Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-03
ECONOMIC OUTLOOK
CHEERS ST|MSON
Secretary, Back From En-.
rope, Says Debt Holiday
Paved Way for Peace.
BY the Associated Press.

~ the Associated Press.
NEW YORK. September 3.-Secretary
Of State Henry L. Stimson returned
from abroad today with an optimistic
prediction that q lasting structure OF
peace and economic prosperity will be
built on the foundation laid by Presi-
dent Hoover's debt moratorium and the
recent seven-power conference Ia Lon
don.
During his two-month stay in Europe
the Secretary Of State attended the
London Conference and held informal
conversations" with the prime ministers
of England, France. Germany and italy
Asked by newspaper men for his views
about the general financial situation
throughout the world. Stimson replied:
st thirlk there is now good reason to
believe that European statesmen. tax
ing advantage Of the respite granted by
Mr.. Hoover'S moratorium as well as the
recommendations OF the London Con-
ference, are beginning gradually TO lay
the foundations Of political good Will
upon which o lasting structure OF peace
and economic prosperity can finally be
rested"
Recent Events Appraised.
Reviewing the eventful happenings
in Europe during recent months. Secre-
tary of State Stimson continued:
1.-THE month which has elapsed since
the close Of the Seven Power Confer
ence In London has given US a chance
to begin to appraise the result Of that
conference and OF the various meetingl
which have preceded and have fol-
lowed it.
Prom the information which Ia.
come to me believe that Germany
has received q new spirit Of courage
cent plebiscite in Prussia; the fact that
on the day when the German banks
reopened the deposits exceeded the
Withdrawals, together with many other
similar indications, all point to more
hopeful conditions and spirit.
Even more encouraging have been
the meetings of the French and Ger
man ministers and the friendly and
oonciliatory spirit In which Prime
Minister Laval and Chancellor Bruen-
ing have begun to discuss the vital
political questions which divide their
countries.
he same Is true OF the meetings
which have been held between the
ministers of Germany and Britain ano
Of Germany and Italy. Such informa
meetings continue the most effective
method OF approaching and discussing
these political problems, and until they
are thus approached in such a spirit
any thorough economic rehabilitation
Of Central Europe is almost impossible
Debt Holiday Helpful.
eft was very evident In each Of the
countries visited that the spirit and
policy of the Presidents moratorium
was highly appreciated and was proving
helpful in many directions"
Stinason said his trip abroad fulfilled
his highest expectations"
He explained that when he sailed fol
Naples, June %, 1t was for the duaI
purpose of taking a rest and meeting
foreign ministers, whose posts were
similar to his.
IT did not at the time have any spe-
cial missions. I wished simply to &c,
acquainted with ministers Of foreign af.
fairs so that might talk informally
with them.
"I felt that would be helpful just as
1t is In business where one talks di-
rectly with person and comes to know
them rather than to attempt to decide
important questions through CORE
spondence.
Took Rest In Scotland.
Prom Naples I went 10 Rome and
then to Paris. had expected to 60 on
to Germany from Paris, but -eceived q
cable from President Hoover that he
wanted me to represent the United
States at the Seven-Power Conference
in London"
After the London Conference the Sec
rotary went to Berlin and then took a
three week rest in Scotland, where he
did "a little fishing and grouse shoot
ing"
Among the foreign leaders with whom
he had conversed during his stay
abroad. he said. were Minister of For
eign Affairs Grandi in Italy, BRAND and
Laval in Paris. Chancellor Bruening and
Curtius in Berlin. Prime Minister Mac
Donald and Henderson in London.
Before returning to Washington Sat-
urday he and Mrs. Stimson. who &C.
companied him to Europe, will rest at
their country home, at Huntington,
L. I.