatever may transpire.
Bankers must discourage unwise speeu-
lative activity on our stock and pro-
duce exchanges. They must keep an
unusually large surplus cash reserve,
so that the disturbing influence Of any
foreign crisis can be negatived by
prompt and courageous action in eX-
tending accommodations to our mer-
chants and business interests and in /
supporting within reasonable limits the /
values Of our standard securities, I.
which would alike be injuriously af- .