Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-05-18
NATIONS OF
WORLD ARE
DEPENDENT.
Experts Declare All
Countries Progress
Together.
DEBTS OF ALLIES
Arguments Both for
and Against Pay
ment.
DEBTS OF ALLIES
Special to Indiana Daily Times
and Philadelphia Public Ledger.


WASHINGTON, May 1S.-The world Is
ness conditions and confidence in ali
countries there cannot be progress along
those lines in any one country. That
was the theme of the second days gen.
eraI sessions of the United States Cham
Der Of Commerce.
Reasons for ana sgainst the cancei.a-
ton of the allied Indebtedness also were
advanced by speakers and suggestions
made for bringing about economic I'm
proyement In Europe included cancella-
ton Of the Indebtedness, partial cancel
lation and that the United States be
represented on the reparations commits
sion.
Emphasis was placed that restoration
ness men and bankers and not the gov
ernments of the various countries.
IN
EUROPE CRITICAL
1t was also made plain to the meeting
that the economic situation In Europe
is critical and cannot be settled without
the help OF the United States.
Speakers who brought before the meet
ing the necessity of canceling the allied
Indebtedness were listened to attentively
by the audience, but any effort to have
the matter Endorsed by the convention, 1t
is reliably reported will be voted down.
Sentiment among the delegates is for q
business-Ike contamination OF the debt
question along sane business lines.
The general sessions and the group ses-
sions brought forth formidable array Of
than, DWIGHT NJ
Morrow of J. 2. Morgan & Co, John Ross
Delafield of Delafeld, Thorne and Bur-
leigh, New York: Silas II. Strawn, chair
man Of the board OF Mont gomery Ward &
Co., Chicago; A. c. Bedford. vice presi-
dent of the International Chamber OF
Commerce from the United States, and
president of the Standard Oil Company OF
New York: DIR. J. c. A Everwijn. min
lister Of the Netherlands to the United
States, Francis FL. Sisson, vice president
Of the Guaranty Trust Company OF New
York: W. w. Husband, commissioner
general OF immigration: W. S. Culbert-
son. a member Of the United States tariff
commission; Fred /. Kent. vice president
OF the Bankers Trust Company OF New
FORK: George ". Edmonds, member OF
Congress from Pennsylvania, and L. T.
McFaGden, chairman Of the House Com
mittee on banking and currency.
MORROW AVOIDS
MORGAN ATTITUDE.
Nr. Morrow in his address tudiciously
refrlined from making known the atti-
fdGe Of the house Of Morgan on the can
cellation Of the allied indebtedness Ques-
eicr-
It IS the function Of organization like
the Chamber Of Commerce OF the United
States to educate the people Of the coun-
try to think internationally so that when
Congress may be asked to authorize the
pa rticipatiOu OF the United States In
the solution OF international problems, the
members of our national legislature may
&c. as becomes the representatives of
'tEs richest and most progressive cOun-
try On EARTH" according to Silas II.
Strawn Of Chicago. He spoke on repara-
items in relation to American business.
THE great problem of reparations is
no. only how much can Germany be made
to pay" he said, but how much and
how fast can the allies afford to take"
He pointed out that every nation must
realize the necessity OF permitting Ger
many to use at least a portion of her
exports to buy imports, II the trade Of
other nations Is not to be seriously I'm
paired.
- lStttNc anu cut OIL our
foreign trade, he declared would result
in such intensive competition as TO pre-
cipitate an enormous panic In this coun-
try, the like Of which has never been
seen"
Because of our vital interests In the
reparations matter" he said, 1.-THE United
States should be represented on the repa
ratfons commission"
EXCHANGE VALUES
DO NOT COUNT"
The value Of exchange does not count
very much In the present problems to
malcy, declared Dwight W. Morrow of
New York, who spoke on Financial Re-
Mobilization of Europe in Relation to
American Business" what is needed, :"
he said, sis for exchange to get TO some
point and stay there. Fluctuations in
price is the handicap at present"
He attributed the industrial depres-
sion in the United States to "mal-a
justlnen, of production and explained
this term as being too much production
Of one thing and not enough of another.
The one fact that stood out In high
RELIEF as result OF the experiences OF
the war that the whole world, from an
economic standpoint, is an indivisible
unit, according to A. c. Bedford. presi,
dent OF the Standard Oil Company of
New York. I'VE had not realized prior
to the war;" he said, how absolutely
each part OF the world is dependent upon
the other parts"
We are sailing in uncharted seas, but
believe we are making Roadway and
that we shall be able to deal effectively
with these problems with ever increasing
confidence and assurance of success" he
said.
Mr. Bedford said It is vital that both
Russia and Germany should be restored
to economic productivity and to their
full commercial relations with the rest
Of the world.
Cutting down OF government expenses
all over the world would help the pres
ent international situation a great deal
toward reconstruction. DR.. J. c. A. Ever
win, minister OF The Netherlands to
the United States, told the Delegates
Copyright. 1922, by Public Ledger Com
pany-