The New York herald., 1921-07-01
TO STUDY EFFECT OF
EXCHANGE ON DEBTS
International Chamber Urged
to Appoint Commission
for Purpose.
Ru the Associated Preaa.

LONDON, June 30.--At to-day's session
of the International Chamber Of Com
nnerce a resolution introduced by the
American delegation and carried unani-
rnously. said this conference was of the
opinion that without reference to the
commercial policy of particular nations
as to export and import trade. 1t is In
the interests OF international trade and
the restoration OF normal industrial ac-
tivity within each nation that State
operation of industries and interference
with the regulation of business should
be reduced to the minimum in order that
the normal forces of private and COM
petitive business be permitted to operate
and produce their salutary effects.
The financial group to-day discussed
the question of the interallied debts DR..
Walter Leaf, prominent London banker.
said that the American, French and Bel
gian delegates, since the last sitting.
had agreed on the following resolu-
tions:
That a study be made Of the effect
on international exchanges OF the pres
ent position Of the Interallied debts
and possible remedies. and that similar
study be made of the payment and util-
ization of the German reparations."
Maurice Lewandowski OF Paris said
the French delegates had carefully con-
sidered the question OF international ex-
changes. At the present time $4,000
100000 francs was owing TO the Brit
ish and American friends OF France.
The French delegates, he said. did not
come to the conference asking Frances
creditors to cry quits" but France
could not reestablish herself unless due
consideration were given to the Inter
allied debt. The question was linked up
with the German debt, he said, and the
French delegates would be willing 70
adopt the resolution
+. o Watts of ST. Louis, Mo, said
there was no objection to adoption of the
resolution, but that the American group
was not prepared to discuss its merits
with respect 10 the interallied debts or
reparations. American public opinion,
he declared, would not be favorable at
this time to such discussion here, nor
was American public opinion prepared
for any definite suggestion. The Amer
lean delegates felt, however. he said
that American citizens and those having
American policies in their hands would
be glad to receive such suggestion from
the special commission.
The resolution was carried by the con-
ference with the addition of the words.
"and that II be referred to the Council
OF the International Chamber OF COM
merce to appoint commission for that
purpose"
The group of the chamber on trans
portation and communication, of which
Walker D. Hines, former Director OF
Railroads of the United States, is chair
man, adopted resolutions 10 be sub
mitted to the general meeting of the
conference for approval which embody
approval OF the work OF the international
Communications Conference in BARGE
lonia, Spain. the scheme for an Anglo
French tunnel, the inauguration OF
freight train ferry services across the
English Channel and other waters where
such services would be commercially
feasible, uniform measurement Of the
net tonnage OF ships. uniform bills of lad
ing covering rail and sea transport, mod
ification OF international commercial
terms and other suggestions calculated
10 facilitate the handling OF cargoes at
ports and overland shipments. Reetors-
tion Of the pre-wsr postal services. re-
medal passport legislation and improve
nent In cable facilities also are urged
in the resolutions.