Evening star., 1922-10-06
DENIES TAR|FFbAN
ON Foreign TRADE.
British Financier Tells Bank
ers New Law Will Not
Close U. S: Market.
URGES DELAY ON DEBTS
Trust Company Head Says Allies
Should Have Ten Years
Grace.
URGES DELAY ON DEBTS

NEW YORK. October 6-The allied
debts to the United States and Ger
man reparations and settlement of
these problems as they may affect the
industry and commerce of the United
States were the outstanding topics of
interest at the third and closing ses-
sion of the convention of the Ameri-
can Bankers Association here yester-
day.
While Sir Reginald McKenna, for
mer chancellor of the British eX-
chequer. in an interview said that he
believed that the new tariff law would
increase prices in this country to
such an extent that foreign merchants
would be able to leap the tariff bar
rlerS and remain in the American
market, the bankers expressed the
nope that the President will not hes
ltate to make use Of the power grant
ed him by the new tariff law to make
such adjustments in the schedules as
may be necessary from time to time
Tor restoration Of our International
commerce"
Suspension Of the debts of France,
Italy and other European debtors of
the United States for a period OF ten
years was recommended by President
Alvin w. Krech Of the Equitable
trust Company as means Of taking
| itics for definite period and creating
an atmosphere of judicial aloofness
IN which the subject might be ap-
Defends Labor Court.
Amy cancellation of Europe's debts
to the United States at the present
time would not assist either A'rance
or Italy in collecting reparations from
Germany. he asserted. America must
and Will keep faith with Europe, he
concluded. but Europe must do her
part and keep faith with herself
Gov. Henry j. Allen of Kansas. in
defense of the Kansas industrial re-
i9tions court, said that it should not
be expected that every time a new
contract is to be made between the
miners and coal operators or between
the railroad workers and railroad
heads that the contract should be the
basis of a vicious and costly civil
war upon the helpless public.
Henry Morgen thau,. former United
States ambassador to Turkey, in an
outline OF the situation in the near
east. hailed the British forces at the
Dardanelles under Sir John Haring-
ton as the saviors of the civilization
OF the world in the last two weeks.
Near East Menace.
"If the Turks had been allowed to
cross into Thrace two weeks ago as
conquerinS army, there would surely
have been war in the Balkans" he
asserted. Bulgaria would have arisen
to contest with the Turks for possess
sion of the Thracian ports leading to
the Mediterranean, and believe Ger
many. encouraged by Kemai Pasha's
success. would have argued that if
the Turks could thus successfully
defy ne allies, she also could do So
and general warfare might have COM
menced in central Europe. The Turks.
because sfa nd
enter Thrace peacefully, and war has
been averted"
Turkey is a fostering boil which
must be destroyed, he asserted, before
there can be peace in the Balkans.
The convention ended in a ball last
night. A golf contest and a trip to
West Point is on the program for
today. Two Hudson river steamers
and a special train have been char
tered to carry several thousand dele
gates and their families to the Mill
tary Academy. where a special pro-
gram has been arranged.
Officers Elected.
Theodore G. Smith, vice president
Central Union Trust Company, New
York city, was elected president of
the trust company division. Evans
Woolen, president of the Fletcher
Savings and Trust Company. Indian
apolis, was chosen vice president.
The executive committee consists of
Frank W. Blair, president, Union
Trust Company. Detroit; Edward ]. |
Fox, Easton. Pa; ". S. Miller. Chi
cago; Gilbert 7. Stephenson. Win
ston-Salem, N. c.; Thomas H. West, |
Providence, r. I.
resolution offered by Francis H.
Sisson. vice president Of the Guar
anty Trust Company of New York, |
reafiIming the divisions stand
against removal of the American
Bankers Associations offices from
New York to Washington, was
unanimously adopted.