New-York tribune., 1920-09-30
Speakers at Brussels Hold
Exchange Cam Best Be
Stabilized by Producing
More and Spending Less
u. S. View Called Severe
DELEGATES Think Boyden
Asked Too Much of AL
lies i'm His Statement

10 work, to live on their own activities
and pay their own way, and to produce
more and spend less, were the prin-
eipal remedies to put health into the
currency situation and stabilize ex-
change proposed at to-day's session Of
the international financial conference
here.
DR.. G. Vissering, Of the Netherlands 5
Bank. who opened the discussion on
currency and exchange, replied to yes
terday's statement of Roland w. Boy
den, the unofficial representative Of
the United States. with a yelled hut
unmistakabls warning to the United
States that 4 financial disaster should
come to Europe through the failure Of
general cooperation by all the leading
countries of the world the United
States would suffer as we'll as Europe
"Boyden wants to found a United
States Of Europe" was the general
comment on Mr.. Boyden's speech. Some
Of the delegates, particularly the
French. expressed the thought that he
went TOO far in asking the victorious
Allies "to go moro than half way" in
order to harmonic the interests Of
their former enemies.
One Of the dele tes, commenting on
Mr.. Boyden's advocacy Of conciliation
Of former enemies and the notice he
gave that the United States would give
no immediate aid to Europe, said:
The Allies can no more forget what
Germany owes them than the United
States can forget what is owing to
them by Europe"
Boyden's View Called Severe
All the delegates sail they recog-
nized Mr.. Boyden's address as coura-
geous, but some criticized it as severe
upon the victorious Allies who are the
creditors Of Germany. Other dele
gates said they regarded it as USE
full, if not necessary, reminder to
Europe that she must help herself be-
fore asking further help from the
United States.
MY. Boyden's seat was vacant during
the comment on his address. He had
departed FOR the day.
IN MS speech yesterday Mr. Boyden
explained that Americans had never
been accustomed to investments abroad,
having always found opportunities at
home.
When you add to that fact" he con-
tinued, 1.-The fact that Europe has gone
through a terrible war, and recognize
conditions in Europe, you have in your
minds eye q picture Of conditions
which will enable flnanciers to see that
something is in the way Of inves tments
abroad.
Conditions To Govern Investment
Yet the investment now going on
will continue. but only to the extent
that our business men And it is justi-
fed by conditions. They will see it is
justified as they see how much Europe
is actually doing to readjust these con-
ditlons, and as they see growing feel
ing OF harmony and unity among these
separate e+ates of Europe
If America could see an advance
toward economic union among the diff
ferent states Of Europe, IL it could see
gradually coming about a decrease in
the hostility which reigns to large ex-
tent among these different states, you
would then find the psychology of the
American business man much changed
as to conditions over here"
Mr.. Boyden compared the facility of
comm cree between the states in the
American Union with the conditions
resulting from the demarcations of
European states and their jealousies
Of each other, saying: THE American
business man sees over here in Europe
different states, each working largely
fos itself and all failing to work in
harmony.
Predicts United Europe
"When you see growing OUT Of shis
situation something more In the way
Of q union OF the states Of Europe you
viii see the change IN the psychology
Shts conference will have something to
do toward leading to that state Of
things.
u congratulate the league on hav-
ing invited here the representatives Of
the nations that were vanquishcd in
the war. This will help Americans
TO appreciate that there is a chance
that Europe may get together. When
struggle like this has ended it is for
the victors to get more than halfway"
Mr.. Boyden recalled the Civil War
In America and the fact that the pas
sions it caused had disappeared, The
united States was as united to-day
~ any country in the world, and ne
looked forward to something of that
kind in Europe.
essential condition FOR the increase of
production which must bring about
economic restoration OF the world,
Kogo Mori, japanese Commissioner in
London. told the conference. This in
wolves complete elimination Of restric
saons on both imports and exports, es-
peetaily those applying to raw mate
Sfals, he aaid
In his review Of conditions in Japan
ID. Hori said his country had not es-
eaeped from the general state Of affairs
which preoceupied the world.
At Tuesdays sessio- Herr Bergman,
yepresenting Germany, expressed the
thanks Of his government TO the
League Of Nations FOR having extended
an invitation to be represented at the
conference, and concluded by saying:
"fn spite Of the present difficult stu
eSon we do not consider the financial
prospects oS Germany desperate. The
people there are gradually finding their
way back TO order, and Willingness TO
work is reviving everywhere In tine
country"
SORE THROAT
Irritated mucous