Evening star., 1933-06-26
EASIER DEBT LOAD
URCEDBY COUzENS
Senator Appeals to London
ParIey for Adjustment of
World Burden.
Continued From First Page.)

can be fixed and maintained, then ther
is greater likelihood of the Pittman res
| olution being adopted by the major ma
tions attending the conference. Ad
Pittman toward his goal by a huge
stride.
Hitch in Wheat Plan.
While the silver program has pro
gressed so favorably there still is s
hitch in the development of the Amer
lean plan for restriction of wheat pro-
duction. The United States delegation
is continuing its drive to obtain adher-
ence to what they consider to be one
of the most important schemes before
the conference
Conference leaders were understood
today to be predicting that the as
semblage would continue its labors un-
til at least the end of July.
The French quota truce proposal
which was introduced as an offset to
Secretary of State Cordell Hull's res
olution calling for complete abolition OF
trade barriers, was fiercely attacked in
subcommittee this morning by Hungary
and Poland. Germany and Albania also
registered opposition.
Would Include Agriculture.
The French scheme applies only to
industrial products, and both Poland
and Hungary insisted that they could
not accept any plan which did not in
clude agriculture. Germany advanced
the idea that large customs union
was preferable to any bilateral ar
rangements, so far as Europe was con-
cerned.
A subcommittee was appointed to
draft report dealing with both the
Hull resolution and the French resolu-
ton.
The Americans were greatly pleased
with today's silver development. The
unequivocal expression of willingness
to cooperate on silver made by Sir
George Shuster left only Canada among
the principal holding or producing
countries which had not yet spoken
Important American delegation quar-
tiers said they had no doubt the Domin-
ion would take constructive stand.
China and Mexico Willing.
China, which with India is a huge
holder of the metal, and Mexico. the
principal producer, have expressed
Willingness to agree to the stabiliZa-
tion program.
Today Senator Pittman called in rep
reSentatives Of Bolivia and Peru. which
produce considerable silver, and it was
understood they expressed willingness
TO adhere. Details of the anti-dumplns
agreement are yet to be worked out, but
a generally sympathetic attitude is re-
garded as real start.
We have taken the first hurdle and
l am greatly encouraged" Senator
Plttman said. Il think this great
of 66 nations is moving as
rapidly as can be expected"
While many countries, including at
least one of the components of the
British Empire, are asserting to the
Plttman silver program, Britain her
self Is yet to be reckoned with. There
was some speculation as to the eventual
attitude of the British. and it was ac-
knoWledged that their disapproval would
be setback for the American plan.
Discuss Gold Proposal.
simultaneously with the Silver Com
mittee's meeting there was a session of
the Monetary Subcommittee on the
gold aspect of the Pittman resolution
calling for the withdrawal of the metal
from internal circulation and reducing
the legal minimum of gold reserves
while retaining gold as the fundamental
measure of value. James M. Cox and
James P. Warburg represented the
American delegation
While the details Of the gold discus
sions were withheld, it was authorita-
lively learned that the delegates con-
sidered real progress was being made in
agreeing on fundamental principles, al
though considerable time was spent
over rephrasing of the wording of the
gold clause Of the resolution.
Monetary experts said that efforts to
work out a stable monetary standard,
as well as to agree upon common CEN
trail banking policies, had led the dele
cations of a number Of the smaller
countries not having central banking
systems, such as the Federal Reserve or
the Bank of England, to consider their
early establishment to take advantage
of agreements likely to be reached here.
Won't Abolish Exchange Restrictions.
Germany faced Is long-term creditors
across the table again today as DR..
Posse, director of the ministry of pub
lie economy, announced to the confer
ence that the Reich could not abolish
exchange restrictions.
The economist told the Subcommit-
tee on Commercial Policy that the con-
slant necessity Of defending the mark