Evening star., 1922-05-18
NTERDEPENDENCE OF WORLDS
TRADE STRESSED BY SPEAKERS
Stable Monetary Values to Safeguard
Buying Especially Vital, Chamber Of
Commerce Delegates Are Told.

Necessity of the United States taxi
affairs, from a political as well as a
business standpoint, was pointed out
strongly by speakers last night at the
general session of the annual meeting
of the Chamber of Commerce of the
United States. The United States. ac-
cording to the speakers. cannot live in
sphere of isolation, for upon this
country's participation in the great
movement of reconstruction depends
largely the effectiveness of plans for
a return to worldwide normal condi-
tions
Importance of the work of the In
was pointed out by A. c. Bedford.
vice president of the body, who told
of the excellent work that was being
done by the organization in efforts to
pring aboGt resumption of normal
trade copGitions. In this connection
ne said that effective work was being
Zone by the Genoa financial confer
ence, outside of the political group,
and with little publicity. Much of
the preliminary work of the Genoa
conference, he said, was done by the
International Chamber of Commerce
and acknowledgment of its work has
been made by the governments.
Today, said Mr.. Bedford. despite
all the disappointment at failure to
effect major results. the sponsors of
the Genoa conference can point to real
accomplishments. While the political
leaders have been busy with the dis
cussion of national policies and tine
chickering's and disagreements result
ant therefrom. the solid value of the
conference has been developed, re-
a.
rious commissions appointed to study
special topics.
Three Groups Aid Business.
-Four such commissions were ap-
pointed at Genoa One. which may
be eliminated from the economic
point of view. had to do with the
political phases of the conference.
That is the one that has mainly
faile d. thus rejecting the wisdom of
our President and Secretary of State
in refusing to be represented there.
The other three. finance, commerce
and transport, are those from which
the business men of the world expect
greatest results, despite the fact that
they do not receive publicity
From the finance group. he said,
have emanated recommendations for
the stabiliZation of exchanges
through balancing of budgets, etc,
and with them have come others urg-
Ahe q " CO-OTul-
nate credit policy among central
banks to avoid fluctuations in the
purchasing power of gold. That con-
ference is also to attempt co-ordi-
nation of policy between Europe and
the United states. without which no
scheme for establishing the purchas-
inS-power of a monetary unit could
be effective. he said. The transport
group of the conference was another
one to which he pointed as doing eff
fective work.
Solution of the problem of the
worlds economic reconstruction has
not yet been seriously undertaken. he
stated, and then reviewed the present
political situation in Europe, adding
that Ito business men such a situa-
tion spells instability and uncer-
tainty." He told how the violent f1uc-
tuations of the exchanges has had a
bad effect on international commerce.
If" he said, the internal purchas-
ing power of money in the countries
where the goods are to be sold varies
from day 70 day. and If there is no
stability in the relationship to the
dollar of the Esney of the purchaser,
it is but reasonable to expect that
just as little as possible will be pur-
chased. and the business men will
hesitate to make contracts involving
future liability" 1t all brings about
condition of paralysis of interna-
tional trade.
International Chamber Aids.
The international chamber. he con-
tinued, through it's activities and its