The Washington times., 1931-05-07
COTTON ALSO
LOST, SAYS
SPEAKER
Diversification of Crops Sug-
gested as Remedy for Ills;
Session in Final Stages
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tai, and international protection
of industrial property.
The high light Of the plenary
session probably was Prof. Rus.
sells discussion Of the Russian
question as it affects the farmers
Of the world.
DenOunces Tariff Walls
He declared Russia would likely
force q reaIignment in the worlds
food crops, blamed under-cOn.
sumption equally with Over-prO-
ductiOn for causing the present
agricultural distress, denounced
tariff walls as prOlOnging all de-
preston, and pleaded for closer
commercial unity between nations
and a readjustment Of agricul-
turaI production everywhere to
meet existing needs.
He conceded America would ex-
port "some wheat" in the future
but warned that American farm
ers could no longer rely on the
wheat export trade. He also said
America could no longer expect
to regain the worlds dairy trade
and also predicted the United
States would lose much OF its
world cotton trade.
DiVersificatiOn Is Urged
Both wheat and cotton farm
erS in this country will have to
diversity their crops, he asserted.
He called on the Southern cot
ton and Midwestern wheat belts
to heed this warning.
A report by DR.. Bernhard
Dernburg, former finance min
lister Of Germany, brought up
the subject of international
debts. He saw the concentration
of gold in France and the United
States as a cause of world de-
preston, since other nations were
being forced to turn toward pay
ment of their debts in commod1-
ties, due to the local shortages
of gold. He renewed the appeal
for a reduction Of war debts.
Offers His Solution
AS a solution for solving the
international debt problems, DR..
Dernburg suggested three possible
measures:
81. Making possible increased
exports of goods from debtor
countries, by The suppression OF
barriers now hampering such
exports.
''2. Exports of credits to parts
Of the economic world where
new investment possibilities
exist.
"3. Decrease in the nominal
amount of international debt
y. obligations, hence, as the needs
Of private business cannot be
suppressed without affecting
world economy, a reduction Of
political debts"
The Importance of considering
Russia in evolving any plan for
stabilizing agriculture was en-
phasized by Alfred Falter, head
of the Polish delegation. He
said RusSia's planned economic
and agricultural activity made it
impossible to check the present
crisis, $50 long as the world re-
mains in it's present disordered
condition"
Must Consider Russia
ra also insisted Russia would
have to be considered in any So
luton Of either the industrial or
the agricultural problem, declar-
ing:
'It appears that the agricuI-
tural OverprOductiOn cannot be
under present conditions COM
penSated by an increase in con-
sumption. The scale Of the
production should be, therefore,
reduced, and its development
regulated by the slow growth
Of the population. To adapt the
production to the consumption
Is the only means to master the
crisis in every field of economic
activity-and in agriculture es-
peciaIly, as well.
'Tt is obvious the worldwide
agricultural crisis may only be
solved by international means
based on q worldwide scale.
Special European conferences
could certainly endeavOr to
clear up the situation in Eu.
rope. Any scheme of wider &C
tion would require q previous
understanding with the most
important agricultural States
outside Of Europe. Such an
understanding is only possible
now because as a result Of the
Rome conference we now have
the possibility to cooperate
with the oversee exporters and
reach underworld agreements
with practical results"
Falter suggested a worldwide
economic agreement, adapting
national production to consump-
tion and a sterilization of mar
kets.