The Waterbury Democrat., 1934-03-02
By RODNEY BUTCHER
(The Democrat V aslIingtOn Cor
 respondenD

&<Thc Democrat '. asllingtOn Cor
 respondenD
 &Copyright 1894, NEA Service, Inc) = Washington, March 2--American Foreign policy, in Roosevelt's first ~year, became a tail to the kite of
 pur domestic recovery program.
 We can get, in all probability. n fair measure of prosperity return n3n the United States" said Roose- ~veIt last May, before the World sl1Economic conference. But 1t will ~not be permanent unless we get mreturn in prosperity all over the world"
 = The administration now seeks shat flair measure of prosperity" eAt home Failure of the London
 conference pushed 1t along the path sspf nationalism.
 = American industry and agricul- Nture are to be protected, as far as
 possibie, from the adverse effects .,pf developments abroad. We are
 seeping out of foreign entangle- eanents, but--in Roosevelt's words
 -"we're still Yankee traders" and
 I've will pick up all the advanta- sgeous foreign trade we can get. - Along with this economic poll Tcy goes a determination to main- 1ain strong naval defense and q settled position against armed ag- ,sgression of all types.
 sOld Policy Fails
 The Roosevelt policy has been scalled "intranationalism" and em- ,sbodies the idea that 8 nation first isanust be strong within itself if it -fs to help others.
 M Some new kind of foreign policy lhBeemed required even before the ,Tecovery programs were formulat- Ted. The postwar system of lend- .1ng money to foreign countries so sIhey could pay debts and repara ssfions and buy our exports despite M Attempts at international CO., &Dperation had shown that nations sswero unwilling to sacrifice dome1- Ntic policies at the behest of other ~hations. NSA certain amount of fumbling nny debts tariffs, international T 1monetary stabilization, and arma- Iments marked the early phase of s<bHo 4NcW Dtdi IoISibh iciotioiio . Roosevelt hoped for more than she could get at London. Farley Blows Up
 The president sought a rise in .~khe world price level. He knew he ~flad to raise prices at home, and world prices were 50 low in terms ~of gold that he couldn't tie our %dollar to them.
 The primary aim of the London ~conference was currency stabili- -zation and that really went out mAfle window, as far as we were wconcerned, when 1t proved impos- %siblc to sell the price-raising cam- Npaign to other nations. = The blow-up at London came ewhen, after the American delega- @-tion appeared to have fallen for @the French plan of temporary Rehabilitation, Roosevelt abruptly sswarned the conference that it was ~headed for catastrophe amount ing to world tragedy"
 It was a hot message; Roose- xvelt felt he was calling the French 1bluff. It was either F. D.'s fault For the delegations that his view Hpoint hadn't been presented ably
 and firmly to the conference ~ At any rate, the conference spetered out--with only g. silver ~agreement achieved and Roose- ~~ve1t turned to devaluation of the rdollar and his domestic prices. sWins Southern Friends Foreign policy since has been .fimed at developing friendly rela- ~tions with areas offering opportun- ~ities of strategic trade and politi- @caJ ra anprOchementS