| Show 1 r WORLD PARLEY FACES MONEY CLASH 4 I Billie Battle Expected J Between French U. U S. S Delegations Delegation Contest Centers Around round Selection of cli ii man H Hull Calls for War to I Break Trade Barriers o oBy By JOSEPH H. H BAIRD Copyright 1933 by Unit United d Press LONDON June 14 A 14 A heated F Franc Franco American light fight over chairmanship of ot the important monetary commission n of the world economic was in the making today d y The contest appeared likely to io I break tomorrow at ata at-a a meeting of the bureau steering committee of the conference The meeting was WM moSt first scheduled for tonight but later post until noon tomorrow t to give the contestants a chance for informal negotiations to avoid an open clash which however appeared inevitable The French are unwilling to accept James M. M Cox as chairman because of the inflationary policies poUch s of the United States Secretary Secretary-of of State Cordeli Cor Coro dell deli Hull HuU was holding out for chair chIr chairmanship manship ship of th the monetary conter conference nce or nothing despite earlier reports that he would accept the chairmanship chairmanship chairman chairman- ship of the economic commission in stead Hull Hulland and Neville Chamberlain British Brit ish chancellor of of the exchequer conferred conferred con can long and earnestly in the co cor this afternoon The United Press was reliably In Informed informed in in- formed that the United States had been assured of British and Canadian support for lor the monetary chairman n ship It Is argued against France that since she is the leading country on OR ORthe the gold standard and has peculiar pecullar Interests interests interests in in- at stake that she should Dot he head the committee Stability of the dollar anc and pound may be attaIn attained d within a few days dasI after alter which the c conference can get down to to Fr Ii nance Minister Georges Bonnet said Mid tonight Hull Voices Plea f for for- r. r Economic i Peace ceIly co ce coBy Ily By HARRY United Press Press' Staff Correspondent LONDON June 14 The 14 The United States called on the world today to banish economic nationalism break breakdown breakdown breakdown down trade trader barriers establish a sane monetary system and pull pull- together to end the tragic burden oppressing all nations Secretary of State Cordell CordeR Hull HuU faced an expectant and receptive International international in In- audience at the world economic conference and offered his hit country's wholehearted cooperation to end economic wars He asked the conference to create a will and a d determination determination de termination to follow such a course Definite plans would come later While he spoke Washington and London were arranging what was believed be be- lie to be a mutually satisfactory compromise on the troublesome the British British Brit BrAt ish war debt problem Hull pointedly ignored the injection of the debt issue into the conference by previous speakers He Hc warned the conference against selfish obstruction by any nation of ot its work asserting that any nation which did so would merit the execration execration tion lion of mankind His speech earnestly delivered was received with enthusiasm by the delegates dele gates and was loudly applauded After Hulls Hull's speech the conference was further stirred when Maxim Maxima Litvinoff Litvinoff Litvinoff Lit- Lit soviet foreign commissar an- an Continued o. o on eu Pate Puo Two T PARLEY FACES MONEY CLASH Continued from Pa Page e One with dramatic effect cUed that given favorable credit and export con con- the Soviets might soon place in orders abroad in excess ex cx- cess of their presently planned foreign foreign for for- eign purchases The bespectacled Litvinoff ii in strong strongly accented English declared specifically that the Soviets in the future could absorb about worth of ferrous metals worth of raw materials for textile textile tex tex- tile leather and rubber industries and worth of machinery including railway equipment He also cited his country's readiness to purchase purchase purchase pur pur- chase coffee The significance of these figures Litvinoff said will be more evident it if f it is realized that they amount to between 25 and 66 per cent of ex cx- sting world stocks with respect to metals like aluminum nickel copper coper copper cop- cop per er and lead per cent In the case casc of some of the consumers consumers' goods mentioned mentioned men men- third one-third of the annual world export of ot machinery and per percent cent of last years year's shipbuilding output Litvinoff sardonically remarked he assumed most countries represented at the conference were Interested Inthe Inthe in the he export of the commodities men men- He urged other nations with similar similar- frankness frankness' and precision to specify their import potentialities He reminded the conference that his proposal at Geneva in 1931 1031 for foran foran foran an economic pact was itself the victim of aggression Responding to Hulls Hull's request for reinforcement of the tariff truce Lit Lit- announced the Soviets' Soviets consent consent con con- sent to an an economic truce adding that an armistice means cessation of all fighting not merely abstention from beginning fresh battles Supplementing the economic truce he said the soviet delegation would propose an nn undertaking for the simultaneous