The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-08

Esecidl Gable to THE NEW York HERALD.
Copyright, 1920, by THE New York HnnAIp.
New York Herald Bureau,
Paris, Nov. Z.
On the eve of his departure from
France. A. C. Bedford, chairman of the
board of directors of the Standard OIL
Company OF New Jersey, in an interview
with THE NEW York HERALD correspond
emit. reviewed conditions as he found
them here and commented on the rela-
tionship of American and French busi-
ness interests, as emphasized in the re-
cent creation of the Standard Franco
American Oil Company. Mr.. Bedford
said:
''Our alliance with French financial
interests which has occurred during my
stay here is in conformity with views
regarding the extension of American
trade abroad which were expressed at
the International Trade Conference at
Atlantic City last year. 1t is that one
of the best methods whereby future
financial cooperation between the United
States and Europe can be realized is by
the investment OF American capital in
European enterprises just as Europe for
merly invested capital in our enterprises
visit here that the sure road to complete
international cooperation is full reel
proctty in this particular.
"By virtue of its geographical position
and until new oil fields are discovered
which give those controlling them over
whelming trade advantage, France, If
she maintains an open market, always
will be competitive territory in the oil
industry. This is because of Frances
tfrta TN, % 1l1at,
producing centres.
''The regulations resorted to during
the war for the control of petrol products
imported into France are still in effect
and the results are such as not only
make oil more expensive than 1t needs
TO be. but perpetuate the cumbersome,
uneconomical methods of distribution
now in use. We have, however, hopes
that these restrictions will be removed
and have Joined with the interests repre-
scented by the Banque de Paris ct Pays
Bias In an organization to develop the
French petroleum industry.
TT seems to me that the tendency OF
thought In France is toward the same
conclusions that are expressed by Sena-
tor Harding-that there has been too
much government In business, and that
If we are to make real progress toward
reconstruction the policies that harass
abandoned.
France has lot of war problems
unsolved, but no one who has talked
to her statesmen and has come in close
contact with her people, as ] have. can
feel anything but confidence in the out
come The French peasant of the dew
astated regions approached the task of
restoration almost with fanatical energy.
Men and women young and old, work
In the fields and villages from sunrise
to twilight, and it is almost unbelieva-
BILE what they have accomplished. In
other districts the peasants are actually
better off than before the war. and are
furnishing good support to the current
international loan, which promises to be
a great success.
The French people think their atti
tude toward Germany and on other
world questions is not understood else
where, and 1 think they are right. See
ing their devastated country and their
efforts to restore productivity is a great
education for the student of existing in
ternational relations. We believe in
France. and we hope to be pioneers in
the movement of new capital from
America into French industries"
Mr.. Bedford leaves tomorrow night
for a ten days tour of Belgium and
Holland and then to England. whence he
sails on November IT for home. Before
leaving Paris he is to be the guest of
the Interallied Club. which is composed
of the leading governmental, Industrial
and commercial officials of the French
capital and is expected to make an adj
dress outlining his views on the neces-
sity of France maintaining an open door
policy toward American capital.