San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-25

They politely warned off these re
quests, most Of which came from Amer
lean business men. The chief argu
ment advanced then was that in any
economic conference, the Uni.ed States
as host would have to lay down a
program and this would involve sac
rifices just as was done at the outset
1t was also contended by the Presi-
dent that until the Senate acted on
the arms treaties there would be no
use entering into further conferences
and when the Senate did act, the
statement was made that until the
powers which signed the arms agree
ments actually ratified them it would
be futile to propose other economic
readjustmelts which involved ques-
tons even more delicate than limita-
ton of naval armament. All the
powers have ratified except france and
action by the French is expected with
in a fortnight.
Harding Opposes Move.
The arguments, however, agains.
Americas taking the initiative remain
the same in the executives mind. He
feels that until Europe is in a more
accommodating mood, a conference on
economic questions would be dead
locked. Belgium did take the initia-
tive few moths ago and her invita-
ton 20 an economic conference to be
held at Brussels still holds good. Her
activities had the warm approval of
the American government. But when
inquiry was made as to whether
France would consent to permit the
subject of reparations to be made part
of the program Of the economic con-
ference, the Poincare government at
Paris fatty refused.
There has been no change of minis
try in France since then and the Ruhr
situation has developed in the mean
time introducing a new series of prob
lens which France is demanding shall
be settled between Germany and
France directly.
The President has felt that the sue
cess of any economic conference hinges
first Of all on a willingness to make
mutual Sacrifices and upon a recogni-
ton of the fact that reparations fur
nish the keynote of the arch of world
readiustment. Must Europeans in
sist that the debts of the Allies TO
each other ana to the United States
are also fundamental. but President
Harding feels that American public
opinion would OF approve puttinsl
into the hopper the subject of war
debts because such n step might be con-
strued S inviting a discussion of debt
cancellation. against which Congress
already has taken a determined stand
in legislation limiting the powers of
comm issions created to negotiate for
funding of the war debts.
Being unable to propose sacrifice
on war debts, being unable also to
persuade France to discuss a read
iustment of German reparations, the
President has the firm belief that a
world economic conference would be
good thing if there were any assurances
of a grogress being made on these
important fundamentals.
The Rome Proposal.
The resolution PASSED at Rome,
largely through the efforts of John
Ii. Fahcy of Boston, former president
of the United States Chamber of Com
merce. represents the sentiment Of the
executive organization of the American
chamber and has the support of many
groups of American business men who
want to see Ii purchasing power OF
Europe Increased through improved
exch:nn" YGt"S.
Mr.. FGhey is an ardent champion of