Evening star., 1933-04-30
PROSPERITY DRIVE
CARRIED FORWARD
Davis Proposes Sweeping
Tariff Truce-ParIey
Results Hailed.
(Continued From First Page.)


discernibie at the White House and
State Department an air of satisfaction
at what has been accomplished thus
far.
Close on the heels of Great Britain
and France, representatives of the re-
mainder of Europe's Big Four" arrive
next week. They come from Italy and
Germany. strongholds of Fascism and
present problems of diplomacy fully as
great as those involved thus far.
In his talks with Herriot, the Presi-
dent gave the impression of readiness
to join an agreement to consult with
fellow signatories of the Paris peace
pact in event of threat of war
The French also received the impress
sion that the United States would
abandon some of its traditional theories
OF neutrality to apply pressure upon a
vyolator of the peace pledge and would
favor international supervision of arma-
ments to see that any pledges to re-
duce them are kept.
French More Conciliatory.
While these indications of the ad-
ministration's foreign policy have led
France to adopt more conciliatory at
titude at the Geneva Disarmament Con-
ference. they have created compensa
tory problems with regard to Germany
and the other nations opposing the
status quo in European national
boundaries.
France and its allies, Poland and the
Little Entente" are the defenders OF
the status quo while Germany and
Italy would change the territorial pro-
visions of the Versailles treaty. The
type of individuals coming to represent
Germany and Italy indicate, however,
that political questions may be subordi-
mated to financial. They are Guido
Jung, Mussolinis finance minister, who
arrives at New York Tuesday with a
party of eight, and DR.. Hjalmar
Schacht, president of the Reichsbank,
due at New York Friday with two ex-
perts.
Also coming next week are repre-
sentatives of Mexico and Argentina.
Behind them are lined up Chinese,
japanese, Brazilian and Chilean states
men.
Manchuku0 Issue Faced.
The coming of the Orientals is ex-
pected to bring before the President
another perpleXing problem-that OF
Manchukuo and the operations OF Jap
anese troops in North China. There
have been indications from the Orient
that the japanese may seek American
recognition of Manchukuo, the state
which they erected in Manchuria, in
return for continued trade with that
territory.
The presidents main goal in every
instance, past and future, however, Is
to obtain the cooperation of his guests
in making the World Economic Confer
ence such a success that it will deliver
q death blow to the depression.
In discussing war debts, he has held
to his purpose of treating them as only
one ASPECT of the problem, yet he has
indicated a willingness to adjust pres
ent differences of opinion about them.
The debt issue is expected to come up
with Italy, as it did with Great Britain
and France, although the Italians en-
joy the most favorable settlement terms
of any debtor nation.
British Experts Still Here.
As the debt issue stands at present,
the United States is ready to receive
the June Is installments totallng
S144, 10000 in silver under price ar
rangement which theoretically mlgnt
reduce the payments by about 80 per
cent. In the French case, the queStlon
of payment of the $19000,000 defaulted
last December is expected to come up
shortly after Herriot'S arrival in France.
Upon its payment depends the action
which the administration might take
toward granting debt concessions.
With the British, negotiations have
already been begun looking to an ultl-
mate revision of the settlement Wnlcn
was the most arduous of all those pc
tween the United States and its dept
ors. Two British experts were lett pe-
hind by Macdonald to aid IN these
negotiations.
On the economic side the visits re-
Suited in definite agreement to hold tne
world conference on June IL and the
preparations for world tariH truce III
the meantime Efforts also were pegun
to stabilize the pound and the dollar
as step toward return to Wor!d
monetary stability on a revised golo
standard.
Outstanding among the economic
goals to which the nations repre-
sented have pledged themselves under
Roosevelt's leadership are a restora-
tion of commodity prices by stimuli
taneous international action in the
economic and monetary fields, moder-
alton of trade barriers, an expansion
of credit by concerted action OF central
banks. rehabilitation of silver and re-
establishment of an international mon
etary standard.
On all these questions hard and last
agreements were avoided purposely, lest
offense be given to the other nations
whose cooperation is deemed essentlal
to full success at London.