Evening star., 1933-07-05
Americans Will
Support Plan
to End Work.
HULL GETS CALL
BY ROOSEVELT
New Proposal Held
Too Late to Save
Conference.

LONDON, July S CP.-The World
Economic Conference will virtually
be wound up tomorrow, according
to highest authorities, barring some
eleventh hour development.
BY the Associated Press
LONDON, July 5.-The creation
of an international dollar for use
as measuring rod during the
period of fluctuating exchanges
preceding stabilization was under
stood in American quarters today
to have been suggested by Presi-
dent Roosevelt in his instructions
to Secretary of State Hull regard
ing the future of the World Eco
nomic Conference
The United States delegation
now favors recess of the confer
ence, an American spokesman
stated.
This announcement was made
after a meeting of Secretary Hull,
Assistant Secretary of State Moley
and Senator Pittman with Ramsay
Macdonald, British prime minis
ter and chairman of the parley,
and some other conference leaders.
Committees to Stand.
1t was expected that the Steering
Committee meeting tomorrow will rec
ommend recess of the conclave to the
plenary session.
At the same time it was said COM
mittees will be left to carry on technical
work, possibly at Geneva.
The monetary measuring rod which
the American President was said to
have proposed could be called a dollar
or by any other name which nations
preferred and it would serve to assist
business and foster the work Of the
conference until the dollar and the
pound could again be fixed In value, 1t
was said.
This proposal, 1t was explained, was
Mr.. Roosevelt's answer to Europes
criticism that it is impossible for the
international gathering to continue It's
work while the dollar was unstable.
The idea Of the international dollar
was advanced as suggestion and did
not necessarily mean creation OF an
international currency for circulation, 1t
was said in American quarters.
Can't Save Conference.
In high conference quarters the
opinion was expressed that this sug-
gestion was not sufficient to save the
conclave at this late hour.
A statement designed to clarity the
American position was shown by Mr..
Hull to Chairman Macdonald late to-
day with Senator Pittman and men,
bers of the British delegation.
After the meeting no announcement
of its results was issued except that a
statement would be issued tonight
through the League of Nations secre-
tariat which forms the staff for the
parley.
1t was understood that the statement
which Mr. Hull showed to the confer
ence chairman does not mention recess
of the conference. but makes it clear
that the United States does not intend
to be saddled with the whole blame for
adjournment
1t was believed that the statement
points out that the American position
on stabilization is somewhat similar to
that of the British, and calls attention
to the statement yesterday in the House
OF Commons by government spokes-
man who said:
Although a return to the gold stand
ard might be our ultimate objective
when the proper conditions are assured,
We must preserve complete liberty to
choose our own time and parity"
Turns to Other Subjects.
The Presidents instructions as re-
ceived up to early afternoon were de-
scribed as endeavoring to concentrate
thought upon what it is possible for the
conference to accomplish now with a
view to taking up the restoration of
monetary stability at such time as at
tainment of the United States infla-
tionary objectives will permit.
The President is described as drawing
a sharp distinction between what could
be done at the moment and more per-
manent action later.
From an authoritative French quarter
this afternoon came an indication that
Europe was awaiting some kind words
from President Roosevelt to show he
comprehends the problems on this side
of the water
This authority added that the gold
bloc had by courtesy remained in Lon
don Is days after it was apparent Mr.
Roosevelt would not stabilize the dollar
at present. What are characterized as
the harsh words" Of the Presidents
message resulted in a decision by the
gold bloc to go home, it was said, but
soft words with tendency to calm
European opinion might change the
atmosphere from dismay to understand
ing.
This quarter reiterated that the gold
bloc is firmly decided to quit the par
ley, but Is willing to leave few ex-
perts to work on minor economic prob
lens.
Opposed to Adjournment.
From Secretary of State Cordell Hull
came the only comment from the
United States representatives.
We are firmly opposed to adjourn
ment," he said briefly, land in that
connection we have had q communica-
ton from Washington"
Opponents Of the American policy
nursed their undisguised wrath and
insisted nothing was expected from
Washington which would alter the
situation in the slightest.
They declared the conference Is al
ready dead, and the funeral will be
tomorrow when the Steering Committee
will meet.
Nearly everybody connected with the
conference agreed the best that could
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