Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-25

~ UT Of this severe economic de-
preston which ccnfounds
statesmen and financial ex-
~ perts throughout the world,
one thing. at least. emergeS
clear-the recognition by the leading
nations on earth that economic inter-
dependence is the predominating law
today. And the conclusion, therefore,
that international cooperation is the
only way left out Of these embarrassing
and trying times.
This is the only virtue Of the 1880 de-
pression-it has opened the eyes OF the
worlds statesmen and taught them the
value of cooperative efforts. Perhaps
this is a lesson worthwhile the rigors
and bitterness of the crisis.
The combined action Of the United
States. Great Britain and France to
save Germany from collapse. the as
sistance given by the United States and
France TO help Great Britain; the con-
ferences Of European and United States
government officials in London, Paris,
Berlin. Rome, and now the visits OF
Premier Laval of France. and Minister
of Foreign Affairs Grand Of Italy. and
the forthcoming one OF Chancellor
Bruening of Germany are outstanding
examples of that spirit OF cooperation
which, in the last few months, seems 70
have opened new era IN international
relations.
Felt in Latin America.
In Latin America too. although eco
nomic interests are not so interviewer
among the various countries as they are
in Europe the movement for co-opera
ton in these times Of distress Is rapidly
gaining the support OF governments
and. particularly. of commercial ele-
ments throughout the continent.
Ofhcially. only one formal move was
recorded. when the minister OF foreign
affairs of Chile suggested an nterna-
tional conference to discuss the posi-
bllity of customs unions among tnt
Latin American nations. Ana TINS, IN
fortunately. did not materlallze Que tc
political complications in Chile. where
the government sponsoring the idea
was oyerthrown.
But unofiicially. in banking, industrial
and con- mercial circles, the Latin amer
leans also. are more and more turning
70 cooperation as the only cure foI
their economic Ills
Two recent happenings come to cor
rcborate this impression. one Is me
calling of a conference OF bankers tc
meet in Lima, the capital Of Peru. Al
The suggestion Of me Bolivian Contra
Bank. representatives from the central
banks OF Chile, Peru. Ecuador and
Bolivia will discuss the financial din
culties Of those South American states
and try to devise the means to relieve
them through co-ordinated action.
The other instance is the resolution
unanimously approved by the Pan.
Am erican Commercial Conference which
gathered in washington three week:
ego to organize Immediately CONT
mental chamber of commerce or fed
Grafton of commercial associations-tht
name does not matter-representing the
economic interests of all the American
countries.
Held Most Important.
In commenting upon the conclusions
arrived at by the Pan American Con-
ference I said, few days ago, that thi;
was the most far reaching and i'm
portant. Because it calls for the estab-
iishment of q permanent technical or.
ganization, deprived of any ofncia
character, which shall endeaVor to har-
mcnize and unity the efforts Of all the