Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-04

sing the situation from the viewpoint
of Latin America, said that the eX-
ports of the southern republics to
United States and Europe had fallen
sharply with a corresponding fall in
their buying power The way in which
nations individually and generally
have met the world crisis, he said, has
been chiefly by frantic rush for legiS-
lative panacea@enacted in haste and
repented at leisure-in a mad policy of
devil take the hindmost'
Chile itself, he said. has attempted
to cope with the situation by balancing
her budget, but that national measures
OF this nature do not constitute a So
luton for the world problem.
Promotion of Spirit.
From this assembly there can Ger
tainly come forth no advice" he said,
but this assembly can be basic factor
in the promotion Of new spirit"
Ambassador Davila said that it is to
such business groups, rather than to
governments, that the world must look
for solution of its economic ills.
Other speakers this afternoon were
Jean Parmentier of France, former
member OF the first and second Com
mitteeS of Experts for Preparations and
director of the Credit Foncier de France,
who discussed the movement toward a
European economic union, and Ken
kichi Kagami Japanese shipping mag
nate, who discussed the silver problem
and its effects on the trade of the Far
East.
Interdependence Of Nations.
Kagami, saying that he proposed to
conflne his survey to the limited field
What hnY~ palo
tons with other countries in the Far
East, declared, however, that the ma
tons Of the whole world are interde-
pendent, and that universal tariff bar
riers contribute to disturbed economic
conditions.
mo country in this world can make
a consistent challenge against this tariff
problem, but there is no doubt whatever,
flow OF commodity imports constitute
stumbling blocks to any revival of the
worlds trade situation"
Is her relations with China, which
country, If properly developed and or
ganized," will contribute to the progress
and prosperity of the world.
Chlna's trouble lies in her silver
standard currency, with its violent
fuctuations," the speaker said, adding
that If ways and means can be found
for practical scheme of sterilization. !"
not only China, but all the countries
of the world will be helped
Preltminartes last night included Sc
lection by the organizations governing
body, the council, of Franz Mendelssohn
German, grandson of the famous COM
poser, as new president of the interna-
tional group. Mendelssohn, a private
banker, will address the congress by
radio from Germany Saturday.
The council decided to pass on to the
congress a resolution approved by its
Executive Committee for international
action toward sterilization of silver
values. Citing the adverse effect of the
fall OF silver prices on Chinese pur-
chasing power, it recommends "to all
the governments which hold stocks of
silver, or within the territories Of which
silver Is produced, or which can inf1u-
ence the price Of silver through their
monetary policies, to enter into imme-
date conversations with a view to
adopting, in consultation with the gov
eminent of China. the concerted or indi-
vidual measures which can be taken to
moderate huctuation and to maintain
silveri n future on as stable level as
may be possible"
AS the sessions got under way atten-
ton was directed toward the war debt
question, with the circulation of a sur
vey Of the present situation by the
Foreign Policy Association. An expec-
tation has been apparent in Washing
ton that foreign spokesman now might
take advantage of the opportunity to
advocate reduction or cancellation of
debt payments.
The Foreign Policy Association re-
port. prepared by Prof. James w. Angel
of Columbia University, said a long
continuance of worldwide business
dullness may force this country to re-
consider the whole debt question. What
views speakers at the meeting will take
was not known, but 1t was known the
Hoover administration at present has
no intention of altering the insistence
on the present agreements for payments
from abroad.