The Washington herald., 1922-02-05
POLICY ON GENOA
TO BE DECIDED
BY US. SHORHY
Conclusion of Arms Par
ley Permits Reply to
Invitation.
{ Copyright, ls0.)

With the Washington arms con-
ference pfactically concluded the
adninistfstion now turns IT'S att
tenticn seriously to the approach
ing European economic conference
at Genoa.
= Soon a decision is to be reached
as to the policy which this govern
nent will pursue with relation TO
the Genoa meeting, a policy to be
outlined in the reply to be sent TO
the invitation received from the
supreme council for American par-
ticipation in the deliberations.
1t is we'll known that President
Harding and Mr.. Hughes determin-
ed soon after the invitation, was
received that no determination Of
the American attitude toward the
Genoa meeting should be announc-
ed until the Washington confer-
ence adjourned.
What hPal decision will be made
by thej American government to-
ward active participation in the
Genoa conference is not known.
but it is certain that the approach
to the decision will be with eau
ton.
Comptroller of the Currency D.
r. Crissinger. in discussing the
economic situation and the task at
Genoa said that the American CO.
operation must depend on the
course adopted there by the Eu-
ropean governments.
Genoa Task for Europe.
The task at Genoa will be pecu-
II, 10 20 xxrffh
he said. zone which must largely
determine how far the European
peoples are prepared to go in order
90 assure economic rehabilitation.
The extent to which America
their economic difficulties will de-
pend almost entirely on the atti-
tude they shall adopt. In, the long
run they will get all the assistance
America is able to give them, be-
vantage to US as we'll as to them.
whether the United States gov
ernment shall be an actual partici-
pant in the Genoa considerations or
not, it remains true that we will
have liveliest concern inf all deter
limitations that shall be reached"
III odAo hS oSAiSNShA
that a sense of the interdependent
relationship of nations had been
developed and that the medium q:
establishing touch and understand
ing among them would be interna-
tional trade.
Convinced as am that the
freest movement and largest vol
ume of international business
would constitute the firmest guar
antee of peace he continued, Il
am devoted to the idea that we
need to give special attention TO
the development of those means by
which to encourage the processes
OF world wide trade.
Facilities Disorganized.
Never since international trade
relations have been important, have
thS financial and monetery facilities
for world trade been SO disorgan-
lied as now. There is a widespread
impression that the problems of in
finance and exchange
are irrevocably bound up with the
complexities and difiiculties of do
nestle finance I believe we have
too readily accepted this view and
that thereby we have been misled
into overlooking some real oppor-
tunities for rehabilitating industry
and commerce. believe, in short,
that it is impossible and necessary
for us to work out means by which
a necessary segment of the worlds
credit and responsibility may be set
aside and dedicated to the special
purposes of international commerce.
Every banker among US is
familiar with the methods by which
special parts Of the national revenue
of embarrassed states have re-
peatedly been segregated for the
purpose OF serving and ultimately
extinguishing particular obliga-
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