Evening star., 1936-07-08
FREEDOM IS URGED
FORPUERTO R|CANS.
Island Educator Opposes
Statehood Before Public
Affairs Institute.
By the Associated Press.

CHARLOTTESVILLE, Va, July g.
Independence for Puerto Rico rather
than statehood, autonomy or the pres
ent colonial status was urged by Julio
Garcia -Diaz, dean Of the University
Of Puerto Rico, before the Institute of
Public Affairs at the University Of
Virginia today.
Dean Garcia-Diaz, who opened the
discussion before the round table on
Latin American relations. opposed the
admission of Puerto Rico as one of the
United States because such a step
would be incorporating distant, nom
contigous piece of territory with a
homogeneous population which will
never be truly American in nature"
Independence granted to Puerto
Rico would foster liberty and freedom
and would contribute to the happiness
Of the island people and would, he said
further, not break the bonds with the
United States, but would establish
them more firmly between two people
who must realize the unalterable in
fluence Of geography and should strive
to live in close connection and for
their mutual benefit"
Foreign Loans Distant.
DR.. w. w. Cumberland, economist
for the New York banking house of
Wellington & Co, told the round table
on international good will that while
foreign loans and investments have
undoubtedly advanced the economic
welfare Of the world. they have not
had an equally favorable result upon
friendship between nations.
Experience with war debts has
been unhappy" he continued. "Arbi-
trary default on war debts. especially
by those countries we'll able to pay,
has not improved international good
will. Arbitrary action Of a retaliatory
nature on our part would be equally
ill-advised. Legislation prohibiting
foreign governments from borrowing
in the Uoited States when they are in
default on outstanding obligations is
childish and irritating"
In a discussion of credit control be-
fore the round table on problems OF
business and finance. Edmund Platt,
vice president of the Marine Midland
group and former vice governor of
the Federal Reserve Board. observed
that at the present time the United
States is on a gold standard, but for
the rich only.
Still on Gold Standard.
"We have an enormous stock of re-
valued gold. nearly eleven billions of
1t, with currency circulation Of Sc, 600,
900 1000" he said. I'VE are on that
gold standard now for all practical
purposes. 1t only remains to make it
little more certain. barring further
devaluation and making our currency
definitely redeemable in gold, in coin
as well as in gold bars
Agreeing with Mr.. Platt that credit
can be influenced but not controlled, DR.
w. Randolph Burgess, vice president
of the New York Reserve Bank. said
I'VE say that the Reserve system has
the power to influence credit but sell
dom use stronger word and it makes
shudder run up and down our spines
whenever we hear the advocates OF
monetary management and price sta
bilization talk as freely and blithely as
they do of the control of credit.
pr. Burgess suggested that the pres
ent monetary system of the United
States in its relation to the rest of
the world is similar to the position oc-
cupied in the early twenties. that this
country has great economic strength
in the midst OF a disordered world
and that now. as then. there Is a sue
ton of funds away from Europe.
Control Not Impossible.
George v. Mclaughlin, president of
the Brooklyn Trust Co., speaking be-
fore the same group. took the position
that control of credit Is not neces-
sarily impossible" But he explained
that "as long as the spirit of inde-
pendence dominates American life you
will find it very difficult to regulate
credit volume"
THE foundations of democracy are
secure because they are laid in eter-
nifty" DR.. John Archibald McCallum.
clergyman and author and chairman
of the Philadelphia Committee on
Race Relations, speaking before the
round table on "The Church and the
Problem of Democracy" said.
Our Government today, with all its
deficiencies, is doubtless as good as
we deserve" DR.. McCallum continued
I'VE shall have q wiser and juster
Government when we are worthy of 1t.
Our job is to discover the foundations
Of democracy and to build upon them