Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-06

TRADE FAIRNESS
REAL ROOT OF WAR
Democratic Chairman Hull
Urges World Business Con.
ference Be Held.
TO END DISCORD CAUSE
Help America by Putting Eu-
rope on Feet, Tennessee
Leader Advises.
TO END DISCORD CAUSE
Try Associated rrcss.I

moning ot an International trade
agreement conference To iron or.
commercial differences. which he de-
ciarcd were the ROOT OF most modern
warfare. WAS urged by Cordcn Hull.
chairman OF the Democrats National
COMMITTEES. In IA address ;onigh, ut
the Jackson Day dinner ot the Ten
ncssce Society OF New York.
During past years. he said. "we
have seen practicod with impunity
all forms cc ta-ir discrimination and
retaliation. preferential RICH; OF en-
Try OF ports. violations %. the open
door, OF copyrights, trade mark,
trade brands, wrongful Interference
with trade routes. unfair utilization
OF 0ountics. bonuses, subsidies. draw
backs and rebates, the economic and
financial violation of small uncivil-
lied or backward nations, tonnage
and shipping Giscriminations,s eco
nomic alliances. trade concessions
and other preferences ny special
aErecIncn'. Many OF these are
trouhic-1naking. war-brccdlnE pras-
tees"
Nusf Bc Settled Internationally,
international steps have al1caty.
been taken in a measure 10 deal with
certain phases OF these dangerous
practices and policies /; is certain
they can only he dealt with and
abolished by International agree,
mcnt-
Tho mos, feasible plan. lie sug-
Gested. would he adoption by all ma
lions OF the most favored nation
doctrine in It's unconditional form.
While such program would call
Tor sacrifice by all nations OF certain
profitable special arrangements
these would be far outweirhcd sv
adfantaEes shared by all. he asserted.
Biamr. C. o. u. for slump.
Without referring directly 20
party. Mr.. Hull laid on the shoulders
of the Republican administration n
large share OF blame for the presen,
industrial slump. which. he said. had
cost the United States u panic loss
OF $4,000, 100000.
America. he declared, was "in
Wonderful condition at the clos. O..
me war. with national wealth of
nearly 100000, 100000. an interna-
tonai commerce OF $4,000. 10000
gold supply OF S3.c7s.O9O. 900. foreign
commerce o. $4,000. 100000. trade
balance or $4,000, 600, GOO. a foreign i'm.
deb;cdness In our favor ,i more ,n,r
S1l.noo.ooo annual savings OF
o"p'ooV.eoo ard grca, mercantile
marine.
The nation was immensely pros
porous he continued. 1--WE had be-
come the center NJ, worad finance ami
commerce. We had no imitation az
currency and no uncon,rollable inna-
ton OF credit. The other hair OF III.
world VAS starving for our surplus
Every barker and business man was
then predicting for. Nmerica an un-
Interrupted period OF Unparalleled
prosperity.
Then Came the Plunge.
Why. then. did this nation later
plunge over the economic precipicee
Why did every rredictian. made dur.
Ing 1919 by our ahlcsl i,as mess men
and Enanc!ers for the first tsrne com
pletely fail?"
The answer. he declared. was ina,
America failed TO recognize the ne
cessity OF extending credit 10 stricken
Europe until she could get back on
her feet
The economic cooperation and CO.
ordination prac;iced by allied ma
lions during the war was con,nln,.Iv
dissolved. he said. resulting in an
economic dehac!e throughout Europa
which could have been avcr,ed. had
America. with other nations. which
came out OF the war relatively in
tact, extended helping hand 10 the
oisorsanized. but potentially rich.
countries OF Central Europe.
railing to get credit extension ne
said these comntries were driven :,
paper money basis. which shat
tered foreign exchange and even,u-
ally made 1t Impossible for E,urore
10 buy In America the surplus SUP.
plies she 30 much needed.
Foreign Trnde Slaughtered
mus American foreign trade was
"choked TO death" and industrioI
f'asnation in the United State. was
Inevitable.
i have offered these observations -
( ne concluded, lin an effort Ia ascer.
o" "hat LESSONS America can learn
pS winch 10 profit in the future
Inc first conclusion / derive is
that hereafter this nation mps,
oenize that world economic co,,.t
lions have direct cffec, on o,,- A.
mest!c business and Industrial Sitn.
alton, and that tho old-ijna ,,,,t.'
cial policy OF commercial isoI,,,a,,
can no longer he prac,icoa hy ',o,.
country with either wisdom or so
ty.
Heal Cause Of nrcakdou,
IN the second place. the saii,,r.
OF TINS and other nations To .o-o,.l,
ate. mainly through private fin.,,",'.,
hhn business agencies. 10 piy. an,
trai and Eastern Europe Sprb ,i,n.I..
moral and economic asstgtar,a -
was feasible during 1919 o,d ,,sn
measurhbly contributed ia ia
merciai and Industrial breakdo,".
which occurred there in the fore nar,
OF 1920. part
In tho third place. America 49,,
2thers OF the stronger na,lons r,,,.,
row furnish even greater me,s,,,,
or economic cooperation boforn
Europe can get back on her Zoo, .a