Show t. t News Review 01 of Current Events the World ld Over Ovel S Sj j I 1 American America Delegation on Way to London Economic Conference Con Con- ference Brookhart ference-Brookhart Becomes Agricultural Ambassador Ambassador Ambas Ambas- Bador to Russia Russia Morgan Morgan Inquiry Proceeds By EDWARD W. W PICKARD S SIX L LX d delegates es and nineteen experts are on their way to London to represent tho the United States In the international In in- International economic conference from which so much Is expected in the I of finding a n path way k I out of the world de de- de- de j Secretary Secretory ati of at r State Cordell Hull i 1 J. J 1 heads the delegation f and his hs associates as d t J s announced b by y t the thel h e eWhite l White II House 0 use n are r e V L I James M M. Co Cox Cos vice i chairman for former mer J and Democratic Demo Demo- v governor p C cratic r rat a t I c Presidential candidate in l 1920 1020 O Rep S. S D. D Senator Key Pittman of Nevada D Demo Demo- e em m o 0 crat Senator James Couzens of Michigan Republican Representative Samuel D. D l of ot Tennessee 1 1 a h 11 r n f u. u H. H I Texas retired banker Chief Chef of the I experts are William C. C executive executive tive officer James P. P Warburg finan finan- financial cial adviser Fred K Nielsen legal adviser ad and Herbert Feis Fels chief technical technical technical tech tech- adviser under whom will serve sene several members of the brain trust Of Ot all aU the delegates the one consistent con- con conservative Is Congressman s. s He Is chairman of the house committee on foreign relations and his Influence is expected to be potent in the deliberations of the dele dele- gatlon gation Senator Couzens the one Republican Republican Re Re- publican member has bas frequently lined up with the more radical Republicans Republicans Re Re- publicans and Democrats In congress The administration according to Assistant Secretary of ot State Ra Raymond mond Moley has considerably modified Its expectations of ot what the conference will accomplish and now realizes that the prospects are definitely limited and do not Include a lowering 10 of tariffs tar mr iffs or an Immediate permanent sta stia of currencies Secretary Hull HuU is said to be the only one of the administration leaders who still advances advances ad ad- vances the urgent necessity of ot a dras drastic tic tlc International agreement to lower tariffs and trade barriers Mr Ir Moley Included only the following following follow follow- ing among the solutions which probably probe ably Would be obtained at the conference conference confer confer- ence An agreement on monetary policy through action of ot central hanks banks supplemented sup by an nn agreement among governments to s synchronize policies Lof of Internal public c expenditure An 8 agreement on progressive removal removal re re- moval of restrictions on exchange change The International wheat conference moved mo from Geneva Gelle to London and aud there the representatives of the United States Argentina Australia and Canada Canada Can Can- ada continued their discussions If It they agree upon ulOn any plan for curtailing curtail curtail- In Inn ing wheat acreage It will be submitted submitted submit submit- ted to the economic conference for tor approval G GREAT pREAT RIAT BRITAIN France Ital Italy J and the other nations that owe war debts to the United States failed fallet in their effort to have the debts included included in In- In the a agenda ellda for the economic conference but their delegates enter r the conference with th the cancellation or drastic reduction of the debts theIr chief aim The Time Roosevelt administration Hon tion Insists that the tume war debts however however however how how- ever Important they then ma may be were nut not nota nuta a major cause of tho the depression and andare andare andare are not n a major remedy Consequently Consequent Consequent- ly Jy tho the parleys In London are almost certain to develop elop Into a great rent battle of ot diplomacy President Roosevelt has flatly denied denied de der nied that he Intends to negotiate now settlements of the war debts without recourse to congress This was mode made necessary by dispatches from Washington Washington Wash Wash- ington published In London saying Mr Roosevelt had offered to acc accept pt from Britain as part pa payment payment pay pay- ment of the due June 15 Hi It lt seemed fairly certain that the British government go would make this payment in full tulle This will be easier than before because of ot the non tion of ot the dollar Britain can cnn either pay in paper dollars which cost about 2 per cent less to I buy U than gold dui dui- lars Tare or In American securities which 1 can be bought with paper dollars at nt ata ata a discount and turn turned l In at par lar par I CHA CHAMPIONS of the gol gold standard I In both the hotl house e and the senito t 0 had Imd little chance as tho the I tion forces pushed through the Fletcher resolution for for forth th the abrogation of the gold gull clause In all governmental go and private contracts contract both present anti and future The mess meas measure b I ur lire ure asked by the President to legalIze legal legal- ize action already taken was first passed b by the time house by uy a n vote of or 23 i to to 57 1 Twenty eight Republicans ant and andall 1 all nU five of the Farmer Joined with the tho Democrats In f favor for or of ot the resolution Representative Luce of I Massachusetts who wlm led lell the small minority denounced the measure us ns a brach of faith fulth on Ull the fart of the lun hut hat I ri SUM SUM-M a of the b ba banking com committee said it Ii as was essential for the recovery of national nal prosperity INVESTIGATION N of ot the banking A house of J J. J P. P l Morgan an R Co was resume resumed by hy the senate banking com corn and a n new v list of Important persons who had fwd received bargains in n stocks was produced Ferdinand PC PC- corn cora the commit committees committee's tees tee's counsel was t-as persistent In his probing but was compelled to tell the senators In executive executive ex ex- session what evidence he proposed proposed proposed pro pro- posed to Introduce and what he expected expected ex ex- to prove by It and aud to convince convince con con- vince them of the propriety of his pur pur- pur- pur pose Senator G Glass ass was still determined determined deter deter- mined that I cora should not bring out matter outside the committees committee's Jurisdiction or Irrelevant to the inquiry In in- Mr Ir Glass muss said he had received received re reo re- re e a number of anonymous threats by hy mail and what he termed blackguard telegrams because of Ms his Thou Though g h William 1 H. H WoodIn's name was on one of the Morgan lists of preferred customers before he became he- he came secretary of the treasury an and hence demands for his resignation were made hy by various arious men In public JI life Mr Ir WoodIn declared he had not resigned His Isis statement left lett no doubt douht that he would be he willing to quit his office If his presence there In any wa way hindered the return of prosperity but it also was Interpreted to mean that Mr Ir Roosevelt wished him to hold on en at least for the present More serious perhaps Is s the case of ot Norman D. D Davis is the very active ambassador at atlar lar large larce e In Europe who also was Vas on a 8 aMorgan aMorgan Morgan list Representative Geor George e H. H Tinkham of Massachusetts has demanded de Ile- le- le a congressional Investigation of the financial dealings Mr Davis ls may have hae had with International bank bankIng banking bankIng Ing and business Interests Asserting that Mr Davis has spoken en at nt Geneva Gene In n repudiation of the traditional tra tra- traditional American foreign policy Mr Ir Tinkham said that a n congressional committee should also Investigate Mr Ir Davis' Davis connection with disloyal and seditious American organizations and foundations in the United States Continued on page age 2 2 |