Evening star., 1936-07-10
TRADE OF NATIONS
HELD PEACE PATH.
Editor Tells Institute Eco.
nomic Security Is Needed
to End Wars.
Ry the Associated Press.

Ey the Associated Press
CHARLOTTESVILLE, Va, July 10.
DIR. Herbert S. Houston, New York
publisher and author, said today the
International Chamber Of Commerce
offered middle ground" path to
economic justice and world peace.
The road laid out by the interna-
tional chamber, he told the University
of Virginia Institute of Public Affairs,
is being followed by 80 competing ma
tions with more or less success"
That road has secured this degree
of international approval" he said,
for the reason that its starting point
to world prosperity and peace are the
internal prosperity and the internal
peace of every nation. In brief. il
nations have a fair degree Of security
and prosperity at home they will not
fight for them abroad"
Side by side with virtual universal
hatred of war, there Is an almost uni
versal preparation for war, DR.. Hous-
ton said.
Surely since the world began" he
added, there never has been more
illogical topsy-tursydom, more COM
plete contradiction"
Failed on Three Continents.
Collective security as organized by
the League of Nations has, to degree,
failed on three continents. the speaker
declared He cited the cases of Man.
churia in Asia, the Chaco in South
America and Ethiopia in Africa. Dip
lomatic developments in Europe indi-
cate further, he added, that alliances
are again on the way to replace the
League, in whole or in part, in an
effort to gain security for Europe"
America, he said, has made prom
1sing beginning in reciprocal trade
treaties, expressed willingness to con-
slider currency stabilization and to
consider final settlement of inter-
national debts. The strong senti-
ment" for the reduction of arma-
ments would quickly become over
whelming If a feeling of genuine
security could be firmly established"
he said.
How trade barriers affect commerce
between the nations of the Americas
vas told by w. E. Dunn, assistant
director of the Bureau of Foreign
and Domestic Commerce, speaking be-
fore the round table on Latin Ameri-
can relations.
Traces Developments.
Dunn traced the development of
trade restrictions since the colonial
days when the Colonies were permitted
commercial relations only with the
mother country. down to the present
days of reciprocal agreements.
Arthur Ballentine, New York at
torney and former undersecretary of
the Treasury of the United States I'M
der President Hoover, made a plea
for balancing of the Federal bud
get in talk before the round table
on current problems in business and
finance sponsored by the New York
Stock Exchange
The present administration policy
Of borrowing and spending, he said,
"erodes the financial resources of the
country just as improvident cultiva-
ton of soil destroys the permanent
support of agriculture.
Wlldt lids UeeIl happening, lnere-
fore. is that the Government through
its policy of spending far more than its
revenues Is gradually taking over the
resources of the banks and insurance
companies, substituting Government
o US for the normal varied business
investments of these institutions" he
asserted.
Truce Of Fault Finding.
Colby M. Chester, chairman of the
General Foods Corp. and president of
the National Association of Manufac-
turers, addressing this same round
table asked on behalf of American in
dustry truce of fault finding and in
dictment and "a new day of tolerance
understanding and helpfulness" in an
address on the responsibilities of cor
porate management.
John Temple Graves, I'd, columnist
OF the Birmingham Age Herald, pic
tured the South last night as offering
the greatest new market in the coun-
try on condition American industry
give hostages" for its development.
With third of the people. third
OF the territory and a third of the
natural resources, the South today has
about one5seventh of the wealth of this
Nation he told the University of Vir-
ginia Institute on Public Affairs in an
address on "Industrialism and the