Evening star., 1933-07-27
The Conference Recess.

The Conference Recess.
When the Constitutional Convention
at Philadelphia in 1887 was deadlockeo
by insoluble differences. Benjamin
Franklin proposed adjournment for
three days, "in order to let the present
ferment pass of and afford time for q
more full, free and dispassionate IN
vestigation Of the subject" He recon-
mended that members Of the conven-
tion spend the recess mot in devising
new arguments to fortify old opinions,
but in mixing with members OF oppo-
site sentiments, so that when we assem-
BILE again, it will be with a determine
ton to form Constitution, If not such
an one as we can in all respects approve,
vet the best which, under existing cn-
cumstances, can be obtained. The re-
cess was spent in the manner ADVISED
by DR.. Franklin, and whom the con-
vention reassembled the crisis was over
and the way was paved to calm recon-
sideration and agreement.
Today the world Monetary and Eco
nomic Conference at London. after SIX
fitful, fretful and fruitless weeks. plans
to adjourn indefinitely. Secretary
Hulrs plea to adjourn only until No.
vember / was rejected. A steering
committee will continue to function and
determine when the conference can
feasibly be reconvened. What boon
If Franklin's code of conciliation could
be adopted. and the recess, however
long, employed in an earnest effort not
to freeze" present attitudes but to har-
monize them with antagonistic national
viewpoints.
The London Conference failed for two
cardinal reasons. In the first place
there was lamentable lack Of adequate
advance preparation. Secondly, condi-
tions interviewed, notably In our own
case, which suddenly made it imprac-
ticable to discuss and decide questions
that sixty days earlier seemed perfectly
logical subjects for accord. President
Roosevelt In consequence determined to
resort unabashed to that economic ia
tionalism, which In the Washington
conversations with Prime Minister Mac
Donald, NJ. Herriot and others he had
categorically eschewed. Americas re-
fusal to consider war debts, tariffs and
currency stabilization undoubtedly did
doom the conference to futility. but
the President justified his attitude on
the ground that this country's indus
trial recovery program, especially price
raising, had swung into action on lines
that for the time being might be COM
promised by international agreements.
He was especially adamant against all
plans to peg the dollar.
Before Europe settles all the blame
for the London debacle on Americas
shoulders, let her realize that both the
British and the French had their recall
citrant moments, too, and, like US, took
refuge in sheer economic nationalism.
France and her gold bloc allies refused
to bulge an inch toward any conces-
sions that threatened to loosen their
moorings to the gold standard. France
opposed lifting Of quotas and other
trade embargoes. British policy at the
conference was deadlocked on frequent
occasions by grave divergences Of view
point between British finance and in
dustry on the one hand and between
British manufacturers and Empire raw
material interests on the other. Britain
would not listen to proposals for q
world wide public works program as an
aid to recovery.
The world situation being what it Is,
1t is fairly plain that international
agreements on vital economic issues are
unattainable until conditions in the
British Empire, America and France are
more tranquilized. When that comes
about international monetary and COM
mercial arrangements will be possible
and again seem necessary.
To that brighter day the world looks
forward no less eagerly because its re-
cent attempt to relegate economic ma
tionalism proved abortive. President
Roosevelt Is surely as Cooperation
conscious" as before recovery exigencies
changed his international mind for him.
There can be no doubt that he intends
to see that Uncle SAM in due course,
pulls his full weight in another confer
ence boat, launched in more propitious
waters. Purely national needs, here and
abroad, are paramount at the moment,
but altruism will come into its iown
again, propelled by enlightened self-in-
terest. Even Premier Mussolini's taunt
that the failure of the London Confer
ence should cure the world of the inter-
national conference habit does not kill