Show PRAISES PlAN FOR ARMS GUT CUT Irving Fisher Professor of Political Pout Pout- ical leal Econom Economy Believes Reductions Reductions Reductions Would Quicken Return Of or World Normalcy NEW HAVEN Conn July 3 The action of President Hoover In proposing to the disarmament conference conference conference con con- ference at Geneva a reduction of nearly third one-third in the worlds world's armament marks an important step forward not only in the arms itself and in the arms problem but in the whole political political political ical and economic that has followed the world war The Hoover proposal includes the of tanks tants and chemical warfare the shrinkage by one- one tl third rd of all land armies beyond specified requirements for police purposes reduction in battleships cruisers destroyers aircraft carriers carriers carriers car car- and submarines It asks that the Kellogg-Briand Kellogg pact be Interpreted interpreted interpreted inter inter- as meaning that a nations nation's armies are to be used solely for defense It states that arms reduction reduction reduction re re- must be such as to afford real economic relief It is clearly the economic urge of the depression which gives such sucha a proposal its chance of tance lance Never before have nations I Continued on last page I PRAISES PLAN FOR ARMS CUT Continued from page 1 felt so great a need to count the cost of ot war and preparation for war The burden of armaments has for fully half a century been almost unendurable but today the burden is felt more than ever because because because be be- cause of the poverty which the depression depression de de- de- de has imposed Whether the Hoover plan be accepted accepted accepted ac ac- ac- ac modified or rejected is of little consequence provided there be something substantial accomplished accomplished accomplished toward the end which it seeks and for w which ch the conference conference conference confer confer- ence was called namely called namely a concerted concerted concerted con con- reduction in competitive armaments Unless something is soon done to prevent it there is grave danger that the nations will resume their competition In arma arma- ments Such a competition defeats it it- it self As fast as France for Instance instance instance in in- stance gets some added security security ty by enlarging her army and armament Italy will follow suit and so reduce Frances France's supposed I advantage to nothing or less than nothing The only advantage is 15 to tobe tobe tobe be ahead of other nations and such an advantage disappears almost as soon as it Is obtained The net result is like Wee that of the old rate wars between competing rail rail- ways They merely cut each others other's throats Any cutthroat competition whether in the rates of railways or In the arms of nations can be beI avoided only by some sort of com com- I If we are not to compete compete compete com com- pete with the rest of the thc world in armament we must combine with them in disarmament This important fact has not until now been recognized enough to be acted acted acted act act- ed upon But at last we have an international conference for this purpose And Hoovers Hoover's plan is his contribution to that end |