The Washington times., 1933-06-14
NAT|ONAL|SM
DRAWSF|RE Of
SECRETARY
Chief of U. S. Delegation at
London RestateS Stand
Against High Tariffs
By GEORGE r. HOLMES


DON, June IA GN.S0.-studi
ously avoiding all mention Of for
eign debts, Secretary Of State
Cordell Hull unfolded Americas
economic policies before the
World Economic Conference this
afternoonn with a warning that
any nation responsible for its
failure will merit the execratior
Of mankind"
Throughout his address, Hull
displayed his determination not tt
be drawn into controversy.
Warns "SelfiSh" Nations
He made no proposals Of q
startling nature, such as it hao
been rumored he would do with
regard to tariffs, but lashed out
vigorously at selfish national
ISM" He said:
eff, which God forbid, any
nation should ObStruct and
wreck this great conference with
the shOrt-Sighted notion that
some Of its favOrite interests
might temporarily profit while
thus indefinitely delaying aid
for the distressed in every cOun-
= try, that nation will merit the
execratiOn of mankind"
Then he declared:
"In the monetary field, suit
able measures must be taken to
provide for an immediate policy
which will give the greatest pos
SibIe measure of stability for
the period during which the
groundwork will be laid for en-
during reform.
simultaneously, all the ma
tiOnS must stimulate the natu-
raj sources of employment, re-
start the wheels of industry and
commerce"
Hits Trade Barriers
Secretary Hull proposed i'm
mediate adherence by all nations
of the world to the tariff truce
proposed by President Roosevelt
as the first step to economic re-
Mobilization; demanded abandon
ment of unfair trade practices,
removal of exchange restrictions,
and "a gradual and careful read
justment of the excesses of tariffs
and other tradebarrierS to a mod
crate level" He asked:
"Has not the time come for
governments to cease erecting
trade barriers with their ex-
cesSeS, rank determinations, and
hate-breeding reprisals and re-
taliatiOnS?"
International cooperation, Hull
declared, is a fundamental neceS-
Sity." Mutually profitable mar
kets, he added, can only be OBJ
tained ''by the simultaneous &C
ton of all governments Stabilizing
exchange and currencies and re-
ducing to a reasonable extent
trade barriers and other impede
ments to commerce between ma
tions."
: In Accord With Chamberlain
Secretary Hull made one de-
parture from the prepared text Of
his frequently revised speech by
stating that if he understood cor
rectly the monetary ideas of
Chancellor of the Exchequer
Neville Chamberlain, then the
American delegates are in accord. "
Hull declared:
NH
world is looking to this confer
ence for leadership with a pro-
gram Of basic relief"
The Secretary's warning to the
conference to abandon selfish in
terests and cooperate was in
serted in the lead of his speech
at the last moment.
It followed the injection of the
debt issue into the conference by
Great Britain and Italy and the
efforts made to block the Ameri-
can delegation from attaining
Craftsmanship of the important
monetary and economic COM
mittee.
For Stable Currency
In urging the necessity for some
form of stabilization Of currency,
Hull said:
I'm the monetary field, suit
able measures must be taken to
provide for an immediate policy
which will give the greatest
possible measure of stability for
the period during which the
ground work will be laid for
enduring reform"
simultaneously all the ma
tiOnS must stimulate the natural
sources of employment, restart
the wheels of industry and
commerce, and so build up
consumer power that the rise
of the price level will of neces-
Sity follow.
"Then the conference must
face the vexing problem of q
permanent international none
tary standard and lay down the
proper function of the metals,
gold and silver, in the opera
tiOn of such a standard in the
future"
FPooH in GInvEnn