Evening star., 1933-07-17

Emphasis upon the importance Of
domestic problems, even to the handling
Of the currency situation. is believed
by the country to. be the chief result Of
the London Conference. which IS seen
by the public to have narrowed its
particular interests. It Is recognized
that the American Government has a
definite program and that in working
1t out there is clearer understanding
with Great Britain.
In spite of the tragedy Of another
futile conference (and the comedies
along the way, it may be-" says the
Baltimore Sun. that the conference
has produced a better appreciation Of
point of view which must come nearer
together before recovery can be said
to be on a solid basis" The Sun also
voices the judgment: I'VE have had a
diverting and instructive month OF 1t.
We have discovered the potency Of the
continental resistance to out-and-out
imitation and those who read something
about the conference, aside from our
own efforts to tell it where to get OIL,
must have acquired a better under
standing Of the difficulties of the Brit
ish as they stand poised between temp
tation and shuddering dread. Most In
structive Of all has been the evidence
of the Roosevelt administrations in
sistence upon domestic elevation OF
prices and its increasing indifference
to the international consequences Of
such program"
The American statement to the con-
ference Is interpreted by the New York
Sun to indicate that, whether the ad-
ministration will agree to stabilization
a year or two years from now, the
present aim Of the United States Is to
revalue the dollar in terms Of Ameri-
can commodities" The Sun concludes
as to the purpose Of the Nation: 1T
is indicated that President Roosevelt
wishes to bring prices to the level OF
ls24-25. In many important items. in
cluding steel, cotton and copper, we are
stu . long way from the averages Of
nine years ago. When prices will re-
turn to those averages is beyond pre-
diction. The most daring economic
legislation in our history, the recovery
act, Is only beginning to be translated
into action. Any attempt to peg the
dollar in terms Of the pound and the
franc must await the results of the
work into which Gen. johnson and his
aides have plunged"
Fortunate 1t Is for America and for
the world that we have at the helm in
these challenging days mind with the
clarity to see and the courage to try q
new idea" declares the Atlanta Journal,
while quoting from Prof. Irving Fisher
the statement that "the gold-standard
countries themselves. instead Of resent
ing President Roosevelts policy, should
acclaim him deliverer." The Gin
cinnati Times-Star. feeling that gen.
eral recovery policies are involved.
AYERS that "the eyes Of other nations
are upon this country" and that II
Americas progress continues: other ma
tions will march with it," The Roches-
ter Times-Uniou Is convinced that mo
world conference will do any good un-
less the way for it has been more
carefully prepared, not by amiable,
vague exchanges, but by actual accords
within a considerable field"
The Portland Oregon Journal explains
the vigorous attitude Of the American
Government toward the conference pro-
ceedings by stating that 'the gold-bloc
wrecking crew was dominant and domi-
neering" The Charlotte Observer finds
evidence that France and the gold
bloc are shunted to the sidetrack."
Britain favors the rise In commodity
prices but will let the United States
30 the laboratory" thinks the Newark
Evening News, while the Providence
Bulletin concludes: THE British have
maneuvered themselves into POSI-
ton from which, II the American ex-
pertinent shows signs of taking on. they
can swing behind us or, In the event
Of failure, they can associate them
selves with the gold-bloc countries.
They are, as the correspondents accu-
rAtely describe 1t, In the middle-of-the-
road"
It is pointed out by the San Fran
cisco Chropicle that France did her