Evening star., 1933-06-19
President Aims
to Aid Course
of Initiation.
DOLLARS VALUE
WON'T BE FIXED
America Fights Shy
of Any De Facto
Currency Plan.
Nv the Associated Press.

By the Associated Press.
The administration has now
made clear it will not subscribe
to any immediate currency sta
bilization plan that might inter-
fere with the present upward
movement of American prices.
In view of this, it was believed
in Washington today that any
temporary agreement for control
ing the f1uctuation of currencies
which may be worked out at the
London Economic Conference
would not involve any fixation OF
the dollars value, and would be
extremely elastic in nature.
Furthermore, the specific new in
structions which went to the delegates
last Saturday explained that the Amer
ican representatives are to make no
commitments until Washington has been
consulted. Decisions here will all hinge
on the word of vacationing President
Roosevelt
Disliked Control Method.
officials here have emphasized that
his disapproval of the first plan sub
mitted was evoked by the method Of
control contemplated and is not to
be interpreted as meaning that America
will perSistently decline to enter into
permanent stabilization agreement
On the contrary, Mr.. Roosevelt Is
not only ready, but anxious, when he
believes the proper time arrives, to join
in such an arrangement.
But during the months preceding the
London Conference he consistently de-
clined to be drawn into any OF the sew
eral moves for de facto stabilization.
Principal reason has been shown to be
Mr.. Roosevelt's concern lest any cir
cumstance interrupt the present up
ward price movement, a solicitude
which runs through all the legislation
Of his domestic program.
The Chief Executive wants the do
mestic price level to reach a satisfac-
tory height. presumably the level of
1926. before anything Is done to halt
this inflationary course. Also, the
President will enter no agreement that
might tie his hands for employing his
authority to initiate a controlled infla-
ton of the American currency when
and If it is needed
The attitude of the American Gov
ernment was explained at the Treasury
today, where it was said no new plan
had reached Washington since the one
rejected last week by President Roose-
velt.
1t was emphasized that this Govern
,Nt LII, H.
Importance of currency stabiliZation,
but felt this was only one of the many
things which should be considered in a
general scheme of settling the world
economic ills.
Acheson Explains Attitude.
The belief was expressed that the
London conference should see that ma
tions revise their monetary system.
along with action to place their budgets
on sound basis and not on tariff and
disarmament proposals.
This Government, it was said, is not
taking any attitude whatsoever on the
question of stablization of currency,
but does not yet see where any great
benefit would accrue from a temporary
stablization.
The attitude of the American Gov
eminent was explained by Dean Ache
son, acting Secretary of the Treasury.
He said the American delegates at the
conference had received definite in
structions from the President.
officials previously had said that no
point at stabiizing the dollar had been
suggested 1t was added today that the
Government is not intervening to sup
port the dollar. but is keeping hands of
the situation and following the Presi-
dents announcement in April that the
dollar would have to seek its own level
ARMS MEETING DELAYED.