The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-07-13
COX PUTS new LIFE
NT0W0RLDPARLEY
WITHST|RRINcPLEA
American Delegate convinces
Colleagues Much Can Still
Be Accomplished

London, July 13.-(P)-New life was
injected into the drowsy world eco
nomic conference Thursday by James
M. Cox of Ohio who convinced his COL
leagues of the steering committee that
the party could usefully continue des-
pite refusal Of the federal reserve
board to consider cooperation with
central banks.
In a fighting speech which one dele
gate said "curled the hair" of the
leaders of the conference, Cox gave a
clear exposition of American diff
culties and induced the committee to
agree to keep working at the problems
of silver and commercial indebtedness
Prominent gold bloc delegates had
taken the position that the federal
reserve boards veto on discussion Of
central bank cooperation had effec-
lively put an end to all discussion Of
monetary matters.
Indeed there was an expectation
Thursday that central bank coopera-
ton might after all be dealt with by
eliminating features of the resolution
which were Objectionable to the fed
eral reserve authorities.
It was understood this possibility
was being taken up with Washington
The federal reserve was reported
Wednesday to consider such discus
sion premature, but 1t developed the
board really considered agreement al
this time on central bank cooperation
was premature.
Offer Wage Resolution
Continuing their drive to rejuvenate
the parley, the American delegation
presented resolution to the econom-
ic commission calling for shorter
hours of work and increases in wages
Urging on his efforts to restore the
world price of silver, Senator Key
Pittman of Nevada submitted a SUBJ
stitute resolution designed to prevent
debasement of silver coinage or DUMP
ing of the white metal on the market.
This new measure, which did not at
feet the gold provisions of the original
Pittman resolution, was laid before
the Subcommittee on silver which adj
journed until Thursday without TAX
ing any action on it.
Russia's proposal for a universal
pact of economic non-aggression and
for extending import possibilities of
various countries came up for formal
discussion before the economic COM
There also was debate. on a French
plan for public programs to relieve
unemployment.
The text Of the American resolution
On hours and wages follows:
Representatives OF the powers par
Licipating in this conference, consid-
ering that unemployment and conse-
quent great distress are now preva-
lent throughout the world. considering
that existence Of this situation IS one
IF the gravest problems with which
are confronted at pres
ent.
Declare that they view with favor
hours Of labor and rising
;cale of wages which should increase
IN proportion to the augmentation of
It was learned authoritatively
that behind the scenes of
the conference quiet diplomacy is
opening the way for negotiating Sc
les OF trade agreements when Secre-
AIRY Of State Cordell Hull and his
colleagues return to Washington.
The first Of these Is expected to be
With Argentina. Canada, Mexico,
Ind various Latin American nations
Will probably follow. Japanese dele
yates also have approached Hull on
he subject.