The Washington herald., 1919-04-06

reconstruction. The American nem-
bers OF these permanent boards fol-
low: Economic Council. Bernard Ba-
ruch and Thomas w. Lamont; FL
nance. Albert Shanes and Norman
Davis.
They will have largely only ad-
visory powers. But their advisory
power win probably be as great as
though they were In absolute con-
troll. Because these powers viii be
based upon expert reports after
careful Investigations, and 70 yio-
late the recommendation Of these
boards would bring down the i'll
will, of the world upon the nation
which violated any ruling. And
after all the good will of the world
is the cement OF the league OF
nations. rather than guns and gas
and blood and iron. For II the
league of nations would live by the
sword, surely IL will die by the
sword. Its only hope is economic
international Justice.
And the world is so full Of economic
Injustice entirely international In
its character that the economic and
financial boards always will be
busy. They will develop into the
permanent international legislature
which must adjust inevitable diff
ferences between nations which
arise in growing civilization. and
these differences will be more and
more economic; less and less poltti-
cal The scope given to these boards
officially is found in the third of
President Wilson's fourteen points
thus.
The removal so far as is possible
of all economic barriers and the
establishment on an equality OF
trade conditions among the nations
consenting to the peace and asso-
ciating themselves for its main
tenance.
! That third point was the plank
OF the platform which the drafting
board went to work on when Il or
ganized the permanent financial and
economic boards under the league
Of nations. Now that plank does
not mean free trade among the
members OF the league of nations.
But IL means that there shall be
no discrimination as to trade re-
lations between the members Of the
league, which are not known, not
commonly agreed to and not based
upon commonly accepted justice.
Thus: II England should have a
transcontinental rate across Amer
ica for the trade of England and
India, Japan and China should
have the same rate. Again: Last
December the Food Commission in
the United States agreed to an es-
tabIished price Of $3.50 for hogs.
Upon the basis Of that agreement,
hundreds of thousands Of Ameri-
can farmers increased their hold
inEs of hogs, borrowed money for
feed. or diverted money to hog feed
which naturally would have gone
elsewhere.
Suddenly a few weeks after the
price in America had been establish
ed. England and Italy thought they
could not use the amount OF pork
and pork products which these ma
tions had been using monthly and
upon which as a dependable demand
/, for tho market year the price had
been established by the American
Food Commission. There was a cri-
sis II England and Italy had held
to their first decision, it would have
spelled ruin to millions OF American
farmers. their dependent merchants
and bankers all through the West
and South in the hog growing coun-
try. The situation was explained TO the
British and the Italians; they realized
that the pork shortage OF the world
would absorb the slight deficit be
tween what England and Italy could
use and what these countries had or
dcred, so they continued the order for
American pork at the price estab-
lished. No law was required: no
constitutional change in any country
was needed. But lacking good will,
grave financial panic and an in
ternational crisis might have arisen.