The Washington herald., 1920-12-13
World Recovery Program
Outlined to Harding
Plan of U. S. Entry Into Modified League Of
Nations Presented by Hoover During
Two-Hour Visit

that definite results had been nc.
complished b ythe conference. bu,
Mr.. Hoover frankly ackniwIedreo
that cabinet appointments had beer
discussed generally in Connection
with the leaders who will. direct the
policy OF the new administration IN
dealing with tho pressing interna-
tional and domestic problems.
The conference between tn Pres,.
dent-elect and Mr.. Hoover foIlowad
closely the visit to Marion last weeL
by Charles Evans Hughes Tn
coming Of Ellhu Root, who is ey-
pected here tomorrow or Tuesday
would Indicate that the infiuenc. on
Republicans not wholly opposed N
the league prevails with Senate,
Harding unless 1t is his plan 10 bear
one faction at a time.
Tnere Is some indicatoinn that
Senators johnson and Borah. bitter.
enders. may not come to Marion n
both OF them exchanged yiewsvwith \
Mr. Harding during his recent stav
In Washington. Col. George Har.
yey, also an irreconcilable, how
ever, has been In Marion as "A rues.
OF the Hardings for several davs.
and Senator James A. Reed, of Mis-,
souri,. Is expected some time This
week.
1t is Mr.. Htover's belief that the
domestic problems which are loom
ing In the United States are 40
interviewer with the conditions
abroad that the solution can come
only through a world program,
What Is needed he summarized in
the following manner:
Outlines q Policy.
"First--EXtension of credits to
uropean countries to revive the ex-
port trade of the United States.
The extension of credits should
amount to an investment of Ameri-
can capital in European enterprises
with the definite idea of putting
the European nations on their feet
and getting them back to work.
Second-Determinat of the ex>
act amount and terms of the in
demnity Germany must pay as the
only means OF restoring Industrial
and agricultural activity IN Ger
many.
'Third-Adoption Of some plan to
put Russia back in the ranks of
producing nataions."
The credit plan outlined by Mr..
Hoover follows closely the one en-
bodied in the charter of the Ameri-
can Foreign Trade Corporation, a
s1.00o.OOO.o00 organization launched
in Chicago yesterday to extend in
vestment credits to European ma
tions by which they can obtain raw
materials in the United States.
The United States" said Mr..
Hoover, finds itself in the same
situation as England in 1850. We
produce more than we can con-,
sunfe and must export our surplus.
Eirope can't pay cash, and II Is inf-
practical TO exchange goods with
European countries because a large
exchange would result in swanping
the American market and shutting
down our industries. England years
ago invested in American developt
ments, railroads and public utilities.
America now, to preserve foreign
trade necessary to her prosperity.
must invest abroad"
The question of settlement of in
dustrial disputes also was discussed
and Mr.. Hoover gave the President
elect the benefit of his recent expert
ence In conference with Samuel
Gompers and other officials of the
American Federation of Labor. Mr..
Gompers requested Mr.. Hoover as
an engineer to use his good Offices
and induce other engineers to do
likewise in constituting the engi-
neering profession a liaison between
capital and labor for the adjustment
of Industrial controversies.
There Is no question" Mr.. Hoover
said. but that capital and labor are
understanding that industrial dis
putes can be handled without inter-
vention by the governmet"
Copyright, 1870, Public Ledger Coz