Evening star., 1933-06-18
PARLEY EXCHANGE
PLAN TURNEDDOWN
Roosevelt Holds U. S. Isn't
Yet Ready to Stabilize
Currency.
BY the Associated Press.

BY the Associated Press.
The United States Government,
while ready to listen to plans OF other
governments to stabilize currencies,
was described yesterday as not ready
to enter upon temporary stabilization
arrangements such as have been pro-
posed.
The plan for temporary sterilization
pending the outcome of the London
Economic Conference, submitted to the
American delegates to the conference,
was found by President Roosevelt to
be not agreeable to the United States.
The President, after discussing the
proposal with Secretary Woodin Fri
day night, has sent his views to the
American delegates, who are expected
to shape their negotiations in accord
ance with them.
The plan as submitted to the Pres
ident, while not agreeable to this Ma
ton, was said to be something that
could form the basis for future dis
cussions. It was regarded as likely,
however, that the American Govern
ment would act slowly until the whole
picture Of the problem before the Eco
nomic Conference was more fully de-
veloped.
Conferred With Woodin.
The plan submitted to the American
delegates was received last night after
fragmentary proposals had been for
warded to Mr.. Roosevelt. On their re-
ceipt he called In Secretary Woodin.
The Governments position was out
lined today by Dean Acheson, Act
ing Secretary Of the Treasury, but he
did not divulge what was contained
in the proposals or the details Of the
Presidents instructions to the Amer
ican delegates.
It was said, however, that there was
no suggestion In the proposals setting
definite point at which to stabilize
the dollar.
The instructions sent the delegates,
however, were said to indicate the
limits within which the President was
willing to permit the delegates to act
His reply was said to have crystallized
the situation 50 that the other nations
now would know what this Government
was willing to do toward currency sta
bilization.
The communication from the delega-
ton at London was described as IL or
Is pages in length. Ofdcials let this be
known to emphasize their assertion that
stabiliZation was to be temporarily ef-
fected was involved.
Holds U. S. Not Ready.
They said it was concerned primarily
with methods, or method, of control
ing fluctuations on foreign exchange so
that this variable factor could be elm
mated while negotiations looking to a
permanent stabilization we're in process.
They emphasized that the stabiliza-
ton was still open to wide discussion.
Also they said that pegging the price
Of the dollar at any one point in terms
Of foreign currencies was not considered
desirable.
Mr.. Roosevelt was represented only
few days ago as holding that the time
was not yet right for attempting such
action. He believes that before values
Of currencies can be definitely fixed in
terms of each other the relationship Of
the currency of each nation to its
domestic price structure must be better
known
Behind this lay Mr. Roosevelt's de-
sire for an increased commodity price
scale in the United States, an objective
which ran through much Of the legisla-
ton Of his domestic rehabilitation pro-
gram enacted by the special session Of
Congress.
Administration officials explained that
failure to agree upon temporary basis
Of stabilization by no means meant that
such an agreement on a permanent
basis would not be concluded.