Evening star., 1927-05-24
ECONOMIC PARLEY
CLOSES SESSIONS
Conference of Nations Ends
After Adopting Plan to
Offset War Ills.
BIZ the Associated Press.


GENEVA. May 24.-Having framed
an economic code which 1t is hoped
viii cure the economic ills caused by
the World War. and having welcomed
the Soviet Union into world co-opera'
ton in commercial matters. the Inter
national Economic Conference adj
journed last night with the opinion
generally expressed that it had been
signal success.
The Soviet delegation adhered to
its promise to abstain from voting on
matters which it felt were contrary
to Communist doctrine, and thus per-
| mitted the unanimous acceptance OF
all resolutions presented today before
the sessions.
VaIerian Obelinsky Ossinsky, the
Soviet delegate. at the last moment
took a shot at the League of Nations.
which had invited the Russians TO
| the conference. declaring that the
| Soviet representatives were unable to
subscribe to the program for future
League economic activities because
| they still considered the League IAN
instrument of capitalism and a cloak
Of imperialiSt nations for crushing
weaker nations"
Principles Not Renounced.
NJ. Ossinsky declared that the adher.
| ence of the Soviet delegates to the
resolution, approved by the conference.
| that nations should collaborate eco
| nomically irrespective Of their eco
nomic systems. did not imply that the
Soviet renounced any of its funda.
mental principles.
| Undoubtedly the United States, and
possibly also Russia, will be invited to
be represented on the permanent
League economic committee, which
| will be reorganized and enlarged so
as better to carry on the program OF
economic reform outlined by the con.
| ference.
The conference recommended to the
League council that the best way TO
| perpetuate it's work was to reconsti-
tute it's economic committee along the
| lines of the special committee which
| prepared the present conference. This
would mean that the United States,
Russia and also world labor and agri-
cultural groups would be asked to ap-
point delegates to the new organism.
| Commenting on the results Of the
conference Henry M. Robinson and
Norman II. Davis. American dele
gates, expressed the opinion that con-
ditions in Europe were not so bad as
| they have been painted, that they
have been improving steadily, but that
the resolutions adopted by the confer
ence have given new impetus to
amelioration of conditions.
They thought that never has there
been an international conference with
SO few sweeping projects Of reform
that could not be realized, anC be-
lieved that the businesslike methods
and results were due to the fact that
h. l41A npfc nd
did not represent their governments
| officially.
| See Assistance i'm Results.
I They concluded that the results Of
| he conference will be helpful guide
for the various governments in the
elaboration of new legislation and in
matters requiring concerted interna-
| tional action.
At the closing of the conference.
President Theunis expressed the opin-
ion that the code adopted by the ses-
sions would influence profoundly the
worlds economic policy. Chief among
| it's achievements. he said, was the
conclusion that the time had come to
| check the increase in customs. tariffs,
and to make an effort, ~ for indi-
vidual action by various states with
regard to their own tariffs, (2) for
| bilateral action through the framing
of commercial treaties. and (3) for col
lective action through the League of
Nations to encourage extension of in
| ternational trade on an equitable basis
| by removing or lowering barriers TO
international exchange created by ex
cessive tariffs.
Tariffs international.
He emphasized the belief that tariffs
no longer were considered exclusively
in the domain of national sovereignty.
but as falling within the scope of prob
lens on which international action
was possible and desirable.
One of the acts of the conference
was the adoption of a preamble to the
economic doctrine, which had been
accepted previously, which sketched
conditions which 1t is hoped this doc
trine will improve.
This preamble emphasized abnormal
unemployment as the most distressing
symptom of the economic difficulties of
Europe. which result also from bur-
densome taxation. Inadequate savings
and similar conditions, which, by re.
percussion. affect the rest of the
world.
Referring to the effects of the war.
the preamble says: "The belligerent
countries of Europe have been left
with financial burdens which will take
many decades to liquidate. Not only
is there In many countries a heavy
annual charge on war debts. but the
necessity of finding funds for war pen
sions. Moreover, armaments are still
heavy burden on the finances of
the nations