The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-07
BY WILLIAM PHILIP SIMMS
Scripps-HoRard Foreign Editor

WASHINGTON, June Fear,
stark and panicky in its intensity
and worldwide in scope, will sway
the London economic conference
scheduled to convene next Monday.
Fear Of what will happen if the
conference fails. may lead the fifty
four nations gathered about the
green baize table to reach some
semblance Of agreement. At the
same time fear of another sort will
be Juggling hard at some Of the
most important powers, blocking &C
cord.
Some nations-like England, Ger
many and Japan-must export vast
quantities Of their goods to survive
as great nations.
With huge industrial populations
cooped up in small territory, sur
vival depends upon importation OF
raw materials and fOodStuffs. and
expectation of manufactured or
processed products in enormous
quantity. Without this they would
crack up or Wither away
Great Britain in Danger
Some must sell from 80 to 60 per
cent of what they produce in order
to survive, others as much as 20
to 30 per cent.
Great Britain and Germany are
in particular danger. Japan is Gre
ating a new empire for herself in
Asia. with a view to broadening her
market and her source of raw ma
terials. France is building an en-
pire in Africa and in the far east
But Germany has lost her colo
MES anc some of her territory at
home, while Britain, in effect, has
lost almost her entire empire and
has a doubtful future.
Not only has Britain lost Canada
Australia, New Zealand, South At
RIGA and Ireland as colonial pos
sessions. but she no longer is the
manufacturer, par excellence, to The
rest of the wide world which she
once was.
Gone Are Old Days
Her ships used to collect raw ma
terials in the four corners of the
globe. carry them to the British
Isles. turn them into finished prod
ucts and ship them out again-all
to ncr tremendous enrichment.
Today the United States, Japan,
Germany, France, Italy, CzechO-
Slovakia and even Russia and China
not only are making for themselves
the things they used to buy from
Britain, but actually are competing
with her in the markets of the world.
In good times world trade amount
ed to about $4,000 100000 a wear.
OF this 4O,O00,0OO,0O0 year has
disappeared. Struggle for the re-
naming $3OO00,000,000 already is
hectic. and the fight of each of the
principal exporting countries to re-
gain its share Of the lost $4,000,
100000 will be keener still and
fraught with the danger of actual
war. Economic strife is behind ey-
cry conflict.
Tariffs Gigantic Hurdle
The London conference will tackle
tariffs and other obstacles to inter-
national trade. That is one of its
biggest jobs. Fear of losing out in
the coming battle for foreign trade
will be so intense that it may block
constructive action.
Each delegation will be torn be-
tween doing what it knows to be
the proper thing and doing the
thing which it's nations back home
selfiShly demand.
The world economic conference of
1927 went on the rocks because of
the fear and distrust which each
nation felt for the other nations
particularly European nation for
European nation Yet it was just
as well prepared for in advance, as
this one.
The time has come, the prepara-
tory committee for the 1927 con-
ference declared, Ito put an end to
the increase in tariffs and to move
in the opposite direction. Neverthe-
less nothing happened.
Two Things Important
Small wonder, therefore, that
Raymond Noley, assistant secre-
tary of state, warns not to expect
too much now. The nations rep
resented will be too scared to make
sweeping commitments Two things,
however, can be done, he believes
namely monetary sterilization and
the removal Of international eX-
change restrictions.
Fear Of what would happen to
the world if this were not done
should bring that much. But as for
the rest, says Moley significantly:
The conference Will best serve
the hopes and expectations of the
world if it does not attempt the
unattainable
EaRHzuSuSzHz ny,
Cash for Trash