The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-14
UNITED UNSELFISH WORLD DRIVE
TO END DEPRESSION URGED BY
HULL IN LONDON FARLEY SPEECH
Bar Economic NationaliSm,
Rae Trade Barriers, Is
Secretary'S Plea.
U. S. HELP IS PLEDGED
Warning Sounded Against
Obstruction of Program
by GraSping Nations.
BY HARRY FLORY
United Press STAFF Correspondent

LONDON, June 14.-The
United States called on the
world today to Danish eco
nomic nationalism, break
down trade barriers, establish
a sane monetary system, and
pull together to end the
tragic burden depressing all
nations.
Secretary of State Cordel Hull
faced an expectant and receptive
international audience at the world
economic conference and offered his
country's whole-hearted co-opera-
ton to end economic war. He asked
the conference to create will and
a determination" to follow such
course. Definite plans would come
later.
While he spoke, Washington and
London were arranging what was
tory compromise on the troublesome
British war debt problem. Hull
pointedly ignored the injection of
the debt issue into the conference
by previous speakers.
Warns Against Obstruction
He warned the conference against
selfish obstruction by any nation of
its work, asserting that any nation
which did so would merit the exc
Grafton of mankind"
His speech, earnestly delivered.
was received with enthusiasm by
the delegates.
Hull said the conference must face
the "vexed problem" of a permanent
monetary standard, lay down the
proper function of gold and silver,
and remove exchange restrictions.
The American delegation is pre-
pared to offer concrete suggestions
on those problems, although it did
not do so today.
HulIs clear-cut expression
against isolation and economic ma
tionalism created good impression,
removing fear that the United
States might retreat into isola ton
ism. They stirred the delegates
deeply.
Hits at IsOlatiOnlsts
At one passage he said:
THE more extreme proponents of
these disastrous policies in opera
ton during the postwar period, in
a spirit of mistaken selfishness or
fear, have insisted
strenuously upon the very minimum
of economic contracts with other
nations.
Their slogan has been the tails
manic word prosperity and each
nation living by itself was to grow
rich and the people everywhere were
to wax fat and be clothed in purple
and fine linen. In their eyes, it was
unpatriotic not to buy homemade
goods, regardless of costs"
In assailing excessive tariff bar
riers he said:
In the making of tariffs, thought
was given only to the safeguarding
OF the home market, even to the
extent of protecting the more in
efficient individual business. inefi-
clent industries, and industries
clearly not juStifiable economically.
Hull Cheered Loudly
NO serious thought was given 10
the disposition of surplus produc-
ton through exchanges. The home
market was to be kpet separate from
the world market and prices bearing
no relation to those of other coun-
tries would be fixed arbitrarily
within each nation.
Has not the time come for
governments to cease erecting
trade barriers with their excuses.
rank determinations and hate
breeding reprisals and retaliations?"
Hull finished after speaking for
twenty-four minutes and the dele
gates cheered him loudly. 1t eener-
ally was conceded that the speech
had created an excellent atmos-
phere
After Hulls speech, the confer
ence was further stirred when
Maxim Litvinoff, Soviet foreign
commissar, announced with drama
tic effect that. given favorable credit
and export conditions, the Soviets
soon might place 81 900, 900 900 in
orders abroad in excess of their
planned foreign purchases.
Stirred by Soviet Address
The bespectacled Lityinoff, in
strongly accented English, declared
specifically that the Soviets in the
near future could absorb about
5000, 600, 900 worth of ferrous metals.
500, 000, 900 worth OF raw materials
for textile, leather, and rubber in
dustries, and $500, 900 worth Of
machinery, including railway equip
ment. He also cited his country's
readiness to purchase coffee.
Litvinof evidently referred to the
United States and others withhold
ing recognition of Moscow when ne
recalled in his speech that some
states have not effectuated the prin-
ciple of the international economic
conference of 1927. admitting the
peaceful CO. existence of the capital
ist and Socialist systems.
Then. aiming at Britain's anti
Soviet trade embargo, he cited coun-
tries which are reviving barriers,
which once had been removed.
against economic cooperation with
the Soviets.