Evening star., 1933-04-29
ECONOMIC PARLEY |
SUPPORT PLEDGE
DR.. Luther Says Germany
Will Bring International
Cooperation.
BY the Associated Press.

By the Associated Press.
NEW YORK, April 29-Germany' s
new Ambassador to the United States
pledged last night that his nation would
take to the world economic conference
the strongest will for international
cooperation imaginable"
In speaking before the Academy of
Political Science, DR.. Hans Luther de-
livered his first message to this country
from . public platform since his
arrival from abroad two weeks ago.
mo government in the world" he
said. "is more ready for international
cooperation than Is the German The
German government Is cooperation"
Ease in Distress Seen.
He predicted the economic confer
ence will lease the world wide distress
Of the hour"
Germany" he added, welcomed in
the warmest manner the decision OF
your President, resulting from his pro-
found statesmanlike judgement, to have
preliminary conversations on the world
economic conference in Washington"
Still speaking OF the conference. he
declared:
You as a creditor nation certainly
know that paying debts due the United
States Is possible only In the form of
dollar remittances or the importing OF
goods
Among the questions which must be
solved by the conference is found the
I,a tah
lishment of firm value relations between
the different currencies which will make
merchants computation possible.
In speaking of what he repeatedly
called the German revolution" DR.
Luther said:
The Germans are still the old Ger
man people"
He said the nation would never cease
to carry on its cultural and intellectual
ideals
IF to some Of you ladies and gentle
ment," DR.. Luther said, any OF the
happenings in Germany seem too rapid
or too evident. or exaggerated. pray dc
not forget that these developments took
place in Germany under the unnatural
pressure of the situation created by the
treaty of Versailles.
Il have ever felt profound admira-
ton, and I dare to say. personal graft
tude, to the United States for refus-
ing, with the most delicate political in
stinct, to ratify the treaty OF Versailles
Aim of Revolution.
"Now concerning the meaning and
aim of this revolution.
1T is the national rebirth OF q peo-.
pie. 1t is. according to the belief OF
the ma iority of the German people. the
final fulfillment Of thousand-year- =
old wish which not even the Bismarck
empire has been able to fulfill COM
pletely. The other great peoples have
long since completed the process OF be-
coming a nation.
TT IS only another aspect Of the ma
tional renaissance of Germany that she
directed the power Of her national Will
against certain anational movements
which only through rather inexact
but universal way Of expression are
called international :.
Thus Germany has defended herself
against such national communism and
in doing so has rendered. l think. q
service to the future of the whole world
The highest aim for Germany. both
as a state and as nation. now IS to
secure and solidify the inner stability
OF her state and social organism"
Englishman Speaks.
Sir Walter Layton, prominent Brit
ish economist, also addressed the din
ner. discussing this countrys action IN
abandoning the gold standard and de-
claring against any form Of monetary
imitation on the ground that 1t would
not accomplish the expected results.
The present trouble" he said, rs not
that there is insufficient currency or
credit in existence. but that it does not
circulate. There are today in the hands
If the public far more notes than In any
period of the boom.
Clearly, if these notes circulated
there is enough currency in America to
carry a much higher level Of prices
But the level will only rise If some one
spends. This may be either private in
dividuals or the Government. and In
both cases it may start general up
ward movement.
But unless there is general conf
dence and conditions are ripe for q
uniform improvement all along the line,
one act Of spending may give only a
momentary lift which will quickly fade
away while the currency or bank money
which started the movement returns to
the banks"