Evening star., 1933-07-27
Text of Secretary Hulls Farley Speech

greater measure of sound and lasting
business prosperity.
Can Develop Both Programs.
Let me say with reference to my avn
and other countries striving by every
available domestic method to extricate
themselves from panic conditions that
there Is no logic In the theory that
such domestic policies are irreconcilable
with international cooperation. Each
country undoubtedly should invoke
every emergency method that would in
crease commodity prices 20 that they
may gradually be co-ordinated with In
ternational economic action for the
common purpose Of business recovery.
The development Of both programs can
be proceeded with on . substantial
creasing extent as emergency treat
ment Of panic conditions diminishes.
In harmony with these views I have
presented to the conference q proposal
for an agreement among the nations to
reduce trade barriers gradually over .
period Of time TO make the uncondi-
tional form Of the favored nation doc
trine, with reasonable exception in
favor Of broad international efforts for
reduction of trade barriers, the univer-
sal basis Of commercial policy and to
extend the life of the tariff truce to .
reasonable period beyond the final ad-
journment Of the conference. This pro-
poSal offers q basis upon which q world
program might be developed during the
course of the recess and the meeting Of
the conference to follow.
The American Government therefore
hopes that every nation that may not
have done so will launch a full domestic
program Of both ordinary and extraor-
dinary methods and remedies calculated
to raise prices, to increase employment
and to improve the the business situa-
ton.
Still Near Panic Level.
We must all agree that business con-
ditions in most countries are sttl at or
near a panic level and that their res
toration imperatively calls for a pyo-
gram Of fundamental policies and
methods as outlined in the agenda of
this conference. We know that these
conditions have not greatly improved
and that the basic features Of the
conference agenda remain virtually un-
touched and unacted upon We know,
too. that the greatest single step the
conference can take Is one that would
inspire confidence, and this step can
only be taken by q determination Of this
conference resolutely to 60 forward to
the solution Of each vital problem listed
on the agenda.
No nation has ever been able to live
unto itself and not become backward
and decadent. No people in the past
have long remained highly civilized
without the continuing benefits of the
Cylctnnrg r,rIf ~ ~ k,n
parts Of the world, and these are only
within the reach Of trading nations
International commerce conducted on
q fair basis. as our agenda proposes, Is
the greatest peace maker In the expert
ence Of the human race. The promo
ton and preservation of the high ideals
and high purposes of economic peace
brought this great conference together
and its failure would be their failure
No governments within my time have
faced q graver economic crisis or come
together with a higher mission. It
would be an unforgivable act II they,
through local. regional, or other con-
siderations, should fail to perform this
great trust. They should disregard the
threats or pleas Of minorities selfishly
clinging to the excessive tariffs and
other favors of their governments. A
reasonable combination Of the practi-
cable phases of both economic national
ism and economic internationalism-
avoiding the extremes Of each-should
be our objective.
Praises Helpful Spirit.
want to take this opportunity to
express to all who have contributed to
the work of this assembly-to his
majesty the King. who graciously opened
the conference, to the prime minister;
who has so ably presided over this great
gathering, and to my other fellow dele
gates-my own deep satisfaction in the
helpful spirit Of cooperation which
has resulted from our labors so far.
We came here beset by our individual
problems compelled by the necessities
of special circumstances arising from
widely differing conditions IN our va
rious countries. We have come to .
much clearer understanding Of each
others viewpoints and special prob
lens. We have not permitted immedi-
ate considerations no matter how ur-
gent to divert us from the larger pur-
poses to which we are all committed.
We are unitedly resolved to move
forward together in q common cause:
It cannot fail to. be gratifying to all
who wish lasting success from this con-
ference that greater good will and
mutual helpfulness, deeper comprehen-
sion and renewed determination have
come from our deliberations.
The duty and responsibility Of the
conference are we'll known to us as
they are to every intelligent citizen Of
the planet. / pray that each of us
may be given the light clearly to see
and fully to understand. We cannot
falter. We will not quit. We have
begun and we will 60 on.