Evening star., 1933-06-10
STEPS TO SPEED UP
| PARLEY ARE URGED
Stabilized Money Problem Is
Studied by Trade Confer
enCe Delegates.
BY the Associated Press.

BY the Associated Press.
LONDON, June 10-Monetary and
exchange control problems came to the
fore today in preparations for the
World Economic Conference.
With the arrival of American bank
ing, financial and economic officials
and experts, the keenest interest was
aroused in world financial quarters over
a possible solution of what London
economic quarters call the American
enigma" - the American monetary
policy.
A drop this week in the dollar ex-
change has re-emphasized the vital i'm
plications in world financial affairs oi
the eventual sterilization of the dollar
De facto stabilization is being strongly
urged as prime objective Of the con-
ference, which opens Monday, with
representatives of 81 nations sched-
uled to attend.
Finance Experts on Scene.
Oliver NJ w. Sprague, assistant tc
the Secretary of the Treasury, who
with three other experts, George L
Harrison and J. Crane of the New York
Federal Reserve Bank and James War
burg, official adviser to the American
delegation, arrived yesterday, has said
that currency stabilization is more a
matter of stabilization of international
conditions than international agree
ment
This statement has led to the belief
that control of exchange rates in ef-
forts to smooth out fluctuations anC
achieve virtual stabilization may be the
best that can be expected pending the
development of an internal program
for an American business revival.
Secretary of State Cordell Hull, chief
of the United States delegation, has
pointed out that exchange stabilization
is only one step in the solution OF
world economic problems and unac-
companied by the removal of trade bar
riers, cannot succeed in restoring world
trade
Nevertheless. tariff experts doubt that
any progress can be made in readjust-
ments in that field without the achieve
ment of comparative currency stabili-
cation first.
Hope to Cut PreliminarIes.
Tha American delegates, meanwhile
in Nund of preliminary discussions
are urging steps to expedite the con-
ference.
A procedure such as has been fol-
lowed in previous parleys sponsored by
the League of Nations, In view of the
number of delegates at this conference
would indicate that two or three weeks
will be taken in preliminary speeches
another three weeks or SO in the Sc
lection and organization of committees
and several weeks of study by commit
tees before any decisions are reached.
The Americans hope the procedure
can be shortened SO that real results
will be evident in at least two months
Secretary Hull and Prime Minister
Ramsay Macdonald of Great Britain
met yesterday at luncheon in the home
of Ray Atherton, counsellor to The
American embassy. Great interest at.
tached to their conversation, because
of the imminence of the due date o1
the SIS ,950,000 British war debt install
ment to the United States.
Debts Not Discussed.
1t was said emphatically that the
debt was not talked about by Mr.. HUI
and Mr. Macdonald
Widespread attention also was paic
reports of the abandonment of a reso-
luton seeking flexible tariff powers fol
the President, but Americans here be-
lieved the American Tariff Commission
procedure gives some leeway in making
tariff adjustments
The arrival of former Gov. James M
Cox, vice chairman of the American
group and the four financial experts
was followed almost Immediately by the
beginning of discussions to frame the
American financial policy.