Evening star., 1933-06-19
PARLEY STALLED
ON STERILIZATION
Negotiations at Complete
StandstiII Pending Word
From Roosevelt.
Continued From First Page

tant American CeleSdJlOn QudIleIS. II
was acknowledged, however, that Presi-
dent Roosevelt may want first hand in
formation from Gov. Harrison when the
Federal Reserve Bank official arrives in
the United States.
While the French are making an is
sue out of stabiliza ton. the British are
devoting much of their energy to the
war debts problem. the settlement of
which they maintain is vital to the sue
cess of the London gathering.
Sir Frederick Ieith Ross. British gov
eminent financial expert, has been fully
authorized and fully armed to talk war
debts with anybody in the American
delegation who is willing to discuss this
issue. The American delegates hold
that this matter is outside their prov
ince, but the British are hopeful that
Mr. Moley will be authorized to deal
with the subject as soon as he arrives.
The British are prepared to create
mission to visit Washington, and 1t is
understood that Chancellor Chamberlain
of the exchequer himself is willing to go
to America as soon as the conference
Is over
Production and expectation agree
mentS the Coulondre memorandum
said, should begin with such key prod
ucts as wheat, wood. wine. copper, sill
Hit Trade Restrictions.
M. Sarraut said that France consid-
cred trade restrictions, such as quotas
and tariffs, to be the superficial EVIL
dence of disease" and that once pro-
duction and consumption had been
equalized by governmental contracts
prices would rise and debtors would be
relieved of their burdens.
1t was sought to jockey discussion OF
the French project ahead of consider
alton Of reduction in tariffs, quotas and
other restrictions. The Americans
sought to have the tariff discussion
first and Kendryk Collin, head of the
commission, ruled in their favor.
REIMBURSEMENT between supply and
demand cannot be made except by bet
ter organization of productions and
markets on an international plan," the
Coulondre memorandum said. This
method, which has given satisfactory
results when sanely applied under pri-
yate agreements, has been recommend
ed by the Geneva experts"
1t is time, the document continued,
fer the governments to take common
action on agricultural products and raw
material.
The French delegation, based on ex-
perience, deems there is no better prac-
teal means of establishing order in
the present anarchy of production and
exchanges" the memorandum said.
"The delegation believes that the World
Economic Conference should examine
with care the possibility OF accords
among the governments on certain
products.
Debt Payment Mentioned.
international measures for the Or
ganization of the production OF GER
tain basic products, interesting large
number of producers, cannot fail by
raising price levels to restore lost mar
kets to industry and to offer new pos
sibilities for the employment OF labor
Such organization will Immediately pro-
woke rising prices and an increase In
purchasing power.
Further, such organization will make
it easier for debtors to meet their nnan-
cial engagements"
Once these measures have been ac-
complished, the document said, the gov
ernments will be able to reduce trade
barriers.
The French will stick to their quotas.
high tariffs and Surtaxes. in which
American commerce is vitality interested,
until the industrial and agricultural
chaos is ended, M Sarraut indicated.
France cannot enviSage automatic
suppression of quotas and tariffs until
production has been organized on
rational basis, starting with agrlcul-
ture," one high French official said.
Meanwhile, responsibility for brief
suggesting a 10 per cent horizontal re-
duction in tariffs caused comment, as
the second week Of the conference De-
gan.
Senator Key Pittman. because Of an
Interpretation placed upon the tarln
brief to make it seem to be the sugges-
ton of the American group, in a formal
statement said mo such proposition
was submitted by the delegation.
Scores Newspaper Report
He described as without foundation"
a newspaper report on the proposal,
which was sent to the conference Sat,
urday from American headquarters and
published as suggested agenda sub
mitted by the American delegation.
THE technical advisers of the dele
cation may have drafted their ideas TO
form the basis Of discussion Tor the
aQenda OF the economic commission,
the Senator asserted.
IT am informed that these sugges-
tions were transmitted to and given
publicity through the Economic Com
mission Of the League OF Nations None
IdEf anu SOllACAS SAANNf 49,
not given out through press ofncerS OF
the American delegation
1T IS unfortunate that through error
the statement was attributed TO the
American delegation. should add that
this erroneous impression was Que 10
no fault of the press"
The explanation was given that the
idea was drawn up by Henry Chalmers
of the Bureau OF Foreign and Domestic
Commerce and member OF the technical
staff of the delegation and submitted
to the secretariat OF the Economic Com
mission as a suggested basis for nego-
tiations.
The brief Is said to have borne the
initials Of Secretary Of State Cordell
Hull. leader of the Americans.
Although there was some secrecy as
to details, the action appeared 70 have
been taken with the cognizance Of one
or two delegation members, but with
out the knowledge or approval OF most
of the others, some Of whom were in
censed at what they considered mis-
representation Of the delegations view
point.
Meanwhile, the Americans continued
attempts TO work out a dollar pound
sterilization formula acceptable to
Washington. London and Paris alike
Early Agreement Seen.
A message informing them OF Pres
ident Roosevelt's diSapproval OF ten
tative arrangement worked out last
week had C1t arrived, but the United
States group. acquainted with its gen.
eral terms. felt they knew enough OF
its contents to go ahead.
Oliver NJ. w. Sprague, executive as
sistant TO Secretary of the Treasury
Woodin asserted an agreement for con-
trolled stabilization of principal cur
rencies could be worked out in less
than a week
How long do you think 1t will take
to reach an agreement-a week or two
WeekS?" he was asked.
II do not think it will take as long
as that" he replied.
Tho Elrench view was that II olob,