Evening star., 1933-06-21
COL. HOUSE VISITS
PRESIDENTS BOAT
Problems Before London
Conference Believed Un-
der Discussion.
Continued From First Page.)

Bernard M. Baruch, now the unoficial
policy spokesman of Mr.. Roosevelt In
Washington, who had arranged to con-
fer in New York with the Assistant
Secretary today Moley also has been
in continuous touch with the American
delegation at London by cable.
Speculation in the meantime turned
on the motive behind yesterdays new
assertion by Dean Acheson, Under
secretary of the Treasury, that the ad
n1inistration did not see any reason
for quick stabilization.
Dollar Goes Lower.
Washington, conscious of Mr.. Roose-
velts desire to see the worlds major
currencies level off without artificial
support before the dollar is pegged
noted that the United States blocking
of stabilization has sent the dollar
tumbling lower in the world markets,
noted too fresh French alarm that the
dollar decline would force the franc
itself off the jealousy held gold stand
ard.
The effect of the Treasury declara-
tion was particularly pointed since the
CONSERVATION caused at the London
Conference by the Roosevelt veto OF the
first stabilization proposal had been
considerably allayed by the American
plan for revalorization Of world curren-
cies, which has been gaining many ad-
herents among the comforting nations.
The washington officials had no COM
ment to offer on the dollars move-in
fact, refused to discuss this or the
French gold situation-but they did
mention again that the United States
wants other objectives accomplished at
the World Conference before the sta
bilization question is solved. :.
Since France has 'insistently held
that fixing the fluctuating currencies
is necessary If the conference is to get
anywhere, there was no idea here that
the Treasory actually visualized indefl-
mite postponement OF that step, and
some American move was looked for to
answer the French proposals for ad-
journment of the parley."
Sees Smaller America"
Meanwhile, on Capitol Hill, Speaker
Rainey said that if the World Economic
Conference at London fails, we will
have to be smaller America"
During the last three months there
has been a great change in thought In
this country" he told newspaper men.
During the past three administra-
tions the American people were in
fiuenced to believe that America was
elf-sufficient and could live alone.
But within the past three months
people have decided that they want to
do international business.
"Industrialists who clamored for high
tariffs in this country now are clamor-
ing for reduction Of tariffs in foreign
countries
"One Of the primary purposes of the
= rnyfarnt1na ic tn obtain rad1lc-
ton in tariffs. If the conference at
London fails, we won't be able to do as
much foreign business as we would ike.
We would have to be smaller America
I would regret to see that.
Rainey said that without a lowering
of tariffs by all nations and the stabll-
zation of exchange, the world cannot
regain prosperity"
Prom some officials last night there
came the assertion that the attitude
of the numerous countries represented
at the conference should be given care
full consideration before any action was
taken on the French move toward ad-
Iournment.
Given Undue Importance.
These expressed the view that the
stabilization question had been gwen
undue importance by France and other
gold standard countries and that many
things could be accomplished in ad-
vance of an accord on this subject.
With this in mind, as well as the
disastrous affect upon public opinion,
which they believe would follow ad-
journment, they argued that the parley
could and should continue prohtably
without recess.
However, If it should become apparent
that a dominant proportion OF the ma
tions involved favored postponement
of the parley's work, the United States
delegation undoubtedly would acquiesce.