Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1922-01-06
CoNFERESCE TO IRON OUT
COMMERCIAL DIFFERENCES

New York, Jan. 5.-Early summoning
of an International trade agreement con-
ference to iron out commercial Ell r
ences which he declared were the root
of most modern warfare. was urged 5y
Cordell Hull. chairman of the democrat
ic national committee, in an address to-
night at the Jackson day dinner OF the
Tennessee Society OF New York.
Daring past years" he said. we have
seen practised with impunity all forms
Of tariff discrimination and retaliation.
preferential right Of entry of ports, vio-
| lations OF the open door OF copyrights
trade marks, trade brands. wrongful in
reference with trade routes unfair util-
ization of bounties, bonuses. subsidies
drawbacks and rebates, the economic
and financial violation OF small, unciy-
ilized, or backward nations, tonnage
and shipping discri. lations. economic
/ alliances. trade conc ssionS and other
, preferences by special agreement. Many
/ Of these are trouble making. war breed
! ing practices
International steps have already
! been taken IN a measure to deal with
certain phases of these dangerous 2rac-
tees and policies. Il is certain they can
only be dealt with and abolished by in
| ternational agreement"
/ The most feasible plan, he suggested
| would be adoption by all nations Of THE
most favored nation doctrine IN its I'M
! conditional form Will such p go
gram 1Eoslld cali for sacrifice BY all ma
tons OF certain urclra-,l- .t5-o.44 s,I-
| rangements, thess would be Ear out
weighed by advantages shared by all. ii,
asserted.
Without referring directly to party
Nr. Hull laid on shoulders Of the >reDUh
'ican administration q large share OF
lame for the present industrial s.Umr
Which he said had cost the United State
. panic .nss' Of $4o,o00,60o, 100.
The nation was immensely prosper
| GUS at the close of the war" said Er
Hull we had become the center OF
world finance and commerce. We ha'
no initiation Of currency and 20 u~c1~
irol'able Imitation % cre1it Tho c''7
half OF the world was starving for oU
surplus. Every banker an-
Aran waz then predicting for America al
Uninterrupted period Of ur9araIels
prosperity.
Why did this nation later plunge ove
The economic preci0ice2 Why did ever
prediction made during 1919 by ou
ab!est business men and fnancirrs 70
the first time completely taN?'
The answer. he declared. was tha
America na-l lstllE'a 10 IELa-Lt-sf- ltif.
oessity Of extending credit - s--.c-e
Europe until she could set la1z on he
feet.
The economic cooperation ard ca-or
4, dination practicaJ by the allied nation
: during the war was con0lateiy dizsoIy
I'd, ne said. resulting in an economic d.
'acle THROUGHOUT Eu-one. which cou'.
: iIave been averted had America Wit
) ntha- nations which ca-re out Of the va
relatively intact. extended hel7i2
',and 70 tne disorEaniz~i. out potential
) " rich countries cf central Eurc7e.
Failing 90 get credit extension. b
said. these countries WIRE driven 70
paper money basis. which shattered fo-
eign exchange and eveatUaiiv male
impossible for Euro-c 20 buy in Americ
the surplus supplies she SO much ueee
I'd
Thus American foreign trade W.
'cnoked to death" and Industrial s-a-
aotion n the United States was inevt
able.
America and others Of the strorc,
, nations" he said. must now furnis
, even a greater measure OF economic C,
i. oDeratioa before Eurone can get back G
her feet. and hence before this coun-1
! / can return TO the stable Level OF NJ
rnanent prosperity so much desi-e-l. 1Iu,
, Of the surplus idle gold should Be
? work IN Europe today"