Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-06
GOOD Of MEETING
/. HERE QUESTIONED
English Delegate Doubts Ben
efitS of World Chamber of
; Commerce Session.
By JOHN r. SINCLAIR.


Formal speeches are one thing-but
comments behind the scenes are some
thing else. Listening to speeches. one
may not realize the other side OF the
arguments, yet there we're plenty of both
speeches and comments at the Inter-
national Chamber of Commerce meet
ing here yesterday.
soc~etary Melons short statement
-xza,s a select group of world Leaders
in which he said the troubles OF the
world cannot "be cured by any quick
and-easy method, or at some one else
EXPENSE" was interpreted to spike orn-
cially any proposals looking for debt
cancellation. No mention, however, was
made directly of the worlds war debts
by the Secretary. But every one pres
ent at the little gathering clearly UNDER
stood its meaning.
But why attend a world convention
when the principal subjects, Sucn as d;
war debts and tariffs, are taoooeo!
asked one English delegate. Why call
such a conference as this at alp"
But war debts and tariffs are Delng
ed-considerably Alberto Pirelli,
rubber goods king of Italy, questions
Americas attitude on both war oeoIs
and high tariffs. So does Sir Allen y
Anderson, English shipping inoustrlaI-
4st and a director of the Bank OF Eng
land. ,,.,,,o,, 10
So does Julius Barnes, chairman OF
the hoard of the United States Cham-
her of Commerce, who, In replyH1g-Co
Senator Watson of Indiana, IT was I'M
derstood-declared that organized ouSl-
ness "for years has urged that tne
tariff be treated as an economic GIL"
"Pusiness as represented In the
Chamber of Commerce OF the OnlCeo
states wants all tariff adjustments
made with due regard for our loreleh
trade Mr.. Barnes has in mind Amer
lean living standards and wages; ne ne
also said that the machinery OF Ine
present tariff act is sufficient to correct
NV abuses now existing. His reliance
On the act largely centers IN the
1exible clauses of the tariff, which pro,
vide a clearly defined channel, LOT al
narties in interest" to be heard.
"within five years the world VIII
\. eniovinp free trade" said Sir
George Paisch. British economist ana
one-time financial adviser to the BTU.
isb treasury THE agitation Will not
come from the top-it will be forced
on governments and business INTERESTS
from the people themselves-ny popuial
demand. You may think tnls sCa nt..
went extreme hope to see you nVe
.,nore from now and then we can COM
WITH these words, this famous Brit
,sh economist summed up his IDEAS Oh
the nresent and the immediate luIuIe.
He predicted a year before the gIea'
crash of 1929 that a WORLDWIDE oe.
,ression of chaotic severity Woulo Set
in within two years: he was ls 81
fective corporation by all natlons
rnnst be undertaken If the world Is 70
he saved from bankruptcy and compete
disaster He has been called the propnet
~ disaster. He sees the world now, not
IN the edge of the precipice, but over
the precipice, falling at an incIeaSo
ing speed, and nothing In slght "
change 1t. .o,oo o,,t
~ this conference?" ! asked MIN. NJ
oe.itated moment. for he is frankly
disannointed with the results so lar.
"htr,osnhere was the answer, WHICH
NAV be the British way OF saying not
air.
IAN Won have to do is to go back
to first principles in this matter OF
world business" continued TINS lrlenoiy
TsTitisher. Europe, as well as America,
3e nrinnarilv an industrial continent. II
relies on a free play OF goods from one
country to another. Obviously, no ma
tion can sell goods to other natlons III
definitely without buying approxiimatteiIy
S,,ara The other. The old economic
Law that world trade was carried on Dy
oycbanoe of goods and the difference
was paid for gold or credit Is SUN soou
"Pmt what's happened? Tariff bar
riers have been put up by nearly every
nation to obstruct the Tree no" "a
goods from one nation 10 anotneI an ~
Told is so concentrated in the haIlus %
3ust two nations-the United States ano
France-that trade is dying down
.rhere Is no means of carrying IL on
rrariA walls and lack Of gold 10 MAKE
settlements have killed the goose tna'
laid the golden egg" said Sir George.
$50 far as world trade is concerned
tt's a fantastic. impossible; lntoleIaD ~
situation in which we are all piaceo. -
cannot last much longer. A free ano
omen exchange of goods among nations
and a realignment Of gold reserves are
the next steps that must be taken 70
bring the world back TO SANITY ana iaVei
to prosperity" he concluded.
mr. Edward Hamm, former German
minister. disagreed with the current
Thought that overproductdon Is the
cause OF the business trouble today. IL
lack of purchasing power that's largely
the cause of the dificulty, he thinks.
For the point OF saturation has no
been reached. either for goods or lol
neonle, nor is It likely to be reachec
Tor wears to come" he said.
people don't refuse 10 buy because
they do not need the goods nor because
thev do not want them; but becaus'
they cannot afford to pay for them
he concluded. Many people cannot buy
because the goods they themselves pro-
duce are barred by other economic sys'
TENS" =.
So this German leader suggests frst
that the capital be fed into those places
where purchasing power is at the low
est. and, second. that creditors accep'
either goods or services in return Tor tht
capital so extended.
Cooperation in these two respects Il
the urgent need for mankind today" re
said.
An excellent summary.
: CCopyriSht 1881, By the North American
! Newspaper Alliance