Evening star., 1933-06-16

French Claim Agreement.
The French indicated they had
thought the stabilization question had
been settled when they conceded the
Craftsmanship of the Monetary Commits
sion to James M. Cox, second in COM
mand of the United States group.
1t had been reported that plans were
afoot to stabilize the American dollar
at between $4.04 to S4.07 to the British
pound
In formal statement given out in
Washington last night and received
here this morning, the American Sec
retary of the Treasury said that "the
discussions in London (regarding stapi-
ization) must be exploratory only, and
any agreement on this subject will be
reached in Washington. not elsewhere"
In the meantime, British. French and
American bankers are meeting in Lon
don to study the problem and 1t was
reliably stated that they are expected
to reach decision IN two or three days.
q. s. Delegates Stand Pat
With the conference facing this fresh
impasse, the American delegates were
standing pat on their informal denia
that an agreement had been reached o.
stabilization and were awaiting instruc
tions from washington.
From British official sources today
there also came denial that an agree-
ment had been reached for stahiHga.
ton Of the pound-dollar exchAnA
The American delegation fccefaN
further appointments to the Important
commissions this morning.
Senator Key Pittman Of .-rvaca ana
Senator James Couzens of Michigan
were named on the Monetary Commits
sion with Mr.. Cox. Ralph w. Morrison
Of Texas and Representative Sam -9s
McReynolds of Tennessee were appoint.
ed to the Economic Commission. Secre.
tary Of State Hull did not desire a place
on either, as at present he is a member
of the Steering Committee and he does
not expect to stay IN London throughout
the conference.
1t was announced late today that
Norman Davis, American representative
at the Disarmament Conference and one
OF the organizers of the economic parley,
was arriving in London tonight to confer
with the American delegation.
Davis Won't Resign.
Mr.. Davis was to have returned direct
to Washington from the continent to
consult with President Roosevelt, but
changed his plans so as to proceed yiaA
London, giving him an opportunity for
conversations here.
American quarters said thefe was
no special significance in Mr.. Davis
visit excepting possibly the fact that
the President always has insisted dis
armament Is essential to the success Of
the economic conference.
1t was reported that Mr.. Davis would
leave for the United States on Sunday.
Presumably, he will be able to carry
back to Mr.. Roosevelt an intimate re-
port on the proceedings here.
The Ambassador will spend a few DAYS
in the United States, during which time
he will attend the wedding of his son
Paschan in New York.
It was stated that the trip has
nothing to do with resignation rumors,
as he has no intention to resign.
Committees Convene.
Mr. Cox was in the chair for the
Monetary Committee session. Prime
Minister Hendryk Collin of the Neither
lands presided over the Economic Com
mittee meeting.
The main interest of the big parley,
the delegation chairmen having finished
outlining their governments views on
economic rehabilitation, centered in the
Monetary Committees discussions.
Prime Minister Macdonald of Great
Britain, president of the conference,
sat beside the aggressive former Cover
nor of Ohio as Mr.. Cox opened the
proceedings.
Cox, who declared yesterday after he
had been named leader of the all-im-
portant monetary group that he has
always favored a sound money policy"
said the first thought of the committee
would be to justify conference policy.
He continued they were all of one
mind that there was general dis
order, the remedy for which would
UContiD1Ied nm Pape q Cnl,,ron ~