Evening star., 1933-06-22
j. s. ASKS REMOVAL.
of TRADE BARRIERS.
Americans Break Monetary
Impasse by Statement
on Sterilization.
Continued From First Page.)

had been saved from foundering on the
rocks Of sterilization as the result OF
an agreement by American and French
representatives to postpone discussion
of the stabilization question until later.
Prime Minister Ramsay Macdonald,
president of the conference, who has
been working night and day to save the
parley from collapse. was jubilant when
the news was rushed to him.
The Franco American agreement was
reached at a meeting attended by
James NJ Cox, American delegate;
James P. Warburg. American technical
expert; and Finance Minister Georges
Bonnet Of France.
The stroke of master diplomacy In
effecting the Franco.American ap-
prochment was described as having been
accomplished when Mr.. Cox cast aside
all traditional diplomatic tactics and
laid his cards on the table regarding
the American position.
The French, who were severely burned
in the postwar imitation. are said to
have been completely lacking in COM
prehension of the American internal
program and It's definite objectives
They were fearful that the United
States was on the road to wild infla-
ton which would have world wide re-
percussions Mr. Cox and Mr.. Warburg
put them right on this matter.
French Ready to Quit.
That the French had been willing to
quit the conference over the stabiliza-
ton issue was authoritatively confirmed
With the parley apparently safely
through this major crisis, both the
Americans and the British expressed
highest hopes OF real accomplishment
The issuance Of the American stabili-
Zation statement followed receipt OF
fresh instructions yesterday from Wash
ington and repeated meetings last night
and today in which the delegation
cheerfully considered the wording of
the declaration.
The announcement was interpreted
here as meaning definitely that the
United States has chosen for the pres
ent to continue the avowed policy Of
letting the dollar find its own level"
The Hull resolution calling for the
removal of trade restrictions was re-
garded as striking vigorously at the
French quota system.
While the American delegation recog-
nizes that any sudden and general re-
duction of tariffs is impracticable. its
pItStIltdLlOIl Ol Tie TeSOIuLlOu Is TeSdTU-
ed as a decisive movement against dis
criminatory or severely restricted COM
mercial policies.
Hits at Quota First.
The first specific section of the reso-
luton calls for the elimination as quick
ly as possible Of quotas and arbitrary
restrictions. The quota was initiated by
France and has been widely copied.
Under this system France may an
nounce for this year that 1t will admit
say. only so per cent Of the imports
of certain product in comparison to
to the volume admitted In recent years
This differs radically from the Amer
ican tariff system, which imposes no
limitation of the amount of goods
which may come in after payment OF
duties at the frontiers. Such absolute
American prohibitions on imports as
exist are based on reasons of sanitation
and public health.
After attacking arbitrary restrictions
the resolution next urges the reduction
of tariff barriers Ito the point where
trade can once more move in free and
normal manner" This is to be accom-
plished either through bilateral agree
ments, which are agreements between
two countries, or by multilateral agree
ments, which are among several coun-
tries.