The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-07-07
M. E.TracySays:

| A VERAGE people no longer can follow the
L n London folly; it has become too confused
and chaotic. The delegates themselves are at
sea. Nothing like a program remains. The best
that can be hoped for is some kind of COM
| promise which will save the conference idea
even if it does not mean very much.
Sterilization is the rock on which the parley
cracked. All governments represented are for
sterilization in principle, but when it comes to
practice each wants the kind of sterilization
that will guarantee its present prospective ad-
vantages No government is willing to surren-
der its right Of money control
The right of money control has assumed a
new Importance in this age of debt, specula-
ton, and trade rivalry. Through it, govern
ments not only are whiting down their obliga-
tons, and undermining one another's industrial
system.
The arbitrary depreciation of currencies has
become a definite factor of international COM
merce. Governments are making use of it
to protect and promote trade on the one hand
and to break down competition on the other.
If anything, it is proving more effective than
tariffs.
DOLITICAL internationalsm is giving way to
l. economic nationaliSm, with industrial OBJ
| jectives dlsplacing he idealism of statecraft.
| The movement for industrial control which is
sweeping so many countries only accentuates
this paradoxical tide in human affairs.
People throughout the world are looking to
their respective governments to protect them
against the ravages of depression. That is re-
juvenating the defensive complex. On every
hand the national government is coming to be
regarded the one agency which can safeguard
people against the threat of industrial con-
quest
This may not mean war in the sense of pow
der and bullets, but it is war in the sense that
people are modified to combat one another on
national basis The stress and strain Of econ
onlicS are driving us back to nationalisn
The more we expect from our governments
whether internally or externally. the more
vigorously they must act to satisfy our demands
INDUSTRIAL control at Moscow Berlin, Wash
ington. Rome, and other capitals means only
sterner mobilization of man power and re-
sources on strictly national basis Disciplined
action under governmental supervision is the
same thing whether intended to produce armed
or industrial strength on national basis, and
will have the same effect on international re-
lations.
The futile efforts to stabilize fifty kinds of cur
rencies, many of which have been unstabilized
deliberately to further selfish interests throws
clear light on the problem We face.
If We were in a mood for real sterilization,
we would be talking about a common currency
under international control We dismiss the
thought of such a currency as impractical, just
as we dismiss the thought Of a common language.
1t would involve too many changes upset too
many traditions, and require too many con-
cessions. In this, as in everything else we want
the advantages of internationaliSm, without CIV
ing up those of nationalism-a happy family of
nations without a common language stabilized
values. without a common currency: peace
without disarmament; law and order, without
authoritative courts or an International police
force