suspension by all countries coun coun- tries of all legislative and administrative administrative adminis adminis- measures for economic war fare Hull was absent during the Litvinoff LitvIn- LitvIn off Mf speech although the other members mem memo bers of ot the American delegation listened listened listened list list- ened to It Hulls Hull's associates said he intended no discourtesy to Litvinoff but was conversing with French delegates In Inthe Inthe inthe the corridors when the Russian spoke Litvinoff Lit evidently referred to the she United States and others withholding reco recognition from Moscow v when he recalled in his speech that some states have not yet et effectuated the principle principle plc of the international economic conference con f ference rence of 1927 admitting the peaceful peaceful peaceful peace peace- ful coexistence of the capitalist and socialist systems Then aiming at Britain's trade embargo he cited countries which arc are reviving barriers which had once been removed against the economic cooperation with the Soviets Thomas Lebreton Lebreton- of Argentina announced announced an an- his country was ready to join other nations in reducing tariffs tarU and trade barriers and was and was willing to cooperate co cooperate operate for success of the conference although there must be no political or commercial preferential treatment treat treatment ment ment Equality of treatment Is i essential to world word production he said said He particularly denounced import quotas and embargoes es based on sanitary sani saul tary tary- reasons reason the latter obviously aimed at the United States Hull Hul In his address cast castigated economic eco ceo nationalism as practiced since the warThe war The cherished idea of the extreme type of ot isolationist that each nation naton singly can by bootstrap methods lift lt itself out of or the trouble that surrounds surrounds sur sur- rounds it has ha proved fruitless he hc continued Each nation naton Hull Hul said ald must help itself itel domestically as President Roosevel Roosevelt Roosevelt Roose Roose- velt vel is doing but this thi must mut be supplemented supplemented sup sup- by international action acton International trade he said has ha been strangled from more than 50 the amo amount nt it should be according to the prewar rate of growth growt to less le than Each country proposes to sell sel not buy he added Hull Hul urged the lessening leening of trade barriers and general adherence to the existing tariff truce The Te whole panic ridden world is i looking to t this thi conference for leadership leadership leadership lead lead- with wih a program of basic relief re no- le lief he said aid The success or failure of ot this conference will wi mean the success or failure of statesmanship statesmanship statesman statesman- ship everywhere and a failure at this crucial time would long be conspicuous ous ou in history Hull wearing morning suit sui and tails tails swallow was applauded loud loudly and lengthily as he went to the rostrum rostrum rostrum ros ros- trum a minute after the afternoon session session ses ses- sion sian began at p. p m. m After adjusting his spectacles and shifting slightly from one foot to another another an an- other he lifted his hi head causing causing- his black eyeglasses to dangle and began He spoke slowly and evenly without gestures and with wih t 1 cut clear cut cear-cut enunciation and good era em ra r The assemblage listened with S deep interest cs and many bent forward wIt theIr elbows to catch every word r. r Hun ul on raised his hi voice voie at pints points WOld especially to emphasize that nations naton cannot re cover and pJ pleaded for the cooperation of all al nations I He said the conference must ra face ethe e the vexed problem of a permanent 1 monetary standard lay down the proper function of gold and silver and anc remove exchange restrictions restrIction The ad American delegation is Te i prepared to offer concrete suggestions on those thoe t j 1 problems problem although it i did not not do so Ot today Hulls Hull's cut clear expressions against again isolation ond economic nationalism created a good impression removing fear that the United Stat States might retreat Into It isolationism Edouard Benes perpetual f for lF r eign ein minister of Czecho CzechoSlovak Czecho spoke on behalf of the little entente entente Czechoslovakia Rumania arid ad and outlining toe the ententes entente's financial and economic policy He Ho showed that the entente is firmly firm firm- ly Jy- Jy behind France rance especially regard ing the necessity of the earliest pos paz sible restoration of the gold cold stand stand- ard Bela de do Imredy Hungarian finance finance- Inac minister appealed for a reduction of Hungary's foreign debt service and urged early cary removal of ot servie foreign exchange exchange ex- ex change restrictions by all aU powers After the plenary session sessio powers had adjourned adjourned ad ad- until unU tomorrow Hull said Hul he was much encouraged by the thc progress thus far far farI tte I am especially encouraged by the f speed made in traversing the speech making period of the conference the secretary told the United Press Pres Hull te has ha proposed a rc resolution limiting Hul the conference to six weeks but he said if i progress continues at the present pre pros pres ent rate It i may not be necessary to call calt it up |
