Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-10
C. OF C. ADJ0URNS,
LINKING WAR DEBTS
AND ARMS BUDGETS
Continued From First Psge.l


To this was added: I'm determining
the ability of any debtor nation TO pay
reasonable consideration should be
given to the effect on its present and
future earning capacity that may be
expected from a sound national budget
together with the savings resulting from
the reduction of excessive military ex-
penseS made possible by the assurance
of peaceful conditions.
The expression on debts yesterday
was as follows:
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 the international
credit and to the expansion Of COM
merce and industry. The observance
of this essential principle, however, is
not Inconsistent with an impartial ex-
animation of the effect Of these obliga-
lions on international trade, II 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"
Expression Interpreted.
This was interpreted to mean that
any debtor nation seeking the support
national conference on debts, first would
have to establish to the satisfaction OF
the council Of the chamber that its
military expenditures were at the mini
mum.
Referring to ornaments, the resolu-
ton said:
"The international Chamber has re-
peatedly emphasized the fact that war
is the greatest barrier to social and eco
nomic progress and the establishment Of
higher living standards is dependent
primarily on the maintenance of peace.
The chamber commends the efforts
being made by the governments Of the
world to reduce ornaments to the low
est possible limit and urges not only
that there should be no relaxation of
this effort, but rather that it should be
redoubled. The attainment of this OBJ
jective would relieve the people of all
nations Of heavy burdens Of taxation. -
On tariff, 1t said: National and
international trade should be encour-
aged by the removal Of every obstacle
possible. Tariffs should not discriminate
unfairly between nations. Embargoes
should be exercised only against dump
ing or other unfair practices. The ma
ch1nery provided by some countries for
the adjustment of tariff inequalities
| all nations should unite in an effort
to remove all unjustiflable restrictions. I"
In his seconding speech on behalf OF
the American delegation, Booth referred
pointedly to the American tariff set up
in connection with this expression by
the congress.
In the last tariff act Of the United
States" he said, "a definite principle
Of tariffs was enunciated and provision
was made for machinery to adjust
tariff inequalities on that basis. This
method of adjusting inequalities, the
American delegation believes, is an i'm
portant step forward"
Booth also emphasized the Importance,
in the American viewpoint, of arms re-
duction.
The omnibus resolution, tnferentlally,
took q dig at government Intervention
in business, declaring that private
initiative and private operation Of bust
ness enterprise constitute the most
effective instrument to insure the
progress of industry and to increase
general prosperity"
1t also called for every possible
budgetary economy by governments and
declared the present depression Is only
a periodic ailment of the world in
tensified by the war.
Other Resolutions Outlined.
other resolutions adopted by the con-
gress covered some two-score phases OF
commercial activity.
In one case it reafdrmed its con-
viction as to the necessity of most
favored nation treaties, but added that
where regional exceptions are sought
each should be studied on its merits.
A case in issue is the proposed Austro-
German customs union, where the bene-
fits accruing to each Of the contracting
parties is sought to be confined TO those
countries.
Such regional agreements have been
held out as offering one solution OF
the multitude of tariff barriers en-
countered by the European nations in
their dealings with each other, and in
hearing on this point the resolution
states:
THE congress presumes that the aim
and existence of such agreements Will
not be the pursuit Of a policy OF ex-
clusion or Of an unjust deterioration
in regard to the commercial position
Of third parties, but an Improvement
in the international organization OF
world trade"
In another resolution the chamber
again calls the attention OF all govern
ments to the necessity Of concluding
such bilateral treaties as TO free trade
and industry from the ever-grow1ng
barriers of double taxation" and con
tingently points out to governments the
eficacy Of measures tending to avoid
double taxation that can be applied oy
means of internal legislation, With or
without international reciprocity.
The resolution offers as basis TOT
action a bill introduced in the House
at the last session Of Congress.
Federal Interference Hit.
Another resolution hit at Govern
nent interference with futures trading,
and considers that the futures eH-
changes themselves are best equipped
10 devise rules Of procedure which WILL
promote and protect the interests OF all
concerned" IL.
A resolution on unemployment criti-
cized "doles" without mentioning inns
plan OF aid in so many words, asserting
that measures OF unemployment re-
lief which are merely palliative 40 not
60 10 the root Of the evil"
Freer movement of capital Is onereo
as a relief measure, and efforts 10 pro-
mote stability Of employment also are
recommended for study.
Other resolutions favored:
Study Of the extension Of customs ia
cilities.
Uniform laws and bills Of lading to
facilitate commerce.
Closer contact between individual
branches Of world industry and trade,
Calling of a Joint conference TO study
the effects OF motor-rail competition,
with view TO coordination.
International conferences on agrfcul-
tural production and consumption. with
a view to studying conditions surround
ing this industry.
In his farewell address. NJ. Theunis
tcld his associates that 1t Is their duty
TO spread in our individual spheres OF
activity both the sound principles OF
world economic organization and the