The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1922-05-18
ere Read annex
Hoover's Address On Our
Relations To Russiar1s

dence that there will be a return to-
productivity in order that payment
NAV be made. We arrive at once at the
primary consideration of those econ-
onnic essentials that will make pro-
du ctivity possible and that Will give
security to investment.
Our Government stated these stands
ards one year ago as follows; no
lasting good can result so long as the
present causes of progressive 1mpoV~
erishment continue to operate 1t 1s
only in the productivity of Russia that
there is any hope for the Russian
people, and it is idle to expect resump-
ton of trade until the economic basis
of production are securely established
Production lis conditioned upon the
safety of life the recognition by firm
guarantees of private property, the
sancitY of contract and the rights OF
free labor
Unless she confidence of these mer-
chants ard investors can be secured
there VIII be no credits extended
other than the minor sums of the
greedy speculatory Our citizens in con-
sidering these things naturally raise
the question of the treatment of our
fellow countrymen who have already
invested their savings in Russia, not
alone because of any solicitude for the
comparatively small amount of such
investment but because their treat
ment will be the index of confidence
to Others. and far beyond this, be-
cause there lies here a principle to
which the American people must
needs take heed, for that principle
lies at the root of the whole basis
of international commerce. This prin--
ciple is that unless foreign merchants
and investors may enjoy property and
security of contract under the terms
of the institution by which they ac-
quired them. or a1ternatfvely, receive
compensation for the loss of them,
then the whole fabric Of international
trade and commerce will disappear
and the world will go up in chaos.
It is impossible to conceive commerce
between nations that is not founded
upon the right of property and upon
tho sanct.ty of contract. A century
ago nations were nearly enough self.
supporting to Withstand such a. shock.
The world has now grown into abso-
lutte observation-disclosures. The very life of
people depends upon the movements
of commodities and goods from one
nation to another. Property rights
are not a fetish. they are an instru-
ment of industry and commerce and
arc as indispensable as ships. Unless
there can be an aSsudance of the se-
curity of the rights of foreigners
in goods or investment Of savings.
There is no enforcement of property
rights and contracts between nations
unless we are to force the test of war
to- do. Our only course is to decline
relationships until these thing;a
are maintained. Upon confidence in
the good faith in these principles
Of intcrra tional life.
In the meantime, while Russia
slowly swings toward the standards
that We believe are vital to her re-
coTery and to the point where it is
possible to undertake her rebuilding.
America has not been remiss. Before
the next harvest the American Relief
Administration under my direction.
wifi have expended more than fifty
million dollars in American charity
fon the saving of Russian people from
starvation and in providing seed for.
the next harvest. This operation will
perhaps dc more than save ten mill
lions of humanity from death. 1t Will
through this act of charity have saved
the soul Of the Russian people from an
abyss of despair, too terrible for hu-
man expression 1t IS the visible evi~
dence of the sympathy of the Aneri-
can people and our desire to help.
But when all is said and done, the
great problem still stands out Russia
is slowly dying because the dynamic
forces of production and foreign con1
rldence have not yet been restored.
| We, a great Christian people, look
with horror and deepest sympathy
upon her untold naiseries We wish to
find foundations in realism for aN~'
s1stance to the Russian people. To
extend this help requires a vast re-
| storation Of confidence. It requires
mes and comm cree. Russia is making
/ progress in these directions. We wish
1 70 help but where does lasting help
lie except in the firm and final re.
establishment of those basic furda-
raentals that we have already stated
500 ATHLETES IN b. C.'s