Evening star., 1932-04-07
PEACE PROSPECTS
DECLARED GLOOMY
DR.. {. M. Patterson, Academy
of Science Head, Addresses
Economic Meeting.

THE race Is on between those eco
nomic influences that make for war
and those that help to assure peace" ;"
DR.. Ernest Minor Patterson of .Phila-
delphia, president of the American
Academy of Political and Social Sci
ence, declared last night at the in
augural meeting of the Academy of
World Economics here.
mo one can foresee the outcome, +"
of the world scene is not encouraging
to the lover of peace.
State dominance is gaining ground
not merely in Russia, but in varying
degrees in all other countries. In spite
of its claims to an international out
look. socialism seems by its very nature
to intensity national feeling. National
economies are unifying in opposition 10
each other.
ut is with such matters as these that
an academy of world economics must
deal. Even though its leaders and the
distinguished speakers who appear be-
fore it dissent from all the conclusions
of this paper, they will agree, at least,
in the view that students of world eco
nomics must undertake to find out what
AlldhCo lltC WO1A0 PAOoPCAOAo dA1AA INV
we can best prevent the recurrence of
such tragedies as war and economic
prostration."
Capacity Crowd at Meeting.
DR.. Patterson, who is dean of the
Wharton School of Finance of the Uni
versity of Pennsylvania, was the first
speaker before the newly organized
academy.
The meeting, held in the Brookings
Institution, 722 Jackson place, drew a
capacity crowd, which included men,
bers of the diplomatic corps, Repre-
sentatives and Senators, officials of
Government departments, representa-
tives of local universities and students.
DR. William F. NotZ, dean of the For
eign Service School of Georgetown Uni
versity, chairman of the board of di-
rectors of the academy, introduced DR..
Marc Peter, Minister of Switzerland,
who presided and introduced DR.. Pat
terson.
Despite present nationalistic tenden-
cies. DR.. Patterson declared, the trend
of the future probably will be toward
the development of world economy.
Suggests World Currency.
The speaker suggested the desirability
of a world currency to parallel but not
supplant national currencies. A form
of payment acceptable everywhere
would lessen strain and vastly simplify
business transactions, he said, adding
that there were imperfect approaches
to such a currency in the widespread
use of sterling drafts in pre-war days.
DR.. Patterson said there is too much
insistence on rights to the neglect OF
functions.
Preparations claims and other polit-
ical debts are viewed as rightful claims
even when insistence on their collection
helps to break down the free movement
of commerce" he declared. Alleged
rights to impose tariff duties and other
trade barriers likewise are obstacles to
the function of business.
Last Summer brought tragedies to
Europe and a prolongation of the world
depression. This Spring we face the
danger Of another and perhaps more
serious collapse with little as yet to en-
courage us in hoping it can be averted."
survey of the world panorama re-
veals first of all highly intricate and
very interdependent economic struc-
ture," Dr. Patterson said, ''the life of
to be in a condition of extreme de-
pendency.
Three Economic Phenomena.
"But in the world field we see depend
ence to an equal degree and at the
same time a rigid and harsh insistence
on rights"
There are three outstanding economic
phenomena in the world today. the
speaker asserted. These are depend
ence. a growth in number of political
states and the passing of laissez-faire. !"
Functions Of the numerous States
also are developing and becoming more
complicated, he said.
"The nationals of each State develop
more and more interests in common
and find themselves in many particu-
lars united In opposition to the nation
ais Of other States similarly unified.
The State is more than a political
myth. 1t is substantial economic or
ganization."
The Academy OF World Economies
was incorporated last January and the
incorporators elected to the board of
directors. They are DR. Notz, w. M.
w. Splawp. dean of the Graduate
School of American University; John
McDill Fox. dean Of the School Of
Law OF Catholic University; John DON
aldson, professor OF economies, George
washington University: Leo Pasvolsky
of the Brookings Institution and Wal
lace Mcclure assistant chief Of the
treaty division. Department Of State.