Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-09
DEBT EXAMINATION
IF WARRANTED" IS
C. OF C. CONCLUSION
Session Here ReaffirmS Its
Stand of 1923 in Rome,
Which Led to Dawes Plan.
BACKING GIVEN ARMS
DECLARATION OF HOOVER
Resolution Holds Tariff Obstacles
Opposed to National and
World Trade.

The International Chamber of Com
merce again today went on record as
favoring examination of the war debt
question 'if warranted by changed eco
nornic conditions" The chambers in
taking this action, reafirmed its posi-
ton at the Rome Congress in 1923,
which is credited with having led to the
Dawes plan.
The chamber also backed President
Hoover on his arms reduction declara-
ton made at the opening of the pres
ent Congress, and declared with regard
to tariff that every obstacle possible"
should be removed. In this connection,
1t made reference to the flexible provi-
sion of the American tariff by declaring
that 1.-THE machinery provided by some
countries for the adjustment OF tarlft
inequalities should be utilized without
delay
In the Rome conference of 1923 the
chamber laid down the principle that
"a proper factor in the adjustment OF
such (war) Indebtedness should be the
present and probable future ability of
each debtor" It added that lin de-
termining the ability of any debtor ma
ton to pay reasonable consideration
present and future earning capacity
that may be expected from sound
national budget together with the saw
fngs resulting from the reduction OF
excessive military expenses made pos
sible by the assurance of peoples con-
ditions."
Words Reaffirming Position.
In the resolution today the chamber
Ro0 fnnE0
international obligations have been
made definite In amount and in terms
as between nations. The integrity of
such obligations is always fundamental
to the maintenance of international
credit and to the expansion of COM
n1erce and industry, The observance
Of this essential principle. however, is
not inconsistent with an impartial ex-
animation of the effects of these obli-
cations on international trade, If war
ranted by changed economic conditions,
such examination to be based on the
principles laid down by the Interna-
tional Chamber of Commerce at its
congresses" In this connection Willis
H Booth New Fork banker, who sec
onded the resolution on behalf of the
American delegation. declared that the
Americans have never opposed the sug-
gestion that any nation should not feel
Tree 10 dSk a TS-SAAInl1dLlO OF .GneSS
debts on the basis OF the underlying
principles upon which they have been
settled.
With regard TO arms, the resolution
said: THE international chamber has
repeatedly emphasized the fact that war
Is the greatest barrier to social and
economic progress and the establish
ment Of higher Irving standards is de-
pendent primarily on the maintenance
- II. - i -.
efforts being made by the governments
Of the world to reduce arniaments to the
lowest possible limit, and urges not only
that there should be no relaxation of
this effort, but rather that 1t should be
doubled The attainment of this OBJ
tective would relieve the people of all
nations of heavy burdens of taxation. ="
Tariff Obstacles Opposed.
Regarding tariffs, the resolution said
that national and International trade
should BE- encouraged by the removal
Of every obstacle possible. Tariff
should not discriminate unfairly be-
tween nations Embargos should be
exercised only against dumping or
ether unfair practices. The machinery
provided by some countries for the ad-
tustment Of tariff inequalities should
be utilized without delay and all ma
JlOuS SIOuiO unite IN an eIIOEb VI re-
mcve all unjustifiable restrictions"
In his second TO the resolution.
Booth made II clear that 1t was the
flexible provision Of the American tariff
TO which II referred The machinery
Of the American tariff act is an i'm
portant step forward in adjusting in
equalities in the opinion Of the Ameri-
can delegation. he said
The resolution also called on the gov
ernments of the world to contemplate
every possible economy and avoid
burden Of taxation that will disturb
productive enterprise and add to I'M
employment. 1t also theoretically took
a stand against Government interven-
ton into business by airing that
private initiative and private operation
of business enterprise constitutes the
most effective instrument to insure the
progress Of industry and to increase
general prosperity"
In the preamble To its resolution the
chamber said that the present depres-
sion IS but a repetition of conditions
similar TO those with which the wcrld
has periodically 10 contend. but in this
time the situation is intensified by the
consequences Of the war.
Silver Conference Favored.
The Chamber Of Commerce went on
record today as favoring a world con-
ference to seek a solution to the prob
lem Of the low price Of silver.
The chamber adopted without debate
. resolution declaring a conference
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