Evening star., 1933-12-13
%HE text Of the economic proposal
laid before the seventh Pam
American Conference at Monte
video by Secretary Of State
Cordel1 Hull was made public

laid before the seventh Pan
American Conference at Monte
i video by Secretary of State
Cordell Hull was made public
i by the State Department here es
follows:
whereas, the governments of the
| American republics, convened at the
seventh International Conference OF
American States, are impressed with
the disastrous effect Of distractions to
international trade upon the full and
stable business recovery Of individual
nations, as well as upon general world
prosperity; and desirous of abandoning
economic conflict and of achieving some
measure of economic disarmament; are
confident that through mutually profit
able exchange of goods they themselves
and the governments of the other ma
i tionS Of the world may reduce unem-
| ployment, increase domestic prices and
| improve business conditions IN their
respective countries; recognize that the
existing high trade barriers can be
effectively reduced only through stimuli
| taneous action by the nations OF the
world;
Be it, therefore, resolved by the
seventh International Conference OF
American States that the governments
of the American republics shall promptly
undertake to promote trade among their
respective peoples and other nations
and to reduce high trade barriers
through the negotiation of comprehen-
sive bilateral reciprocity treaties based
upon mutual concessions; and,
Be it further resolved, that the gov
ernments of the American republics
do each subscribe, and call upon other
governments of the world to subscribe,
to the policy and undertaking, through
simultaneous action of the principal
| nations, of gradually reducing tariffs
and other barriers to mutually profit
able movements of goods, services and
capital between nations. such policy
and undertaking being in words and
figures as follows:
That at the earliest practicable date,
consistent with the exceptions and
reservations herein, the subscribing
governments, while not neglecting uni
lateral action, will simultaneously initi-
ate between and among themselves
negotiations for the conclusion OF
the removal of prohibitions and reStric-
tions and for the reduction of tariff
rates to a moderate level
Inc reservations ana excepIlOnS Sndll
apply to the entire undertaking and
shall expressly include the operation OF
temporary. emergency or other extraor-
binary measures comprising domestic
programs, primarily for national eco
nomic recovery, now or hereafter in
operation in any country party to this
undertaking.
The object of this undertaking is to
assert and maintain the broad economic
policy of exploration combining with
any existing domestic program a suit
able program of international economic
cooperation as each nation emerges
from serious panic conditions.
The subscribing governments under
| take mostly that their aim will be SUBJ
stantial reductions of basic trade bar
riers and liberalization of commercial
policy as aforesaid and not merely the
removal of temporary and abnormal re-
strictions and increments imposed for
bargaining purposes. They will en-
deavor in so doing to direct their
greatest efforts toward the elimination
of those duties and restrictions which
completely, or almost completely, ex-