Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1922-10-27
CARY SUGGESTS
ANOTHER CONF ABB
WITH EUROPE ANS
Thinks Frank Discussion
of Finances Will Do
Some Good

, ternational peace conference il
Washington for the full and fran
discussion of all unsettled financial
commercial and industrial questions
in which the United States is inter
ested was suggested by Ebert H
Gary, chairman of the United State
Steel corporation, in a speech today
at the semi-annual meeting of the
American Iron and Steel institute, o.
which he is president.
Such conference, he said, SHOULD
be participated in by able, open
minded, well-disposed representa-.
tiveS from the different nations, such
as those who appeared at the recent
limitation of armament conference.
"If there shall be such a meetinfi,"
he declared, "and the delegates are
all of the type referred to. good will
result to all who are parties. They
would not decide or discuss how to
abolish or overcome the old establish
ed law of supply and demand, how to
avoid existing obligations, but rath-
er how and when to fulfill them
without irreparable injury to any
one or the sacrifice of principle"
Cancellation of Enrope's war debt
to the United States was opposed nv
the speaker. The debts, he said,
were voluntarily, openly and fairly
contracted and cannot be cancelled or
disposed Of on any other basis, with
out doing violence to well recognized
principles of justice and rule of pro-
priety.
$40 cancel these debts or any part
of them without full payment" he
asserted, would be forced charity,
and that is never agreeable to The
donor and, as a rule, equally ais
agreeable to self-respecting person
or nation.
ct is the individual citizens of the
different countries who are to be
consulted and whose decision must
control.
"Americans generally would not be
content with governmental action
which relieved from debt the citizens
of a foreign nation by increasing the
burdens of the former. Likewise
foreigners generally will oppose any
enforced act Of charity. Certainly it
would be abhorrent to the business
men and women of both countries"
The attitude and conduct of a ma
ton, he said, should not be different
from that of an individual
eff your friend is in real need and
is honest and trustworthy" he con-
tinued, "you will assist him by do
nation or by loan, or both, but in the
latter case you do not expect him to |
turn the loan into a gift. If he at |
tempts this your respect for him
I'm the judgment of many of US
the foreign nations can and are will |
ing to pay their debts, some sooner
than others and most of them sooner
than is now generally admitted. We
know something of their capacity to |
work and earn and save and their
mode of living. No doubt in many .
instances productive capacity has
been reduced and we share in their
on account Of deprivation.
1--WE should be cheerfully willinaI
% extend payment at reasonably
ow rates of interest. We should be
glad to make new loans when we are
confident they will be paid. Every
nan or nation in order to measure
Up to obligations must work and
;aye; must be prudent and fair and
economical"
Publicity on both sides Of indus
rial disputes or questions involving /
he welfare Of the public was advo-
ated by the speaker. There are no 4
Obstacles to continued prosperity in L
he iron and steel business in the
United States, the speaker asserted. II
Except such as may arise from inter-
erenca with the natural course Of Il
IlnI1l,y md do,,,opI