The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-12-30
Economic Depression Bound to
Leave Its Mark on History
Of Period
PLAN FOUR MAJOR EVENT
Disarmament, War Debts and
Economic ParIeys and Trial
of League Loom
BY MILTON BRoNNEB

The fourth year In an era Of world
wide depression and unrest, 1888
dawns as year Of tremendous po-
tentialities in world history in which
economic considerations viii dictate
the political courses Of nations.
Four major events, three Of which
are designed to aid In economic re-
covery, are on the calendar. They
are:
World Economic and Monetary Con-
ference, due to be held in London.
Statesmen from many nations will
discuss the sterilization of exchange,
the lowering Of trade barriers and
other mutual attempts to bring about
Improvement.
Disarmament Conference, by repre-
sentatives Of 60 nations meeting under
League of Nations auspices at Geneva.
Though last summers sessions proved
barren of real results, higher hopes
are held now in view of suggestions
for trading arms reduction for war
debt revision or other economic con-
siderationS.
War Debt Revision Conferences,
probably to be held at Washington.
General economic conditions, plus
Germany's refusal to pay any more
PREPARATIONS, have led many to believe
that the United States must reduce
war debts owed by European nations
as step toward, world recovery.
League of Nations on Trial, as the
result of Japan's defiance by its seiz-
ure of Chinese Manchuria and estab-
lishment of the dummy republic" OF
Manchoukuo there. Whether the
league can compel observance of SOL
emn treaties is the issue.
Economic, disarmament and war
debt conferences doubtless will not be
held until after President-elect Roose-
Welt takes office, since his policies will
govern the United States course with
regard to each.
A resume Of important world news
in 1882, including many developments
which led up to this program for
1888, follows.
JAPAN AND CHINA
Determined to smash a costly Chi
nese boycott resulting from Japans
conquests in Manchuria (Which start
ed in September, 1881 the japanese
began bombardment OF Shanghai on
Jan. %, in defiance of world opinion.
Weeks of fierce fighting were ended
by q truce on May 4, which promised
abandonment Of the boycott.
Japanese military leaders on Feb.
% set up the dummy republic" OF
Manchoukuo in China's richest agrt-
cultural and mineral area. On Sept.
20, Japan formally recognized Man
choukuo as an independent republic"
No other nation has done 50.
After months Of investigation
League of Nations committee, headed
by Lord Lytton of England, returned
a report indicting Japan for agrees
sion, recommended 1t disgorge Man
choukuo. Japan, claiming the inva-
sion was defensive move, threatens
to resign from the league.
Japanese militarists are in complete
control, series Of assassinations OF
their political enemies having reduced
the government to mere tool OF the
army.
BRITISH EMPIRE
With the pound at lowest levels IN
modern history, trade at low ebb, un-
employment widespread, the dole q
staggering burden and trouble at
home and abroad, the British empire
experienced q trying 1882. Neverthe-
less, it paid its $s5y000. 900 war debt
instalment to the United States on
Dec. is.
In February. Eamonn de Valera won
the Irish Free State presidency on
platform opposed to oath Of allegiance
to the crown and favoring retention
of $lOOOO,O00 Irish land rentals paid
yearly to English landlords. When
Ireland withheld annuities. England
retaliated with q 20 per cent import
duty.
On April 5, O mob Of 10000 jobless
rioted in st. Johns, Newfoundland.
and damaged government buildings.
On Oct. IL, 10000 rioted In Belfast.
footing food stores. On Nov. l. 10000
hunger marchers" battled London po-