The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1921-11-30

By DAVID LAWRENCE.
Especial Dispatch to The RefOrmer.)
Copyright 1921.
WASHINGTON, Nov. 30-America
has decided to join hands with the other
powers of the world in an effort to sta
bilize international exchange. ,.
The United States government has ac-
cepted the invitation of the allied govern
ments to be represented at conference
to be held abroad in the near future at
which the whole question of exchange will
be examined.
This is the most important step in the
direction of financial readjustment when
has been taken since the armlstlce. The
movement may have a far-reaching effect
upOn the revival of business in America
and particularly in the restoration of
markets for the sale of American agricul-
tural and manufactured products.
United States Help Long Sought. .s
For a long time there has been per
siStent effort on the part OF the European
countries to elicit Americas interest in an
international financial conference. There
has even been suggestion that the ques-
ton of the war debts of the allies might
be discussed at the armament conference
at Washington, but this idea has been
abandoned. The movement to reconstruct
the worlds finances will be q slow and
evolutionary one and viii not be confined
| to a single conference but to series OF
meetings which may take the better part
| of a year. The whole thing is the out
growth of the recommendations made at
| the last international conference at Brus-
| sells but ii now has the moral support OF
the United States government which
means that more results will be accom-
| plished.
Just who the American representatives,
will be Is not known, but undoubtedly
some banker or bankers Of prominence.
These men will be in the nature of observ-
erS and will not be authorized TO conclude
any agreements binding the United States.
| but will explore the whole field and bring
/ back to this country recommendations
| which might be laid before American
bankers in a series of conferences such
as President Harding held at the White
House last spring. When there Is an
agreement among American bankers as to
the proper course to be pursued, there
probably will be final conference in
| Washington mt which the whole fiscal sit
uation of the world will be revealed and
definite plans laid for financing the trade
of the globe.
Will Take Active Part.
Americas part in the deliberations
viii hardly be passive even though her
delegates will not have the power TO com
nit this country to any definite plan of
action. The Harding administration in
tends TO throw the fun weight of its in
fluence on the side of financial reconstruc-
ton. This has been urged for many
months by leading bankers as we'll as by
such influential organizations as the
( United States Chamber of Commerce. SO
Vital has the question of international
finance become that men like Frank Van
Iderlip and James Simpson of Marshall
oil q ~ha hrar met YanI
Europe, are insisting that chaos will fol
low if America does not save the financial
situation abroad.
Along this line cabIegrams from Paris
tell of the decision of the reparations com.
mission to appoint committee of bank.
ers and experts in international exchange
to devise means for preventing a shock to
exchange rates whenever Germany pays
or fails to pay her regular reparation pay
ments. Although the United States
doesn't receive any reparation money
nevertheless this country is deeply inter
ested in international exchange and
America will have her observers at the
conference. to be held in Paris next month
which is described in the Paris press des
patches. ~ .....
Go to Root of Trouble
In other words, it may be taken fol
granted that the Harding administration
has embarked upon a policy of co-opera
ton with other governments, not merely
for the reduction of armament burdens
and the settlement of such political mat
tiers as disturb the peace of the Far East
but financial questions which have beer
: hanging in the air ever since the wal
ended which have done more to disturb
business conditions everywhere than any
other single factor. The drop in exchang,
has prevented America from selling he