Evening star., 1933-06-22
Proposal Hits.
at French
Quotas.
STERILIZATION
STAND CLEARED
Moves Interpreted
as Preventing g
Breakdown.

LONDON, June II H'.-Ne-
vived reports that President
Roosevelt might come to the
World Economic Conference
were denied today by Secretary
of State Hull, who said he had
heard of no such plan and be-
lieved he would be informed if
the visit were contemplated.
Senator James Couzens in
behalf of the American dele
CATION this afternoon presented
a resolution before a sub-com-
mittee of the Monetary Com
mission embodying the Amer
lean public works plan. The
resolution calls for a concerted
=, public works program in all
countries where it would be
feasible.
BY the Associated Press
LONDON, June 22.-The Amer
lean delegation to the World Eco
nomic Conference today startled
the assemblage by the introduc-
ton of a resolution calling for
the removal of trade barriers, and
shortly afterward issued state
ment to the conference that the
United States Government feels
that currency stabilization now
would be untimely and possibly
would cause a violent price'reces-
sion" to the detriment of the con-
ference.
The opinion freely expressed in
the lobbieS, however, was that this
was the American answer to the
fierce campaign France and other
gold standard countries have been
waging to force the United States
to stabilize the dollar before other
subjects are dealt with at the con-
ference.
Ordered By Roosevelt.
The tariff resolution was introduced
In a subcommittee of the Economic
Commission this morning. AS soon as
word of it spread the delegates began
debating its probable effect. 1t was
offered by Secretary of State Cordell
Hull under instructions from President
Roosevelt.
The sterilization statement said that
~undue emphasis" had been placed upon
proposals for temporary stabillZatlon,
and asserted that this matter was never
an affair of the delegation itself but
rather of the Treasury and the central
banks of the United States, Great
Britain and France.
The American Government, the state
ment continued, feels that its efforts
TO raise prices are the most important
contribution it can make.
Text of Statement.
Unique emphasis has been placed
upon consideration of a plan pro-
posed for temporary de facto stabili-
Zation Of currencies.
The fact is this never was an
affair of the delegation. 1t was con-
sidered by representatives OF the
treasures and central banks Of the
United States, Great Britain and
France, Oliver NJ. w. Sprague having
been especially sent 10 represent the
United States Treasury for this
purpose. The American Government
at Washington finds that measures
for temporary sterilization now
would be untlmely.
The reason why it is considered
untimely is because the American
Government feels that its efforts
to raise prices are the most I'M
portant contribution II can make
and that anything that would inter
fere with those efforts and possibly
cause a violent price recession would
harm the conference more than the
lack of an immediate agreement
for temporary stablllZatlon.
AS TO the ultimate objective. the
American delegation has already in
troGuced a resolution designed lot
ultimate world wide stabllZauon OF
unstable currencies, and Is deVotlng
itself TO the support of measures LOT
the esta blishment Of a co-ordlnateo
monetary and fiscal policy TO De
pursued by the various nations IN
corporation with the others for tne
purpose of stimulating economic
activity and improving prices.
Macdonald Jubilant.
h 20 I