| Show HULL CALLSON CALLSON CALLS ON ONTO NATIONS TO REUNITE U. U S. S Envoy Appeals for Support Support Support Sup Sup- port of Continued World Word Conference GOLD BLOC IS FAVORED Probable Alliance of Countries Is Foreseen Br United Tress Press LONDON July 8 A 8 A statement callIng callIng calling call call- Ing upon the nations of the world to reunite in efforts to bring about su success sue suc cess for the w world economic conference confer ence was issued late today by CordeL Cordell Hull HuIl head of at the United States delegation dele gation I 1 am confident that the majority of the delegates of the 66 nations represented represented represented rep rep- resented at the conference heartily support the decision to continue Secretary of State Hull HuIl said He listed seven points which he considered available for profitable arid anil added We c cannot pretend that we have exhausted the resources man manship ship when we have not even superficially super examined these problems I His statement came after a a day i ir In which he had conf conferred with the lead ers of several other delegations nULL HULL STATE STATEMENT The text of Secretary Hulls Hull's statement statement statement state state- ment follows I gather from comments in the newspapers that what is desired is a recital of the questions which are arc Capable capable ca Ca- pable of ot consideration under existing conditions I I would list for example price levels credit policy individual anc and external indebtedness producers producers' agreements the innumerable prohibitions and restrictions strangling mutually mutually mutually mu mu- profitable trade transactions retaliations and countless other war var- breeding trade practices and methods We cannot pretend we have ex cx exhausted exhausted hausted all the resources of statesmanship statesman ship when we have not yet even superficially superficially su suo p examined these problems all of which are listed on the agenda All those who believe in international international equity must rejoice in the d de decision dc- dc of the bureau which bureau which is also the s steering ering committee to to have the economic conferences go forward I have conferred with the leaders of many delegations and land am confident coni dent that a majority of the delegates of ot the 66 nations represented at the conference will heartily support that decision We have assembled here from lom every corner of or the world to de deal l with the fundamentals of the program con contained tamed in the agenda We would betray betray be be- tray the responsibility la laid d upon us w were vere we wc to adjourn the conference in the thc face of f the thc first troublesome issues which beset o our pa path GREAT DIFFICULTIES We all know the difficulties arc are great we have known that from the outset We need only to summon fresh fresh- r resolution to surmount the im immediate immediate im- im mediate obstacles and approach our task with deeper understanding of our respective viewpoints Every nation will benefit it we succeed in standing united against the thc Continued on OD Pa Pate Pace e Two HULL CAllS CAllSON ON NATIONS TO REUNITE Continued From Pare Face Pae One common enemy enemy un universal enemy universal economic prostration No greater opportunity could be presented to statesmanship than confronts con con- fronts this conference To let this thi opportunity opportunity op op- op- op of advancing the common comon good god be lost because we are unable to t o rIs rise above transitory complexities would greatly greaty hamper us u and would rightly earn ear for us the cond condemnation of f history The Hull Hul statement was Issued af af- af tr er the United Unite States delegation had hac met to consider yesterdays yesterday's memorandum memo memo- memo from President Roosevelt Roosevel which it was wa emphasized again agai constituted con con- merely an amplification o of previously expressed ideas idea and no not new instructions to the delegates Gold Standard Nations Combine PARIS PARtS July 8 even a-even Seven 8 Seven gold standard standard stand stand- ard and nations of Europe holding half hal hal the worlds world's gold toda today reached com corn agreement to form a defInite gold old bloc until monetary normalcy has las been restored The nations France Italy Ialy Belgium Holland Holand Switzerland Poland anc and Slovakia Czecho-Slovakia Slovakia are pl pledged under unde the he agreement to do nothing to prevent pre prevent vent vet normal movement of gold between be be- tween themselves for the balance o of payments French financial experts expert anticipated anticipated antici antici- the nations including Great Britain United Unite States Japan Argentina Brazil Chile Chie South Arica Africa Australia Canada India New Zealand Zea Zea- land and and Ireland would form a counter counter coun coun- ter bloc blo rallying perhaps 25 nations naton for or a united uie defense of monetary in i. i General principles principle of of the gold bloc bio formed ormed today toay at a n meeting held at atthe th Bank o of France were laid down as a follows 1 To maintain equilibrium of th the balance balan of payments Jt I I 2 To do nothing to t harm ire nee Iree movement of gold and the norma normal functioning of the gold standard 3 To seek a credit policy to permit permit per per- mit business busine to resume a norma normal credit basis baIs 4 To do nothing concerning moneys without consulting other bloc bio na nations ton The bloc blo published a at p. p m. m m. m Paris time te a. a m m. mC C. C S S. T. T stating that a complete a acord accord ac ac- cord exists exit among the seven nations nation involved concerning maintenance integrally of the present parity of cu currence cur cur- rence on a gold standard Clement Moret Moret Iov governor of th the Bank of France commenting on th the te formation of the bloc told the United Unite Press It I Is an Important fact that th the seven sven nations represented at the con con- ference ference possess pose 1 In excess of 40 per percent I cent ent of