Evening star., 1933-02-06

opinion is taken into consideration an
financial and trade conditions, no settler
Americas condition for revision Of
the debts, that she should be given
some compensation for the sacrifice of
her claims, is not unreasonable, and it
should be possible for Great Britain to
adhere to this. Mr.. Chamberlain
words on this point were badly chosen
and bore a construction he probably
never intended. He did not, in fact,
rule out consideration of mutual agree
mentS on trade and monetary matters
which would put America in better
position In the British market than she
occupies today. But any agreement
which would give that result would not
have to be of a wholly one-sided
character.
I don't believe that the British gov
eminent would agree to an arrange
ment whereunder American exports
were given favorable terms in the
British market while America main
tanned her present prohibitive duties
upon British goods.
Actual agreement between the United
States and Great Britain for greater
freedom OF trade between the two
countries would give the compensation
for the debt concessions which the
ment, whereby an increase in trade
between the United States and Great
Britain was secured, would be of
greater benefit to both countries than
isolated settlement of the war debts.
Favors Tariff Agreement.
II, for instance, the disadvantages to
United States trade with Britain, which
1ax TIA
agreements, would be removed, that
alone would be substantial compensa-
ton to America for the sacrifice of her
war debt claims.
To make bi-lateral tariff agree
ment with the United States would be
in harmony with the claims which
British statesmen are shouting from
the housetops. They justify the adopt
ion of tariffs by Breat Britain solely
on the ground that they give her a
bargaining weapon to secure reduction
OF tariffs IN other countries.
The British government is pledged
to reduce Britain's general tariff If
thereby 1t can gain concessions else
where. In what precise form compen-
sation to America should be given
must be decided by the Washington
conference. But If there is willing
ness on. the part Of the British dele
gates to understand the American view
point, that America will be making a
great and, to her, expensive sacrifice by
remitting the debt claims, 1t should
not be difficult to meet the American
desire for compensation in a way which
will be OF benefit to America and won't
deprive Britain Of the relief which
otherwise would come to her from re-
mission Of debt payments.
The contention that any agreement
with the United States for greater
freedom of trade between the two
countries must await the world economic
conference Is without substance The
Willingness Of the British government
to conclude trade agreements with
foreign countries now seeking such
agreements diSposes of the argument
that an agreement with the United
States cannot be made part of the debt
settlement.
Would Influence Farley.
Indeed, such an agreement, made
between the two greatest trading ma
tions before the world conference
meets, would have considerable in
fiuence upon the conference in the
direction Of removing or reducing
artificial hindrances to world trade
The invitation to the Washington
conference proposes that the discus
sions should be wide enough to cover
all the economic causes of the world
depression. 1t is true that all remedies
for the restoration of world prosperity
cannot be settled by bi-lateral agree
ment between the United States and
Great Britain, but the discussion
thereon at Washington, leading to an
agreement in policy between the two
countries before the world economic
conference, should go far to insure the
successful outcome Of that conference.
Two questions the Washington con-
ference can settle: The debts question,
and the granting to the United States
| compensation in the form of freer
access to British markets on a basis
Of fair competitive conditions.
Gold Basis Talk Undesirable.
Other questions of vital Importance
which can be broached at Washington
are stabiliZation of exchanges and
disarmament. Neither of these matters
can be settled by the United States
and Great Britain alone. 1t is rumored
that the United States will make it 4
condition of debt revisioni that Great
Britain return to the gold standard. A
discussion of this important matter at
| the Washington conference, linking it
UP with the debt settlement, seems
undesirable. All nations are now so
vitally interested in the matter that
concerted action must be taken.
The attitude Of the British govern
ment thereon has been made quite
plain. 1t is that the ground must be
cleared for the return to the gold
standard and that abuses arising in
the past must be made impossible In
the future.
In the course of public controversy
on international questions, incidents
are bound to arise which may provoke
temporary ill-Xill or misunderstanding,
but think can speak for the people
Of England in saying that they realize
the position of America in the debt
controversy and are anxious only for q
friendly settlement which will be
mutually beneficial and leave no feel
ings of disafiection on either side
Copyright, 1893. by North American News
| paper Alliance, IncD
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