The Waterbury Democrat., 1931-07-10
NATIONS OF THE
WORLD TURNING
TOWARD COMBINE
Spirit of the League of Ma
tons Seems to Have Per-
meated Even Those OPP
posed to League
BY LOUIS F. KEEMLE
UNITED Press Cable EditOr)

New York, July 10-(UP)-The
most significant developments lead
ing towards real international CO.
operation since the League of Ma
tons was introduced to the world
took place in Europe this week.
Statesmen conferred and hurried
from capital to capital, each move
illustrating, in this universal period
of economic difficulty, the growing
contention that isolation is thing
of the past and the nations must
act together in the common good.
The goal, naturally, is far ahead,
| but it cannot be denied that real
progress was made.
| Paramount was the reaching in
Paris of an accord on President
Hoover's proposal for a years sus-
pension of inter?governme entail debt
payments, generally regarded as the
first constructive step towards lift
ing the world from the depths of
general depression.
1t was attained by Andrew w.
Mellon. secretary of the treasury,
and Walter E. Edge, the United
States ambassador to France, in
conference with French government
officials.
Mellon finished his work as finan-
citl agent of the United States and
retired to the Riviera. He was sue
| ceeded by Henry L. Stimson, the
American. secretary of state, who,
while primarily on a vacation, may
| he expected to take up where Mel
Ion left off and continue his work
| by promoting international disarm-
ament, regarded by President Hoov-
err as essential to relieving the eco
| l,I1rday, IF thu world
The disarmament problem Is
more political than financial, hence
it naturally falls within the sphere
Of Secretary Stimson. His first APP
pearance in Italy was hailed by a
decisive pronouncement of Premier
Mussolini, expressing Italy's eager
ness to disarm to the limit, provid-
ed other nations go as far.
The mutual turning of the nations
to oneanother in an hour of diff
Guilty has given strong hope to
| statesmen that real achievements
may be attained in the coming six
months, paving the way towards
arms reduction at the February
world conference at Geneva.
The American cabinet members
were not alone in the weeks busy
| international efforts. British, French,
German ana Italian OFFICIALS were
constantly at work, and the inter-
change of views was general. Eng
land did her part by arranging for
| the final working out of the Hoover
plan details by an early conference
in London.
Paris prepared for the coming
visit of Stimson and of the German
Curtius, the latter also planning to
officials, Chancellor Heinrich Bruen
| ing and Foreign Minister Julius
visit Rome. They are following up
their visit to England, which start
ed the direct exchanged views be-
tween important officials.
DIR Hans Luther, president of the
Reichbank, furthered matters by
making a meteoric trip to London
and Paris, seeking to bolster the
Reichtbank's credit and stave off
the critical situation threatened by
the heavy Withdrawals of foreign
credit from the Reichbank during
1.-THE last two weeks.
The markets of the world reacted
with hesitant and fiuctuating hope
to the progress being made. Ger
many appeared to be the key to the
international situation, and when
her credit is established, a general
feeling of optimism may be looked
for to replace the pissimism shown
by world financial interests in re-
cent weeks.