the worlds world's gold 7 to 10 6 Lineup Seen in Committee LONDON July 8 UP UP-A UP A seven to tox six x lineup in i the te world economic conference con con- ference steering committee In i favor of f full fun continuance of conference work was indicated today as delegates tes teson on n opposing sides In secret secre meetings sought ought to strengthen their positions position The lineup was v via apparent from a series erles of test votes in conference committees comlee which must report rep to the steering leering committee Monday regardIng regarding regard- regard ing ng the work they think may be use use- usefully fully ully undertaken in view of the refusal re- re re fual of the United States States' to embark on n a currency stabilization program I D Delegates legates of 13 leading nations naton on the he steering committee after studying study study- ing ng the reports will vote on the extant of the program to be pursued I Maintenance of the seven to six lineup would mean a victory for the I American contention that even with with- wih out ut currency stabilization the full ful conference program may be followed out ut by committees Another deadlock or defeat for the American America contention would mean continuance of the conference under undera a restricted program Cordell Cordeil Hull chief American d dele dele- le- le gate ate planned over the week-end week a series cries seres of meetings with wih other oter leaders to o map out plans for tor carrying on the te conference work Private negotiations alone were on onie the ie program today and tomorrow These Tese however will wi prove important in n that they will solidify the peal peal- pos ion tion ton of the gold standard and other nations lations In preparation for the steering steer steer- ing ng committee meeting So S far fr victory vie vie- tory ory has gone with wih those nations that have aligned themselves with wih the United States State LONDON LONON July Julys July's 8 JP J-A J After W-After After er haying hav hay Ing ng saved the life ue of or the world word economic economic economic eco eco- conference by his hi order to toight fight ight to the finish against adjournment adjourn adjourn- ment nent ment President Roosevelt Roosevel provided his Us delegation here today with wit more ammunition to strive for the parleys parley's success Cordell Cordel Hull Hul secretary of state am and chief of the delegation received a along along long ong cable message from his hi chief which while it i had not been entirely decoded at midday was wa known kown to contain guidance nce and was expected to o tender assistance in carrying the American presidents president's campaign for a worldwide price recovery Mr Roosevelt's latest move aroused entirely different emotions In the two embattled camps the camps the gold bloc and the he countries which support American Amen Ameri can policy The American group was Jubilant jubian at the prospect of ot being able to pr pre present sent concrete proposals to the parey par par- ley ey in support of their desire for treatment of the full ful original agenda STERLING DOLLAR BLOC Le Leaders ders of the gold countries however how ever declared that the presidents president's program is as i designed to solidify what they hey characterized as a the dollar stor ling ing bloc blo comprising the United States the British empire and a anu number num b ber er r of ot smaller states stat and assist it i to oppose the te European gold standard stand stand- ard and nations naton The new sterling dollar serling dolar-serling alliance alance was wa filled fied with wIh vigor as a the result of successes suc cees during the past two days and receiving new v Inspiration from the Indication that It i was being giver concrete material to place before the conference for consideration Opponents Opponent of the Anglo American party frankly admitted concern concer a at I seeing Great Britain swing away from the gold bloc toward the dollar dolar along I with its it dominions dominion There Then has ha been much talk that th the gold countries should organize to defend themselves against what wha they consider a menace to their pos tion Uon ton as gold nations naton In high quart quarters rs connected with wih th the dollar dolar group it i was wa said that there ther was was a steadily growing tendency favoring fa Ia- going ahead with the full ful busine business business busi busi- ness ne of the conference irrespective of th the gold blocs bloc's attitude If I the gold countries do not like lik what is i being done don they tey can make mak reservations but supporters of the do dolar dol lar mr group said that there was wa much in i the monetary field which could coul be done even without their sup sup- Pit pert part TWO POINT PROGRAM The gold allies ales according to an authoritative source at the moment have a two-point two program providing first that while they will wi not qui quit the conference they will wi do everything everything every every- thing possible to obstruct so that tha ts t proceedings may be ineffective and adjournment will wil come shortly The second reported report d point was wa to t work to shift from the shoulders o of France any responsibility for torpedoing torpedoing tor tor- the parley Georges George Bonnet French finance minister and chief of the gold group remained in London over the weekend weekend week week- end and was busy today toay In private privat conferences Among others he talked with wih American and British dele dele- dele gates gat Senator Key Pittman of Nevada continued his hi efforts through private privat conversations to obtain acceptance of his hi proposal for rehabilitation o of silver One of th the big difficulties Is I to insure that silver countries lik like India and China Chin will wi not try to profit profi by dumping on the market great quan guan titles of white metal if i prices prie ar are raised Mr Pittman has been in frequent conferences with the Indian IdIan and Ch Chi n nese e delegates whose countries ar ari arc i the chief holders of silver |
