Salt Lake Telegram | 1935-06-27 | Page 2 | Currencies Stabilization Urged at World C. C. Meet

Currencies Stabilization I Urged at World C. C C. C Meet I I PARIS June tune 27 AP Stabilization AP-Stabilization Stabilization of currencies settlement of international debts and lowering of oC trade barriers for world recovery recovery ery cry were urged today by Thomas J. J Watson Vatson head of oC the American delegation before the world con congress of ot the international chamber of c commerce The president of oC the International Business Machine corpor corporation tion cautioned cautioned cautioned cau cau- against hasty stabilization however in an address s setting forth the views views' the American delegates would like to see Bee incorporated in inthe inthe inthe the conventions convention's general resolution Trade barriers are not the only things that need attention if we arc are areto to stimulate world trade he said Stabilization of international currencies cur cur- is equally important and should be analyzed carefully but we should take enough time to study thoroughly this important question from a n standpoint of fairness to all nations and permanent stability We cannot afford to take any chance by hasty hast action International debts arc are also hampering world trade Watson said referring to the war debts As long as this matter is Unsolved unsolved unsolved un un- solved and left hanging so to speak in a state of ot suspended animation it must continue to be a source of irritation in all countries involved I j hope this whole question can be settled on a basis that will be fair and considerate to the best in interests interests interests in- in of oC debtor and ere creditor alike International cooperation and a alair fair lair deal among nations were the keynotes of ot Watsons Watson's brief speech The American merican merican delegation was chided for Cor its cautious cautious' attitude to toward to- to toward ward wara war debts and other political problems in a caucus in which it toned down the draft of its resolution resolution resolution tion for submission to the conven- conven nion n- n ion ion resolutions ons committee They confined themselves themselves' to saying saying saying say say- ing the present situation should be reexamined and adjusted so as asto asto asto to meet practical possibilities They retained however the general general gen gen- eral cral statement strongly dissenting from Crom the argument that another war wa-r is unavoidable statin stating the thelast thelast last war was lost by all nIl nations and left the world impoverished and it ii itis itis is conceded another war would be even cven more disastrous I