Evening star., 1922-10-05

were being carried on with small
attention to the interests of the gov
ernment or the people.
The fight of the two parties over
the tariff. he said. was carried on to
the shame of the American people.
I; is wholly a business question, ne
Sa ID. and should be treated as such
The creation of two new Dolltlcai
pur1ieS---a conservatives ve-llbera! ana
radicaI-and substitution OF a selec-
tive system for immigrants for the
present limitation by quotas were
advocated by Mr.. Munsey.
He based his plea for new polltical
divisions on the ground that the Old
republican and democratic parties had
outgTown their usefulness: that poth
lacked clearly defined issues; ana that
they appe red to voters with promises
Of popular government. dlHerln6
only on minor points. because IL is
their business to differ, to create
differences, to work up issues, with
out which they would cease TO exist.
the Right Honorable Reginald Nc
kenna, former chancellor of the Brit
ish excheuuer. told the bankers, but
such 4 payment would only be pos
sibe if al! other demands are post
poued for ii period which would per-
nit the slabi!iZation of the mark.
Such pos .puI ~Itent should be eN-
Tended to al! European countries with
the -Acrptiuu of England. Mr. Nc
kenna said.
The following were elected by the
national banks division:
President. Waldo Newcomer. Baiti-
more. Md: vice president, Thomas r.
Preston, Chattanooga. Tenn: members
of the executive committee. r.. =.
Pass,nore. Philadelphia: K. +. Mitch
ell Toledo. Ohio: f. g. Melvin. Selma.
Ala: {. w. Carey. Wichita. Kan. and
John +. Hagey. chicago
Praise McKenna's speech.
BY the Associated Press.
LONDON. October 5--Reginald Nc
Kennas address before the American
Bankers Association convention in
New York yesterday is given proml-
nent display In this mornings Lon
don newspapers and is the subject
OF much editorial comment. mostly
appreciative.
The Daily Telegraph thinks the for
mer chancellorS statement Will
smooth the path for Sir Robert Horne.
present chancellor of the eXchequer.
when he arrives in America to dis
cuss the question of inter-allied debts
with American Treasury officials and
the debt funding commission
1t regrets. however. that Sir Rob
erts visit was not timed to precede
the adoption of the Fordney tariff bill
when the BTlt!Sn pOlHt OF We" III lB III
have been urged with d rather bet
ter chance Of its influencing American
opinion"
The newspaper says nobody can
realize better than Mr.. Mckenna
how eifectually that unfortunate
barrier (the tariff must check the
fow- Of that eXportable surplus from
Great Britain to America whereby we
could best pay our debts.
The Morning Post congratulates Mr..
Mckenna on the "dignified and tactful
manner" III which he handled the
question Of the British debt to the
United States and deduces that he
favors some kind of joint action by
the creditor countries to relieve the
situation.
The Times gives great praise to Mr..
McKennas speech. saying that Mr..
Mckenna rendered good service by
empha sizing the fact that we have
the capacity to pay our debts and it
is our determination to honor our
bond in full" and proceeds:
IF. as we believe they will. the
British funding mission also makes
this point crystal clear to our friends
on the other side Of the Atlantic. the
mischief the Balfour note did may yet
be undOne'