Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-04-10
GENOA ECONOMIC
CONF ERENCE To
CONVENE TODAY
Representatives of More
Than 40 Nations on Hand
Limited States Declines
ltaIy's invitation.
(By The Associated Press. J


Of more than forty nations, includ-
ing Russia but minus the United
States, were here today prepared
for the opening Monday of the
Genoa economic conference. re-
garded here as the most moment
GUS assembly since the Versailles
peace deliberations.
All eyes are upon Russia, for It
is the first time this great nation
has participated in world affairs
since the overthrow of Kercnsky's
provisional government in the
spring of 1917. After more than
four years of experimental gov
eminent, Nikolai Lenine, Russian
premier. has abandoned much of
what he previously considered es-
sential to bolshevism and has con-
sented to participate in a confer
ence called by "capitalistic ma
tons"
Why U. S. Declined.
On the ground that the gather
ing will be political rather than
economic, the United States has
declined 1taly's invitation to send
representatives. The American peo-
pie. Secretary Hughes said in de-
Ginning the invitation. are anxious
to assist Europe in recovering its
economic life but feel that they
cannot involve themselves in Euro
pean politics.
Decision to call the Genoa con-
ference was reached by the allied
supreme council meeting at Cannes
early in January. Rapidly dimin-
ishing European exchange. billions
of dollars in unpaid debts, German
reparations, necessity of recon-
structing devastated areas, the Rus
sian situation and hope that the
United States would lend itself as a
stabilizing influence constituted the
pressure behind this decision.
Germany. represented in a pas
sive capacity in nearly all Euro
pean conferences since Versailles
is expected to play a more active
part at Genoa. Many observers
even so so far as to predict that
Great Britain and Germany Will
dominate the assembly by working
hand in hand for the salvation of
their industrial lives through the
resurrection of their markets in the
east and south.
Program OF Conference.
Briefly, the conference will seek
to accomplish some means for the
the granting or extension of for
eign credits to tho most enfeebled
countries and will then attempt to
set UP machinery for assuring such
foreign capital that the fruits of
its investment will not be lost.
The resolution calling the con-
ference sets forth that the nations
of Europe cannot presume to die
tate to one another the principles
under which they must conduct
their internal affairs but adds that
foreign capital cannot be expected
to come in unless the nations rec
ognize all obligations and public
debts previously contracted or to
be contracted in the future, agree
to indemnify all foreign interests
for loss which has been caused
through the confiscatlon of prop
erty and establish legal punishment
to assure the impartial execution
of all commercial or other con-
tracts.
The resolution also suggests that
the nations ought to have a con-
venieut means of exchange; that
all nations should agree to abstain
from propaganda subversive OF the
political system in other countries
and that all nations take common
to abstain from ag.
erosion on their neighbors.
Regarding Russia.
Regarding Russia, the resolution
concludes:
"If the Russian government
claims official recognition In or
der to assure development OF lts
commerce, the allied powers can
accord the same only upon ac-
ceptance of the foregoing stipu-
lations."
1t was Russia and the question
of her participation in the Genoa
meeting which played an import
ant part in Premier BRANDS
sudden decision to return to Paris
and lay the Cannes deliberations
before the chamber of deputies in
the hope of receiving a vote of
After a lengthy and
eloquent speech, he suddenly an
nounced his resignation and was
succeeded by Premier Poincare,
who formed new cabinet.
France was flatly against per-
hitting Russia to enter the &C.
noa conference without the i'm
position of advance restrictions
on the subjects the bolshe"iki
would be allowed to introduce.
while England was willing that
Russia should participate with
out restrictions other than were
mentioned in the resolution as
applying to all nations.
Prime Minister Lloyd George
also experienced something of
flare back from British political
leaders, with the Genoa confer
ence and its Russian question en-
tering into the difficulty.
The prime minister's desire to
carry through the Cannes pro-
gram precipitated virtual crisis
in his coalition government. fol-
lowing which he went before the
house of commons for a vote of
confidence on the subject.
Another interesting phase of the
Genoa deliberations IL treaties and
political subjects are permitted
upon the agenda, concerns the
Baltic and Balkan states embrace
ing Poland. Finland Esthonia,
Latvia. Rumania. Jugoslavia and
Czechoslovakia, all of whom will
have delegates at the conference.
OF these nations, Finland. Lat