The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-06-03

favors default on the debt pay
ment due the United States June I5.
Chamberlains speech was made 10
a full House Of Commons. He said:
"AH of us, / am sure, regret the eco
nomic warfare which has arisen be-
tween us and other countries. But
we must maintain the warfare as long
as other countries which are taking
the aggressive are unwilling to make
reparation and restitution for the
wrong they have done u.s.
Chamberlain's remarks we're di-
rected in part against the Soviet
Union when he said: 1.-THE govern
ment must stand up, not merely for
the legal commercial rights of its
people, but for the rights Of their
persons, and it cannot view with in
difference attacks on this nation by
other nations when these attacks are
directed toward internal policies"
U. S. Calls for World Initiation
WASHINGTON June 2.-Gradual
distribution of the worlds gold supply.
and an internationally adopted Is per
cent gold coverage for currencies will
be the United States proposal to the
London Economic Conference, it is re-
ported. At the present time the Fed
eral Reserve Banks hold about SO per
cent cover against notes and deposits.
If the Is per cent ratio were adopted,
the government could issue here $11,-
O00,000000 Of new money-inflation
on a colossal scale.
Hull, leading tlIe United States
delegation in his first interview given
on board the S. S. Roosevelt, is said
to have stated: I'VE expect broad
agreements in principle rather than
specific treaties" to come out of the
conference. This is a diplomatic way
Of saying that he expects nothing to
come out of the conferences. He
again refused to comment on the
debts issue.
No Prospects of Agreement
PARIS, June 2.-The blacklist pes
simism, exists here as to the Econom-
ic Conference, even in official circles
The semi government newspaper LIE
Temps writes: There is nothing that
permits the belief that the war debts
question will be solved in good time.
British Economic Bloc Proposed
LONDON, June 2.-The current
monthly review of the Midland Bank
gives a hint as to the probable policy
to be pursued by England at the COM
ing Economic Conference. 1--WE be-
lieye," says the report, that even If
the outcome (of the Conference) falls
short of the high hopes now enter
tanned it will still be possible for
Britain, with its monetary associates,
to accomplish large measure of re-
covery independently Of any all-in-
elusive international arrangements"
In other words, England expects that
the irreconcilable financial conflicts
between the great powers will sink
the conference, but that she, with her
subordinate economic allies (such as
the Scandinavian countries, Portugal,
Argentina and the like will at the
conference be able to form sort Of
monetary bloc.
Little Entente Trade Agreement
PRAGUE, June 2.-The Little En-
tente conference between Yugo-slayia,
Rumania and CzechosloYakia, ended
yesterday with an agreement reached
to work out a preferential tariff sys-
TEN for the three countries. A joint
Economic Council will be set up to
increase the exchange of goods among
these states. 1t will deal with COM
mercial policy, agriculture, industry,
banking, credits and transportation.
1t will Immediately set up normal
izing" committee, and it was signifi-
cantly announced that This normal
izing process will naturally extend to
all branches Of military equipment"
This economic consolidation i'm
mediately before the economic confer
ence, follows the political alliance le-
affirmed last March. Titelescu, Ru-
manian Premier, asked how he re-
conciled his frequent professions Of
goodwill toward Hungary with his
refusal to allow any revision of FROM
tiers, replied: THE question Of Hun
garian frontiers has been exagger-
atsd. Our aim is to "Spiritualize"
frontiers, SO that their existence will
not be realized
Murder of Negro by