Evening star., 1933-06-12
Americans See
Reference as
Improper.
KINGS SPEECH
OPENS SESSION
Appeal Is Made for
Cooperation on
World Trade.
BY the Associated Press.

LONDON, June IL. - Without
warning to the American delega-
ton the controversial war debt is
sue was injected today into
the World Economic Conference,
which was opened with emphatic
appeals for harmony by King
George v and Prime Minister
Ramsay Macdonald.
1t was the prime minister him
self who raised the question OF
the war debts. He told the. dele
gates from 66 nations, assembled
in what he described as perhaps
the greatest international confer
ence ever held, that something
must be done about the debts
without delay.
Mr.. Macdonald called for settlement
Of "this vexed question once for all in
the light of present world conditions"
Propriety Questioned.
Some feeling was eyidenu among the
United States delegates that this bring
ing in of the debts, specifically excluded
from the conference by the Washington
Government, was not in good taste and
might stiffen sentiment in the United
States against revision.
The prime minister made it clear,
however, that he did not think the
conference was the agency to consider
and settle the debts. And the Amer
leans expressed the opinion that in
mentioning the delicate question he
was talking for home consumption.
The Macdonald speech contained
strong call for co-ordinated %interna-
tional action to put an end to the de-
preston which has cost 100000
workers their jobs and has cut the
value of international trade in twoN
Hull Issues Statement.
Cordell Hull, Americas Secretary Of
State. In formal statement, made no
mention of MacDonald's reference to
the war debts, and expressed renewed
confidence. that the conference dec
laration" will have results "that viii
reinforce the hope of the world"
King George himself, in acknowl-
edgement of the importance of the oc-'
casion, formally opened the first plen-
AIRY session in the great new Geological
Museum In Kensington, 2 despite the
fact that he was suffering from severe
rheumatism which recently has COM
PEELED him to avoid public appear
ances.
The King -Emperor's address was. in
effect, prayer for the success of the
conference which has been called to
bring aid to suffering humanity.
Sterilization Predicted.
Before the meeting adjourned until
tomorrow it was predicted that stabili-
zation of the major currencies within
a wide range would be the first definite
accomplishment of the conference.
High financial authorities close to the
British delegation expressed the ex
pectation, basing it on reported agree
ment earlier in the day among Ameri-
can, British and French representatives
who met at the British treasury.
This was the expectation of high f.
nancial authorities close to the British
delegation. These experts said that as
a result Of negotiations today at the
British treasury among American, Brit
ish and French representatives it was
agreed that Stabilization could be ar
ranged for the duration of the con-
ference.
Wide Range Necessary.
A wide range would be necessary, 1t
was said, in order to conciliate opposing
views.
The banking session was held with
the utmost secrecy
The French are most eager. to get
the dollar and the British pound
stabilized, and it was understood they
were willing to assist the efforts of
London and Washington by placing at
the disposal of the Federal Reserve
Bank whatever sums in francs might
be needed in order to keep the Paris
market within a determined range
The organization of the conference
was completed today and the sessions
will be continued tomorrow when Cor
dell Hull, American Secretary of State
and chief of delegation, is expected to
be among the speakers.
Macdonald Asks Cooperation.
Macdonald made an impassioned
plea for cooperation and action and
dealt somewhat with the machinery
OF the conference.
It was an impressive moment when
the dignihed figure of the British
monarch appeared on the rostrum ard
he paused for a moment to survey this
unique gathering of statesmen and ex-
perts representing every race, color and
creed under the sun.
The King appealed to all to CO.
operate for the sake of the whole world
and for the material progress of civil
ization
His majesty had arrived amidst cheers
from the vast crowd assembled In the
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