The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1920-01-21
Financial NeuDs---.Stock Market Prices
LEAGUE
TOHELP EUROPE
-
Dawson Plan Needs Only
Moral Support. Says
Holland.

shortly after the return from Eu-
rope of Henry p. Dawson in the mid
spring of last year he was reported
to have suggested that an underwrit-
ing organization. whose members
represented industry of every kind
In the United States as well as COM
merce. banking, agriculture. be organ
lied for the purpose Of financing Eu-
ropean nations and that the govern
moral support. The Administration
however. did not feel JUSTIFIED in act
ing upon the proposition.
Now IL appears that the Dawson
plan was not abandoned. but was
only sleeping, awaiting the favor
able moment for action. That mo-
ment has come and this fact is made
clear by the published report that
an International movement is under
way which includes a world wide
conference to solve the great eco
nomic problems representing many
billions. The proposition appears
to be an expansion of the Dawson
plan although Fundamentally IT Is
OF like character. 1t involves much
more than a nationwide UNDER
writing syndicate. The fact that
men of the ability and experience
of Thomas W. Lamont. Paul War
berg, Elihu Root. A. Barton Hep
burn. ]. p. Morgan are associated
with this plan as well as other
Americans Of distinguished ability,
gives to II a character which may
justify the hope that out of IL will
come adequate plans whereby Eu-
rope may be restored. For when
Europe is restored there is inevita-
bly, to follow an increase in our in
ternationsl trade. And that means
that the industries and agriculture
OF the United States will be safely
speeded up to their highest capac-
ity.
Needs Only Moral Support.
The proposition involves the estab-
lishment OF an international league,
not Of the nations of the world, but
OF the leading citizens OF the fore
most Industrial countries of the world.
The members Of this league. so TO call
IL, will address their governments in
the hope that from these governments
moral support and real sponsorship.
which does not involve pecuniary
guara ntees. may be obtained
That is exactly the idea upon which
Mr.. Davison's plan was based. He be-
lieved in private enterprise, co-or-
dination and cooperation between in
dustrial leaders and those engaged
in agriculture. banking and COM
merce
1t is possible now for citizens OF
Great Britain, France. Holland. Switz-
erland. Denmark. Norway. Sweden.
presumably Japan and the United
states. to submit to their respective
On- A1to
set forth the principles upon which
the worlds economic problem can be
worked out.
Purely Industrial League.
A considerable number of distin-
guished citizens Of the United States
ana other countries are associated
with this industrial league-pureIy
an economic and industrial league.
They are in perfect agreement with
another feature OF the Dawson pIsn
which is that although the banking
capital OF TIE world may be able TO
furnish no little aid, nevertheless. the
magnitude of the undertaking is SO
great and the working capital needed
Is so large. that reliance must be
placed upon so-called private assis-
lance, that for instance of the in
dustrial. commercial and aericuI-
tural leadership of the world. The
interests of the whole of Eurone
and indeed of the whole world are
at stake.
Therefore. all countries must unite
in full and earnest cooperation 10
furnish aid to one another in the
hope and belief that by this means n
will be possible soon to forecast the
restoration of normal conditions ana
the end of our present ills"
HOLLAND.