Evening star., 1921-05-26
BANKERS DISCUSS
EXPORT PROBLEM
WITH PRESIDENT
Bio Financiers Confer With
Executive and Secretaries
at White House.
CREDIT FOR PROMOTING
TRADE GAINING FAVOR
Dinner. Quietly Arranged, May
Have Effect on Policy Toward
Europe's Finances.

The administrations policy of pro-
rrntjn. expectation as means toward
restoration of normal business condl-
tions was discussed at a White House
dinner last night attended by Secre-
taries Mellon and Hoover. J. +, Nor
rar. Paul WarburE and A number OF
other prominent tinarCiers. President
Harding was said to have talked over
-he whole subject with his guests.
-hc dinner was quietly arranged
end TO word of it made public until
today.
1t was understood that while no
hard and fast program was decided
on the discussion served to cement
tire belief of administration officials
ti>at one of the best remedial meas
GF.S avails.bIe would be active CO.
operation between the government II
.sd business men for revival of eE-
i,"-t trade. II was also indicated that
til" arim iniStration policy would turn
toward some sort of aid TO the finan-
ciai situation i'll Europe as a part
Of IN" effort for general world sta
biiIty.
Conferences Are Expected.
The dinner is expected to have an
mar future between the President and
o-her financial leaders.
Others attending the dinner were
James :. Alexander of the National
Eank of Commerce and Charles A.
Sabin Of the Guaranty Trust Com
Iany. New York; Gov Benjamin
Strong. New York Federal Reserve
J3ank: G. f. Mitchell. National City
hank of New York: William Kent of
The Bankers Trust Company. New
i ~v,,r
Trust Company. Pittsburgh.
Loans to Europe Discussed.
IL is understood that one of the
Presidents chief purposes in calling
sthe business men into conference was
I" discuss the contemplated loan of
American private canital to foreign
governments and the effect of such a
loan on the resumption of normal in
Custria! conditions at home and on the
american export trade Mr.. Harding
Is said to have laid before his guests
an offer 10 do everything practicable
TO cooperate for the relief of eco
nornical conditions. while bankers are
sad to have replied with express
sions Of Willingness to work in close
conjunction with the ipistration.
Favor Aiding Rehabilitation.
Most of those present are under
stood to have argued emphatically
that the surest way to promote ex-
port ifaCe "OuI6 De Dy nelpinS ac-
tiveiy in the rehabilitation of Eu-
ropen finances. 1t is said to have been
suggested that American products
could be sold in many parts of the
old world only if American capital
were invested abroad to enable the
purchasers to pay. The problem
Of promoting American investment
abroad, particularly in reinvestment
form, is said also to have been
brought forcibly to the front and de-
tailed ways and means discussed at
great length.
Mr.. Harding had an engagement
today with Charles NJ. Schwab. the
steel magnate.
Mr.. Schwab said he had general
discussion of the shipping situation
with tho President.
He pointed out the necessity for a
number Of drastic changes in the
present shipping law and presented
figures TO show various weaknesses
in the present law, especially as it
regards the operation of ships, in
surance and labor. Mr.. Schwab said
that he is only TOO glad to aid the
President in making any decision re-
garGing the administrations policy
in the shipping question. and that he
Hoped that the President would be
able to obtain the services OF the best
man possible as chairman of the new
Shipping Board.