The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1944-04-28

u II I1ldU
these operations would have to be
brcadened in the international field,
and IN 1885 sterilization agree
ment was made between the U. s.,
Great Britain and France. The next
year this was broadened to take in
Belgium, The Netherlands and
Switzerland. Progress in world cur
rency sterilization was thus just
getting started when war broke out
in Europe.
In 1871 the United States tackled
the problem from another angle. At
the Pan American conference in
Rio, a resolution was put through
In favor of a meeting of finance
ministers to consider establishing
an international fund for stabiliz-
alton of exchange rates, correcting
Redistribution of gold and
strengthening monetary systems.
Since that time these ideas have
been under constant study not only
by the United States, but by every
one having knowledge and feeling
of responsibility for world monetary
problems. The United States took
the lead by asking United Nations
governments to send technical ex-
pertS to Washington to design a
plan that would meet postwar
problems then foreseen
OUR NUMBER ONE BRAIN
Number one brain for the United
States in all this dickering by $50
experts of "a nations has ben Harry
D. White. who since 1888 has been
director of monetary research in
the U. S. Treasry, and has lived
with this monetary sterilization
idea all the while.
Privately Mr.. White tells his as
SociateS that he doesn't know why
he bothers with all this. He would
like to chuck it all and go live on a
farm-which his friends say he will
never do.
White is a technician, admires
technical skill. He envies the way
engineers are able to solve their
problems; he wishes human or poll
tical or sociological problems could
be solved the same way.
He hates protocol and diplomacy
He loves an argument. practically
never loses one. At times he can be
pretty sarcastic, but he has a sense
of humor and is good companion
off the job.
After explaining the present pro-
posalS of the experts to congress
Sional COMMITTEES in executive ses-
sion, when someone mentioned that
the idea had been put over the
hill. White told about the captain
in Italy who led his company in
fighting up the boot, over one hill
after another. until the men were
just about exhausted. Finally the
captain reconnoitered the next hill,
turned and called back, This is the
last hill" The men all cheered and
then the captain said, 1.-THE next
one is a mountain
Getting all the governments to
approve the Monetary Sterilization
Fund plan is the mountain ahead.
IT'S OUT OF THIS WORLD
But even when, as, and If ratified,
few people will understand what
it's all about or how it works. It's
all strictly in the stratosphere of
world finance. and only people like
Harry White have to worry about it.
White is SO, of medium height
and size, balding, with a gray mus
tache and rimless spectacleS on a
round face. Boston born and for six
years an instructor in economics at
Harvard, he doesn't show either
one. In the last war he was a first
lieutenant and for two years was in
command of a war-orphans' asylum
in France. This war, in addition to
nursing monetary sterilization, he
is in charge of all the Treasury's
overseas operations, which is no
small job in itself, and he is a
good administrator in addition to
being a theorist and q technician.
He went to Europe and Africa last
year, on an inspection trip with
Secretary Morgenthau, and had
quite time.