The New York herald., 1922-04-11


delivered his formal address opening
the economic conference. arose and
said:
This is the greatest gathering OF
European nations which has ever as
sembled on this continent. and having
regard for the magnitude of the as
sembly, the character of it's represen-
tation and the Importance of the
topics we are here to discuss. the re-
suits of the conference will be far
reaching In their effects. either for
better or for worse. upon the destiny
not merely of Europe but the whole
world.
I'VE meet on equal terms, provided
we accept equal conditions. We are
not here as allied and enemy states !:
we are not here as belligerents or neu-
trails: we have not come together as
monarchists or republicans or soviet
lists. We are assembled as the repre-
sentatives of all the nations and peo-
pies of Europe to seek out in common
the best methods for restoring the
shattered prosperity of this continent.
So may each build up in his own land.
each in his own way, a better condi-
ton of things for the people than the
world has yet enjoyed. But IL we
meet on terms of equality it must be
because we accept equal conditions.
Conditions Laid Down.
"These conditions inviting the Pow
ers were laid down at Cannes. They
apply to all alike; they are the condi-
tions which heretofore have been ac-
cepted by all civilized communities as
the basis OF international good faith.
They in themselves are honorable,
they are essential to any intercourse
between nations. they do not derogate
from the complete sovereignty Of the
state. We fully accept them ourselves.
they are the only conditions on which
we can consent to deal with others.
! will summarize them in two or three
sentences.
ters into contractual obligations with,
another country or its nationals for
value received, that contract cannot
be repudiated whenever the country
changes its government without re-
turning value.
The second Is that no country can
wage war on the institutions of an
other.
THE third Is that one nation shall
not engage in aggressive operations
against the territory of another.
THE fourth Is that the nations OF
one country shall be entitled to i'm
partial justice in the courts OF an
other.
IF any people reject these ele-
mentary conditions of civilized inter-
course between nations they cannot
be expected to be received into the
comfy of nations.
Accepted Mt Cannes.
These conditions were laid down at
Cannes; they were incorporated in the
invitation to this conference: they are
tho fundamental basis OF it's proceed
ings, and all those who accepted the
invitation must be presumed 10 have
accepted the conditions. and I have
every reason to believe that that is the
view which every nation represented
in this assembly is prepared to adhere
to in letter and in spirit.
Europe undoubtedly needs COM
mon effort to repair the devastation
wrought by the most destructive war
ever waged In this world. That war
came to an end three years ago. Eu-
rope. exhausted with It's fury with the
loss of blood and treasure ii involved.
is staggering under the colossal bur-
dens OF debt and reparation II entailed.
The pulse of commerce Is beating
feebly. wildly: in some lands artificial
activity is stimulated either by de-
mands for repairing the ravages OF
war or by generations OF thrift by the
frugal and industrious among the peo-
pie: but legitimate trade. commerce
and industry are everywhere disorgan-
ized and depressed.
There is unemployment in the West,
there is famine and pestilence in the
East; the peoples OF all races and all
classes are suffering-some more, some
less, but all are suffering-and unless
some common effort by all the nations
OF Europe Is made. and made immedi-
ately. TO restore European efficiency
can see symptoms not merely that
the suffering will continue. but that II
may even deepen into despair.
Peace the First Need.
What is the first need OF Europe
Peace--a real peace. We propose 70
study the currency. Good We pro-
pose to examine the question OF ex-
changes. That also is good. We pro-
pose TO discuss transport and credit.
That Is all good. But unless peace is
established and good will among ma
tlons all these discussions will be OF
no avail.
"On the other hand. II real peace Is
the issue OF this conference all those
things will be added unto you. But is
there no peace I'm Europe? II is true
that actual fighting has ceased. but
the snarling goes on. ans as there are
many dogs in every country who
imagine that the louder they bark the
deeper impression they make OF Their