The Wilmington morning star., 1940-07-23
LATIN AMERICA IS
OFFERED LEADERSHIP
AND MONEY BY U. 5.
Continued From Page One)

III WI1C11 M w
maintain stable self-government."
His words, gravely spoken, gave
further emphasis to an already
formally presented note warning
Germany and Italy the United nj
States would resist, along if neces-
sary, any attempt to lay hands on
French, British or Netherlands CO.
lonies in the new world.
Hull spoke at an open afternoon
session in Cuba's great marble
capital following a closed morning
session at which commissions were
set up to deal with vitalproblems
Of hemisphere defense and econo'
my.
At the morning session the Unit.
ed States took a place or the inn
portant peace commission which is
to canvass the whole question OF
continental defense as well as the
future staus tot European colonies
in he Americas. 3
On the econimic side, Hull pre-
sented, a program designed to re-
lieve existing distress and to set
up ~long-range preparations to meet
postwar world conditions.
Reaffirms Faith
Describing the wars %dislocation
of normal trade and the growth of
opposite trading methods, he re-
affirmed his faith in liberal trade
principles and urged the republics
to develop these.
But he recognized the need for a
transition to methods themselves
bordering Oozjq fmoy and a res
trictive system to bulwark the
hemisphere's economy against reg
imented devices.
Disposition of stagnant SURPRISES
piling up in all American countries
as a result of the loss of European
markets was described as the most
pressing problem.
The delegates greeted warmly
President Roosevelt's Recommended
ton to congress for aid in DISPOSE
ton of Latin American surplus
commodities through the export-im-
port bank.
Good News"
DR.. Leo S. Rowe, director-gener-
al of the Pan American union, des-
cribed as good news which comes
at the right psychological moment
Mr.. Roosevelt's action in seeking
a half-billion dollar increase in the
banks lending capacity for tn j S
purpose.
Ambassador Jose Santiago Rod
riguez, the Venezuelan delegate,
said the Presidents action as "a
magnificent gesture"
The Bolivian, Chilean and Argen-
! tine delegates likewise expressed
firm approval of the presidential
action.
Hull urged creation of facilities
for temporary marketing of surplus
commodities and the development
of agreements to assure equity for
producers and consumers.
The first step is designed to
thwart any attempt by Germany or
others to gain economic, then poll
teal domination of any American
country through individual barter
dealings.
The second step is intended more
for long-range development of spec
ial commodity agreements or pools
apparently patterned after the in
ternational rubber and tin cartels.
This plan, bordering on monopo-
listic control, is broad enough to
take in any important commodity
such as coffee, wheat, meat and
minerals which some countries
must export to live.
One Method
Hull indicated one method of dis
posing of present large SURPRISES
might be relief distribution.
Hull's proposal for Strengthening
and expanding activities of tn e
inter-American financial and eco
nomic advisory committee was be-
lieved intended to bring in experts
in various fields to intensity the
scope and action of the committee,
now mainly political in character.
The inter-American bank lso
promised to play an important part
in the economic program. The bank
which is not yet in operation due
to lack of notifications, was pro-
posed at the Panama meeting last
year. 1t would be capitalized at
$1OO, 900, 900.
The United States is among the
countries which have not yet rati-
fed the Panama convention, but
Hull said it was being rushed and
urged other governments to a t
promptly.
While Hull acknowledged the nee
essity of adopting temporary mea-
sures not in strict conformity with
free trade principles because of
present world conditions, he main
tanned liberal policies offered the
only hope for world rehabilitation
and prosperity.
Campo Joins Hull
Miguel A. Campo, Cuban secre-
tary of state and conference presi-
dent, joined Hull in denouncing
selfish and implacable military
imperialism"
He told the conference:
Men from other attitudes, with
totally different notions of our
brod and generous conception of
life are a cause of anxiety to the
people of the Americas, taking adj
vantage of an easy i%nfiltration so,
perhaps at an opportune time, they
uinlate o11r faith and take