Evening star., 1933-01-20
S.PO[|CY PRAISED
AT PEACE SESSION
Hoover and Stimson Com
mended for Stand in Far
East Situation.

The Conference on the Cause and
Cure of War this morning unanimously
indorsed the policy of President Hoover
and Secretary of State Stimson in the
Far East, expressing profound satisfac-
ton with their application Of the Pact
of Paris.
Mrs. L. v. Hubbard, chairman of the
Resolutions Committee, offered two
resolutions both giving President Hoover
thanks for the continuance of a dis
armament policy during his administra-
tiCn. Mrs. James Morrison of the
Women, was the author of both reso-
lutionS.
Scraps LyttOn Report.
A third resolution, submitted by Mrs.
Rachel Conrad Mason of the Young
Women's Christian Association, was
read suggesting that the conference
express their hearty approval of the
Senate resolution granting the Presi-
dent power to prohibit the expectation
OF arms and munitions to nations at
war. There was much discussion about
this. however, and it was referred back
to the committee.
Dr. Nathaniel Pfeffer, a resident of
the Far East, an editor, correspondent
and magazine writer, and research fel-
low of the Guggenheim Foundation IN
China, gave an analysis of what should
be done in the East, which startled the
more complacent members Of the
conference.
He scrapped the work of the Lytton
Commission and the League of Nations
because they dealt only with Japan. He
said that all big nations were guilty of
aggression In China, not as blatently as
Ine Japanese, but enough so that Japan
laughed at our righteous attitude as
indicated by the Stimson doctrine.
Give Conflicting Views.
Two lucid and diametrically opposed
points of view were presented last night
at the round table discussion on war
economics at the University of Chicago,
claimed that the scaling down of tariff
walls and the reduction of war debts
were essential to our recovery.
The interallied debts are not the
sole cause of the present depression"
he said. Their reduction, or even
cancellation, is not likely to prove suffi-
clent to bring about turn of the eco
nomic tide. But the debts were one
of the factors contributing to the de-
preston, and their reduction would be
oiAC llllpOl ldllU COllIIlUullOll IOWdTQ
making recovery possible"
There IS a general belief in the
debtor countries" he continued, that
their economic recovery is impossible
unless and until the load of their ex-
ternal debts is reduced, and there are
many competent persons in this country
who agree" He said that in order
to have prosperous America it is
necessary to put Europe on its feet
again, and that it is not only stupid
but blind to confuse a settlement with
our debtors with transferring of a
burden from European taxpayers shoul-
0erS to American taxpayers.
He admitted the argument frequently
made that this reasoning should be ap-
piled to internal debts both public and
private as well as to foreign debts, but
he based his plea on the moral that
1t Is wrong to demand 'the full pound
OF flesh either from internal or external
debtors in Distress He concluded his
case by saying: THE barriers to trade
are more important impediment to
recovery than the debts, and for the
existence and height of these barriers
We are more responsible than any other
country. We should offer reduction
OF our debt claims where they are
pressing most heavily, together with
a general and genuinely substantial |
scaling down of tariff walls, theirs as
well as ours
Opposed by Hollander.
This argument was bitterly opposed
by DR.. Jacob H. Hollander, professor |
of political economy at Johns Hop
kins University. When DR.. Hollander |
took the floor he professed to speak |
for "the plain American citizen" who |,
dwellS sometimes on the side streets |
OF small towns, sometimes in the modest |
two-Story houses of industrial cities, |
sometimes on simple farms. He lives |
in Maine or California, in Dakota or
Texas He is artisan, corner grocer, |
farmer, school teacher, bank clerk |
He is not represented by the interna-
tionalism of unofficial ambassadors, who |
in Paris, London, Rome or Brussels |
deprecate the stupidity of the American
France and attacked the "reptilian dia-
lectic" of the international conversa-
tions.
Prof. Hollander strongly opposed can |
cellationiSt advocacy. Il believe" he
said, that such advocacy involves the
graveSt nSequence-economic, social
and internationaIto the United States |
and to the whole civilized world. Eco
nomic-because whatever measure of
accord society IN tive centuries OF slow
progress has reached is in largest de- |
gree assignable to the growth of finan-
cial faith between nation and nation"
He thinks that this cancellationist !
advocacy is developing into a social |
menace. THE unmistakable appear |
ance, indeed the creeping spread of |
reputation sentiment in the United |
States, by imitation, by postponement, |
by cancellationS-aS to corporate obli- |
cations, mortgage Indebtedness. busi-
ness liabilities-is a direct reprecus-
sion of the countenance given to war |
debt cancellation"
DR.. Lewis Lorwin of the Institute |
OF Economics Of the Brookings Insti- |
tute suggested that the only way to |
cope with present conditions is for the |
World Economic Conference to distin-
guish what measures are Immediately |
possible and what can be accomplished |
as a result of study for future ex-
igencieS. He wants the limited States