Evening star., 1936-07-21
Conferences.

Whether by design or accident, there
come simultaneously from different quar-
tiers proposals for more international
conferences as a means OF setting the
worlds house in order. London is pro-
noting an immediate three-power dis
cussion among Great Britain. France
and Belgium. Later, the British would
assemble all the Locarno powers, includ-
ing Germany and Italy. Then, on top OF
these preliminary meetings, there would
be superimposed grandiose conference
of the five Locarno powers, Soviet Rus
eia, Czechoslovakia, Yugoslavia, Ru-
mania, Poland, Austria, Hungary and
Bulgaria. The British purpose is to
bring virtually all Europe into round
table negotiation for obliteration OF
rivalries suspicious and animosities gen.
erally recognized as breeders of war.
Coincident with this spacious aspira-
ton is the proposal of DR.. Nicholas Muir
ray Butler, president of the Carnegie
Endowment for International Peace, that
the United States, as "the worlds great
est creditor nation" should summon an
international credit and trade conference
in order to avert tragic results. Just
returned from visits with European
statesmen, DR.. Butler reports 1t as his
own and their view that many nations,
now meeting their needs by borrowing,
probably will be unable to obtain further
credit by the end of 1887. 1t is generally
feared that unless measures are taken
to cope with that situation, there may
be a devastating collapse. DR.. Butler
does not foreshadow inevitable war, out
If it comes, he is persuaded no great
nation can escape involvement. It Is IN
"the control of japanese public policies
by the military element and the neces-
stiles of the dictators who control Tor
the time being the governments OF Italy
and Germany" that DR.. Butler sees the
most acute peril. He thinks the one
practical method to prevent unprece-
dented "world breakdown" is to cause
trade to expand in normal fashion py
restoring confidence to capital and
credit markets"
Amid the preponderant American ma
tionalism reflected in the 1886 platforms
of the Democratic and Republican
parties, there is slight prospect OF Amer
ican leadership in world paclflcation
efforts. Three years ago this month the
london Economic Conference, convened
to grapple with the very issues deplc'eo
nv DR.. Butler as vital to peace, went on
the rocks largely because of the United
States unwillingness at that time 10
enter into monetary and tariff commit
ments. Since then, through reciprocal
trade agreements and repeated exnlpl-
tions of interest in international dis
armament, this country has consistently
manifested its readiness to join in prac-
ticable ways and means to solidify worio
peace.
There is little doubt of eagerness on
the part of European nations to regain
access to American credit facilities. AT
any conference called on the United
States initiative, concrete proposals 10
that end could be promptly expected.
But with ten billion dollars OF defaulteo
war debts, in addition to "a per cent
default in five billion dollars OF foreign
dollar bonds issued by twenty-four ma
tions, there would be small enthusiasm
here for any international peace" con-
ference program that threatened merely
tn lead to fresh raids on American
capital.