New Britain herald., 1925-08-21
CONTROL LOANS,
 PROMOTE PEACE
J, 5. Has This Chance, Speaker
 at Institute Says

Williamstown, Mass, Aug. .1 Up
 The American government has n
 opportunity to promote peace through control of foreign loans
 fotatons. Alvin s, Johnson, editor
 of the New Republic" asserted to- day at the Institue of Politics. He
 addressed an open conference on the recent foreign policy of the United States with his subject America as International Inves- tor"
 "rhe United States government" he said, Twill undoubtedly be in position to exert an Influence upon
 most of the governments of Europe in the course of the next ten years.
 Its desire, we may assume, will be to use this influence in the interests
 of peace and order. Whether 1t realizes this desire will depend in large measure upon It's insight in interpreting the actual situation in Europe. It is time for American 10 recognize economy internationalism
 as fact and join formally or in- formally with the other nations In working out political institutions
 under which International economic interests may be secure" MT. Johnson pointed out the risk of conflict of interests with other nations where our great corpora tions seek essential raw materials. Some sort of international organiza- tion along could bring order out of the chaos on national interests. The l
 speaker first showed that American l investments abroad now approach | $10,000,000, ,000 and are increasing |
 by about a billion yearly By 1850 | they might amount to $5o.000,0oo. l The policy of "magnificient isoIa- tion" of debtor nations must be al- tered
 The Gasoline Issue When America becomes definite ly dependent on the tropical and sub-tropical zones for it's petroleum supply, twenty-five or thirty million autom obile drivers will see record ed in the price of gasoline. the progress of sequestration of petrol cum properties. The contribution to public opinion will be by no means strengthened the principle of non-intervention."
 Mir. Johnson mentioned Europe, east of the Rhine as still very short of floating capital. The United States, he foresaw, would have an invisible estate of some hundreds of million dollars there to conform her interest in law and order. A meas ure of indirect control by our gov ernment over loans to foreign goy- ernments and enterprises guaran- teed by them was described as practicable and in this connection America might take cognzance of foreign budgets and international policy.
 Our government might hold con-
 sistently to the view that each na- tion is the final judge of its mill tary policy, and yet discriminate against those nations that appeared 10 be oyerreaching themselves in a military sense.
 The commercial policies of the Emitted States government were pre- |hented by pr. Arthur N. Young. eco homie adviser to the department of state.
 Foreign Investments
 "One of the most fundamental of American policies in relation to Trade and investment abroad" he said, lis the well known policy of the open door. It is one thing for the government 10 endeavor to open 7 khe door if 1t is not already open, And to try and keep it open It is another thing to push American in- tercsts through that door. The de- partment of state endeayors 10 pro eide the opportunity, fair field and ho favor. It is for American inter ests to decide whether with the op- portunity before them they wish to lvail themselves of 1t.
 "It cannot be said that the gov ernment pursues 8 policy of eco- aomic or financial imperialism, when he foreign trade and investment Of American citizens are voluntary and Ire not a means whereby the gov lrnmcnt seeks 10 exploit or extend sontrol over other nations,
 ''lt should be emphasized that the department is entirely impartial as between responsible American inter- ssts that may he in competition. fherc is no fayorism to the rich, hin% nor to any particular interest.
 Tn sum. the department of state tlms 10 assists and promote legiti- hate enterprise abroad. not by seek he for it special and eXclusjve rrivi- kGrs but by seeking equality of op- bortunity, not by discriminating for he sake of discrimination but rath- sr reservine discrimination for dE' sense against unequal treatment; not Ay urcing particular American busi- less men to engage in particular en- srrrises or marking out the exact .hannels In which they shall go. but .y seeking to create conditions in shjch legitimate American enter srises can be carried on: not by Iponsoring them or assuming gov Irnmental responsibilities for thei' lets, but by having confidence that That the American business man Primarily needs abroad Is fair nance; and not interest American Enterprises abroad to conceal utter pr ends hut by leaving if 10 Aperl- lan business men to determine fhether their enterprises abroad an justify themselves on a business lasis
 "The department thus aims to ere te conditions in which American nterprises abroad shall be mutually to the Americans con