Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-09


Sees End Of War Debts.
do you think America is powerless
to help In Stabilizing foreign condi-
tions?" asked. IF I remember cor
rectly you have always maintained that
allied debts and PREPARATIONS are a key
factor that can make or destroy world
prosperity"
THAT is right" he replied. IT haven't
changed at all America can give the
lead. There is one very bright spot In
the whole current situation, namely,
that public opinion on this question
has been aroused by the Hoover pro-
poSalS more than at any time since the
war debt existed. That is, important.
Give us somewhat longer period
OF. depression and / would not be sur
prised to see Congress feel itself def
nitely turning toward cancellation of the
war debts. AT least modification seems
definite prospect The beginning of
the end of war debts and Preparations
Is In sight. To my mind, this is much
more important than anything like a
mooincation OF the prohibition act or
other ridiculous things which have been
T.imored Is being in Mr.. Hoover's bag
You would, then, leave the domestic
situation largely alone?" was the next
question.
Mostly" Mr.. Moody said. Certain
W would leave highly controversial
subjects alone at this time. Prohibi-
ton IS one Of those subjects and see
no use IN adding fuel to make the
political pot boil OF course. tariff
revision viii be discussed ct the next
congress, and rates may be put down
70 some slight extent. Personally, I
WISH the country were agreed on this
-
lower tariff. But II discussion of this
subject Is going to lead to acrimoni-
ous debate in Congress, then It had
better be left alone.
Political Questions Harmful.
You know" he continued. III gov
ernments throughout the world were
Wen WITHIN bounds on expenditures and
II tney could only take a strong. con-
Seryatiye position, so that CONFIDENCE
everywhere would be generated in them.
the world would recover much faster
Political questions which rouse so much
feeling are very harmful at this time
What about RuSsia?" I asked.
Everybody is talking wildly about
Russia. What is your view?"
Il don't see very much to fear in
Russia" Mr.. Moody replied. I'VE will
have to worry about their dumping of
certain raw materials for some time
to come. The Russian situation doesn't
benefit the agricultural position of the
United States at all. Yet progress in
Russia can only mean one thing: that
Is, increased imports by Russia from the
rest Of the world, and this country viii
get its share. can't conceive of
Russia becoming q competitor In
finished goods for q great many years
and by the time that happens Russia
win be seni-capitalistic, while on the
other hand, we viii have adopted some
Russian ideas, such as economic plan
ming, so that the same antagonisn
toward that country won't exist"
You are not very happy about the
immediate outlook. apparently"
mo, I don't feel very optimistic for
the immediate future" replied Mr..
Moody, "but have no fear about the
ultimate outcome and think the world
is learning q great lesson. We won't
recover rapidly, think. The process
will be slow No definite signs of
actual Improvement have yet appeared.
II happen to see you six months from
now / will probably have q brighter
picture to paint. In the meantime
you know what foreign conditions are
better than I do. but I would watch
them very carefully
(Copyrtght 1891. by the North American
Newspaper Alliance, lnc}