The evening world., 1921-05-26
HARDING CALLS BANKERS
TO WHITE HOUSE TO BUILD
Up AMERICAS EXPORT TRAD
They Suggest as the Best Aid
u. S. Help to Restore
European Finances.
THEN EUROPE CAN BUY
More Conferences to Follow
c. M. SchWab Also Sees
President. a.,

WASHINGTON, May 26.---The Al
ministration's policy of promoting
expectation as a means toward the
restoration of normal business condi-
tions was discussed Mt a White House
dinner last night, attended by Secrc-
taries Mellon and Hoover, ]. p. Nor
gan, Paul waTburg and a number OF
other prominent financiers President
Harding was said to have talked over
the whole subject with his guests.
The dinner was quietly arranged
and no word of it wns made public
until to-day.
It was understood that while no
hard and fast programme was de-
cided upon. the discussion served to
cement the belief OF Administration
officials that one OF the best reme-
dial measures available would be
active cooperation between the
Government and business mon for
revival OF export trade.
It was also indicated that the Ad-
ministratlon policy would turn to-
ward some sort OF aid to the finan-
clal situation in Europe as a part of
the effort for general world stability.
The problem of promoting Ameri-
can investment abroad, particularly
in reinvestment form. is said Also to
have been brought forcibly to the
front and detailed ways and means
discussed at great length.
Mr.. Harding had an engagement to-
magnate. and although no announce
ment was made, the assumption was
that he was consulted on tho same
genera, subject
The dinner Is expected to have an
echo in numerous conferences In the
near future between the President and
other financial leaders.
Others attending the dinner were
James A. Alexander of the National
Bank of Commerce and Charles A.
Sajbin OF the Guaranty Trust Com
pany. New York; Governor Benjamin
strong. New York Federh Reserve
Bank; G.. T.. Mitchell. National City
Bank, New York; William Kent, of
tho bankers Trust Company Now
York, and II. G. McI1ldowney. Union
Trust Company, Pittsburgh,
II Ia understood that ono OF Che
Presidents chief purposes in calling
the flnanoiers into conference was Ia
diaoues the oontern plated loan oi
American private capital te foreign
governments and tho effect of such q
loan an the resumption OF normal in-
dustrial conditions at homo and on
the American export trado. Mr.. Har-
ding is said IN have laid before his
guests ar offer to do everything prao-
tiGable 10 cooperate for tho relief N
economic conditions, ~hiie the bank.
eTs are said to have replied with ex-
press ions of Willingness 70 work IN
close conjunction with the Adminis-
tFatien,
Most sf those present are under
stood 10 have argued emphaticaily
that the surest way to promote eE'
part trade would he by helping ae.
lively in the rehabilitation Of Fure-
pean FINANCES, II ia said eo havs
been suggested that American prod
uets could be sold in many parts o.
the old world only il Amerisaa eapi
tai were invested abroad 70 6aahis
, tho .ure ha ser IN To nav
MF, schwab is understood ia hs.'
disguised with the President th,
problem Of Fehasilitating the Amer
|. lean merchant marlRe, holding tia
radical steps must be taken ggiekil
n The large tonnage epHstEuetsd 6or'
iaE the slr 10 to be kapl