New Britain herald., 1926-10-20
FREE TRADE IDEA
 LIKED IN BRITAIN
France However, Receives Pro-
 pOSalS With Suspicion

New York, Oct, 20 LP-The mani- fcsto issued by bankers and in dustrialists of sixteen countries, ap- pealing for the removal of tariff barriers as a specific for the finan- cial and economic ills of Europe, has been received with praise in great Britain and Germany, but with mild skepticism in France.
 It is stated in financial circles here that in no manner or form may the manifesto be considered a plea for free trade or as an invitation 10 the United States to revise it's tariff policy.
 Berlin advices said the idea of the manifesto originated last spring with Montagu Norman governor of the Bank of England, who showed it to Dr. Hjalmer Schacht. president of the German Reichsband. Andrew w. Mellon, secretary of the United States treasury and Benjamin Strong of the Federal Reserve bank, New York, who are said to have approved it with slight notifications. Some of these financiers conferred at Antibes, France, during Mr. Mellons summer vacation in France.
 One international banker here said TO special significance could be attached to the action of the Ameri- can bankers, since it merely repre- scented the unofficials suggestion of i, time was ripe to study European tariff agreements and restrictions with a view to their modification.
 Albert H. Wiggin, chairman of the board of directors of the Chase National bank of New York, said he signed a statement in Europe last April He said the document ex- plained itself Neither J. ?. Morgan nor Gates W. McGarrah, other American signatories are in the United States at present. John J Mitchell of Chicago, who also signed tho document, said that in no way did it refer to American tariffs President Coolidge is said to believe that the tariff reform advocated concerns the European states moro than the United States, because the standards of living in them do not differ materially and tariff walls therefore do not have the same eff feet as in this country.
 In London it is considered that the significance of the manifesto lies more in the weight of it's signatories than in it's subject matter. which is simply an appeal for the doing away of many barriers which prevent the restoration of European pre-war in ternational trading and exchange. In Berlin theS publication of the manifesto caused big jump in some stocks, rises as high as 13 per cent having been registered. Most of the Berlin newspapers regard the document as an admission by lead ing bankers and investors of the world that the present sorry state of the worlds trade and commerce" is mainly due to the economic clauses of the Versailles treaty.
 Paris, Oct 20 LIN-The manifesto of the worlds bankers and indus trialists has been received here with some skepticism. not devoid of suspicion. French political and com mercial circles regard the document as well meant but Utopian.
 LuCien Romier, the eminent economist, in an article in the Fi- garo finds the idea of bringing the different economic systems of Eur ope into line an excellent one, on condition that the operation is be- gun by equalizing the burdens and debts not only between European nations but between them and the Urited States. Otherwise, the writ CT says, a heavily privileged situa- ton will be created for nations who