Evening star., 1940-08-08
American Republics
Study Hemisphere
Trade Program
Committee to Begin
Working Out Details
At Meeting Today
Ey the Associated Press.

| Ey the Associated Press.
The American republics began
formal consideration today of meth
DDS to relieve and develop the econ
omy OF this hemisphere under the
broad program adopted at the Ha-
vana Conference of Foreign Min
listers.
The Inter american Financial and
Economic Committee. composed Of
representatives of 81 nations, set
aside its weekly meeting to a de-
tailed study of the measures ap-
proved at Havana and steps neces-
sary to carry them out.
Sumner Welles, Acting Secretary
of State and committee chairman,
said that it would canvass the field
of existing and prospective economic
problems growing out of the Eu-
ropean war and the application of
proposed remedies.
Heading the list was the mounting
surplus of commodities of some
Latin American countries to which
former European markets have
been closed by the war.
Jones Urges Loan Bill.
Spearhead Of the United States
attack on this is the administration
bill before Congress to increase the
lending power of the Export Import
Bank by 500,000,000.
Jesse Jones, Federal Loan admin
istrator, testifying in support of the
bill before the House Banking Com
mittee yesterday, said the potential
benefits OF loans to South and Cen
tral American countries justified the
risk of losses from revolutions or
debt renunciations.
I'VE can afford to lose the money
better than we can afford not to take
the risk" he said.
Secretary of State Hull called the
measure essential to economic de-
fense of the hemisphere.
Crawford Charge Denied.
Representative Crawford, Repub-
lican, of Michigan told the House
committee he understood that Milo
Perkins, president of the Federal
Surplus Commodities Corp, had
been sent to Havana to negotiate
the loans with countries which
would promise to back the resolu-
ton barring transfers of title of
! European possessions in this hemi-
sphere.
Mr. Perkins told reporters that
Mr.. Crawfords statement was alb
surd. He said he attended the con-
ference to discuss with agricultural
officials their methods of disposing
of farm surpluses.
Looking beyond the immediate
surplus emergency to further trade
dislocations resulting from the war,
the Havana conference instructed
the Inter-American Committee to
develop long range plans to protect
and strengthen continental econ
omy.
Program Looks Ahead.
These included development Of
commodity arrangements among the
American countries to assure "equi-
table terms Of trade for both pro-
ducers and consumers" and credit
or other measures of assistance
which might be necessary in the
fields Of economics, finance, money
and foreign exchange.
In adopting this program at
Havana, Secretary Hull said the
American nations envisioned the
possibility that after the war many
European markets might be in the
hands of governments (which re-
gard international commerce as an
instrument of domination"
The economic system proposed for
the American republics, Mr.. Hull
said, was one under which they
would be prepared to trade with
any nation willing to meet them in
good faith and under which
they will be fully equipped to pro-
tect themselves against any other
| kind of dealing"