Evening star., 1937-05-21
j. s. H|NTED READY
FOR FISCAL PACTS
Morgenthau Reported Open
to Negotiations for Series
of Bi|ateraI Treaties.
By the Associated Press.

By the Associated Press.
Financial authorities speculated to-
day on whether the administration,
shying away from general monetary
conferences, would negotiate currency
agreements with individual nations.
Some said the disclosure by Treas
ury officials that Secretary Morgen-
thau prefers to deal with nations
singly on money matters indicated
series of currency talks may develop
looking toward stabilization and the
relaxation of exchange controls.
Other informed persons, however,
expressed the belief Morgenthau's
stand merely was new demonstration
Of past administration policy. They
predicted the Treasury would continue
to listen to any currency proposals Of
other countries, but would not aggres-
sively seek such pacts.
The question of a general confer
enca and of Secretary Morgenthaus
reported attitude was raised at Pres
ident Roosevelt's press conference
today. The Chief Executive reserved
direct comment, replying to his ques-
toner by asking in effect what would
be the use of calling monetary con-
ference unless it was known before
hand the conference would produce
good results.
Morgenthau held a luncheon meet
Ing yesterday with Cesar Charlone,
Uruguyan minister of finance, and
j. Richling, Uruguayan envoy to the
United States.
Pan-American Farley Seen.
There was no word on what they
discussed but some persons considered
the meeting significant because Of
Uruguay's stand in favor Of a pam
American monetary parley during the
1886 peace conference at Buenos Aires.
Morgenthau talked last week with
Ambassador Oswaldo Aranha OF Brazil.
At the Pan-American Union, which
recently proposed monetary con-
ference between Latin American
countries and this Nation, officials
said there was slight chance it would
be held.
Surveying the general monetary
picture, authorities agreed a proposal
by Representative Dies. Democrat,
Of Texas for an international cur
rency congress probably would face
Treasury opposition.
Dies asked Congress to direct Pres
ldent Roosevelt to call conference
70 stabilize currencies on some per-
manent basis and distribute the
worlds gold and silver stocks more
equitably.
No Gold Plan Yet.
Treasury officials declined to dis
clss the Dies proposal specifically,
but other informed persons said such
. conference at present would face
some of the knottiest international
exchange problems In history.
These persons cited that the con-
ferees would find the United States
holding almost $4,000 100000 in gold,
or more than half the worlds visible
supply.
The administration has been seek
ing some method of checking con-
tinued heavy gold intlows from abroad,
but 50 far no plan has materialized.
Nations with scant gold supplies,
such as Germany and Italy, might
be eager to effect some agreement
under which they could acquire more
OF the metal to support their cur
Jencies, it was said. France, Great
Britain and others with stable hold
mgs probably would have little con-
cern.
Authorities said a conference might
develop controversy over the value of
gold as monetary base under present
conditions, but they added that most
nations probably would oppose aban-
doninp if entirely