Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1933-07-13

well. His effort wa.
not at first successful. for the leaders
yielding TO the demand or the golt
bloc, decided the conference should
take a recess for an indefinite time
This accorded with the views OF som
of the American delegates. bur Sec
rotary of State Hull acting under in
strucriUns from President Roosevelt
fiercely fought the plan and finally per
suaded the bureau. or steering com
mittee. to change its mind IT then de.
clarfd it was firmly determined 10 pro
cetn with the work OF the conference
and asked the various subcommittee
TO prepare a list Of questions that
could be nsefully studied by the CON
ference. monetary problems being ex-
cluded BY the gold bloc. AS tariff
problems also are out, 1t may seem
that the conference has lost It's first
rank Importance In world news for the
present
What the President first did TO the
conference was In the form Of q note,
read TO it By Mr.. Hull. beginning.
Il would regard it as a catastrophe
amounting TO a world tragedy If the
great conference of nations called to
bring about a more real and perrla-
ment financial stability and d greater
prosperity 10 the masses Of all nations
should in advance Of any serious ef-
fort TO consider these broader prob
lens allow itself 10 he diverted By the
proposal Of q purely artificial and
temporary experiment affecting the
monetary exchange Of q few nations
only.
Such action. such diversion. shows
q singular lack OF proportion and fail
ure 10 remember the larger purposes
for which the economic conference
originally was called together
Delegates Of the gold bloc nations.
led by France, were anaered both bv
The Presidents attitude on srauIIjza-
ton and by What they considered his
dlefaforial manner. and Prime Minis
Ter Macdonald was g~rieyously disaD-
pointed The conference leaders n,er
ana after a lot OF exceedingly plain
speaking adopted d resolution to ad-
lourn, which was what tlle gold blos.
insisted upon Secretary Hull alone
Sill hopeful and clingine to the inter
nationalist doctrines which the Pres
ldent had abandoned. argued for ron
Of the conference and finally
persuaded the other leaders To wifh
mold the adjournment resolution uutfl
further word had been received frou
Mr.. Roosevelt.
Inc PRESIDENTS second comnunica.
ton was more cOnciliatory id tone
but showed no disposition 70 refraar
from The position he had taken. He
asserted that the raising and stabilize.
ton OF commodity prices was the mn.
1or objective and the exchange valne
OF the dollar In terms az foreign c,r-
rencies a minor consideration
Delegates of France. Holland. Rel.
GUM, Italy. Poland and switzerland
The chief gold standard nations-met
informally and formed a monetary
pool which pins all their ,c-urrenciee
to another They also decided In
principle to form an economic union
THE wheat committee Of the econ
: onic conference alone accom-
pushed something IL announced thar
the United States. Canada. Australia
and Argentina. the great wheat nro-
duclng countries. had accented tho
plan for restriction Of acre,
age and production.
The agreement lis subject 10 the as
sent OF Importing countries to some
provisions for abolition of certain reg
ulations concerning milling and ouo
tas. The purpose or the plan ii thar
wheat should be raised in natural
countries and that European
efforts to foster artificial production
be abandoned
. PEAKER HENRY Il. RAINEY ex-
pressed the general thought Of
when he said that the
'~elfishness of foreign nations which
that the United States con
inue to give them trade advantages
s the real cause Of the difficulties
IT the London conference He de
Jared the whole country was hack-
ng the President In his stand on
currency matters
Speaking at the Independence day
Inner of the American chamber OF
In Paris. Ambassador
;traus vigorously defended the Amer
economic policy. When we read
q the daily press ne declared. ~of
ONE nations. whose friendship We de-
Ire and who should be our friends.
hat We r grasrIng. that We are
elnsh and that We are pursuing a
0iIrNn UnfN vnrN hln IN wrnrsd ~ ara