Evening Star Newspaper, May 8, 1931, Page 4

ANERICAN TARFF qj%m'qmy Yrust Officlal Aso Tirgués Favorably en Gold e Before Chambel, » A defense of the Amerioan tarift \fiad an argument against the conten- %ion that this country is accumulating Fecerve gold stocks lo the disadvantage of the rest of the world were sounded last night by Willis H. Booth, New York banker sand former president of the International Chamber of Com- merce, at a banquet of the chamber. Bocth, who is vice president of the Guaranty Trust Co., addressed his re- mnarks to the European delegation. With reference to the tariff, the speaker said that where any sched- ules proved objectionable an approach to & remedy was at hand by appeal to the Tariff Commission. ~He cited in proof of the efciency of such action ghe recent appeal of a Netherlands merchant which he said resulted in a satisfactory adjustment. True, this represents only a atart, he said, but added “on all great things we must have a start.” Answers Gold Orities. Getting into the question of gold, he said: “Let me say that eur combined et income from foreign investment ac- counts from all sources everaged for the five-year period fromi'1925 to 1929 glightly more than seven hundred mil- lion dollars per anrgim. “From this we must deduct our pel num defieit on | commercial and donatiod, account of | more than two hundred million dollars. leaving us an average of five hundred | million dollars per inym &s our net | balance available gn our total inter- | national investment and business ac- count, excluding, of course, capital “Un normal . ¢ircumstances, this % the amount_that would have been mvailable for permanent Ainvestment mbroad from our international transac- tions. On the assumption that we have had about a billion dollars more gold than we needed, it might be & ase sumption to state that during this five- year perlod we should have invested abroad an additional two hundred mil- lion dollars for each of the five years in question.” ‘Pinch Hitting” for Youn Booth appeared. as he said, to “pinch hit” for Owen D. Young, who was forced to remairi away from the gather- ing by the:ilness of his mother and wife. § . Booth's speech, Oeounr Theunis, rétiring president of the! chamber ‘and. former premier of Bel-{ inded his audience that the does not deal with political and counseled patience. » er 'was Alberto Pirelli, ~ and honorary | ! Presidest of the chxmber, | res! e 3 | 2 Dr. ‘Carl Bergmann's declaration on | debts and reparations. yesterday after-| noon was the most direct that has yet marked the Congress, Dr. Bergmann is a former German secretary of state and finance, .. A ¥ In summing up; he said, “the re tions 15 not yes settled. It still awail & final economfe” solution.” by *Full Burden on Germany. @ Dr. Bergmagn said he had been ad- wised that l;: .bm&r‘ ference. matter which’ ’ - the subject regardiess, ‘under :the Young plan, Ger- & several credi of the international international German e trade hav- | i the t quarter of | ¢ “was accounted | exports, but by | ‘British banker, hit- | ting at the tariff, sald England in 1930 | had bought more than four times as goods fromi ihe United :um land. | been made. Jxopesnlesu; adheres o ber e | them WAR DEBT PLANS Military Expenditufi in Loan Settlements Is Upheld by Foreign Group. (Continued From First Page) out of, for the most part, the use of military weapons, has an undoubted bearing on “will” of nations gen- erally toward the broader aspects of world peace and stabilized economic conditions. ; 1t is understood here that the foreign delegations have based thelr objections o the American proposal mainly on the ground that it penalizes preparations in the interest of national security. It will be readily recalled that President Hoover In his opening speech 1o the chamber presented facts and figures proving that the world today has vastly increased its armaments over those of the pre-war perlod, despite the profes- slons of all nations for permanent peace as expressed in many treaties and agreements, including the Kellogg pact, since negotiated. Furthermore, there have been the efforts of the League of Nations to preserve peace and fous conferences on the reduction in naval armaments have endeavored to express it in a tangible way. Thus far no compromise or substi- tute prcposal, either for the Bi German or the American suggestions, has The British-German pro posal has had the advantage of sev ral days' discussion and has an organiza- tion behind it in which France and Italy participate. Undoubtedly, how ever, before Tesolution on the subject is adopted, the American position will be made clear in some way and the American people will understand it. Silver Resolution Approved. The Resolutions Committee today ap- proved a resolution proposing & world conference on the depressed price of silver. The resolution, submitted by & spe- ¢lal committee of representatives from the interested nations, was approved without change. ] was expected to reach & vole in the' plenary session of the chamber tomOrTow. ‘The resolution follows: “The International Chamber of Com= merce, realizing the serious conse- quences of the present silver situation to the economic condition of the world, considers ‘the convocation during the current year of a conference for the pury of seeking a sclution to the problem, at which all interested bodies | mey be heard, to be eminently decira-| ble and urges the national commiti€es | {0 bring ‘the matter to the attention of their respecive governments. The Resolutions Committee acted on the ‘measure today shortly aiter Sir Arthur' Balfour, head of ‘the - Britisn delegation, had given it his approval. In view of the British attitude it generally belleved the resolytion wouid mfin by the chamber without op- n. Tarift Reprisal Threats.’ A thrést’ of tariff reprisals by Eu- jes if the United States. systém. of protection was by Dr. W. H. i | | voiced h edotomist. ; Are — encouraging hnfin%m for closer econofn! relaf , Dr. Coates said, pointing: out the - projected Austros ustoms unicL, b W that these: € even more: feelings high transat- ffs,” he war) D Coutes’ suacie specihie sutdmobiles im. discussing pe “‘When: very , ports are natural” he said. Test of the world wants to benéfit by that efficiency. It ‘wants American cars, they are so good. But we shall shut oyt if .you will mot take the products of our efficiency, whatever be their nationality,” he said. ‘War Debts Discussed. Linked with his discussion of the | tariff, Dr. Coates brought up the sub- Ject of war debis, declaring that they “can only be satisfied by the transfer'of | physical OF services across inter- national indaries. We need not in- quire how International debts arise. an Germun ¢ ‘mention 34 the possible &dfl from Eng| “In the wholée of Europe, America sells twice as much to Europe as it will take in exchange,” he said. “And we come here today to put it up to them s to whether they will face the new position in which they find them- selves, whether theysdo not feel that in regard to this kind of debts and Possibly in regard to the other kinds of debts about which you have just heard (referring to Bergmann's speech), a rather larger, a rather kinder, & rather better attitude might be take; Meanwhile the way was cleared for adoption by the chamber of a resolution ealling for & world conference on silver with the withdrawal of British objec- tion. Sir Arthur Balfour, who had proposed that a limited international conference be called in lieu of the Chinese sug- gestion of a world conference, agreed 1o the latter proposal. CRIME CURE SUGGEST=D Bulgarian Police Propose More Marringes and Easier Divorces. SOFIA (#).—More marriages, easier | divorces and less liquor are offered by Bulgarian police authorities as & com- bination that will aid in solving the | crime problem here. The president of the Police Depart- ment reported that crimes of violence have quadrupled in this country since the World War. He said that 794 murders in the year, of which 629 were premeditated, was too great a proportion of major crime for a population of less than 6,000,000 Calls 0ld Age Hereditary. ROME #).—The best way (0 live o & Be 100 is, says Prof. Lulgi Galvani of the Central Statistical Institule, o be born of parents who Teach that ege He bases his conlention that longeyily 1s hereditary on figures from the Itullas census The t tical have <> They are with us. Their liquidation depends upon the movement of goods, the export on one hand and the im. port on the other. Obviously the ex- | port must be by the payer of the debt and the import by the receiver. | “When tariffs exclude goods, they | prevent payment of international debts of all kinds.” Dr. Coates said that the reduction of tariffs would do much to Testore the full circulation of trade traf- [fic, and urged the chamber, through | national commitiees, to work for tariff relief, Tue chamber also heard from Abra- ham Frowein, a member of the Federal Econemic Council of Germany, & de- | fense of the projected Austro-German | union, and the assertion that it s the | {duty of th> chamber to continue its {work toward “elimination of uneces- | sary trade barriers.” | Concurrently, the Resolutions: Com- | mittee of the chamber wps continuing work on a declaration as to. the steps [u-m. could b: taken for improvement of | world economic conditions. This ex- | pression goes before the final session of the Congress tomorrow. Tarlff lIssues Discusted. W. Stucki, Swiss member of the Lesgue of Nations Economics Commit- tee: J. Duchenols, French delegate; M. | A. Plate of the Netherlands, and Floyd Chalmers, Canadian delegate, also dis- cussed tariffs. Stucki outlined the successive efforts made since 1927 to effect satisfactory tarifl arrangements and added that, | despite the fact results have been gen- | | nomic co-operation, Coates, | P! THE EVENING STAR, WASHINGTON, Economist Sees 170,000,000 as Limit | Of U. Dr. Baker of Agricultural Department Says Birth Rate Is Too Low. S. Population By the Assoclated Pre At Jeast one Government economist believes there are not enough children to indicate the United States' popula- tion-ever wil Tise above 170,000,000. Dr. O. E. Baker of the Agriculture Department is that economist. Ad- dressing & group meeling of the Inter- national. Chamber of Commerc he said unless the birth rate rises or im- migration laws are liberalized the popu- lation in 30 years will become station- dry at less than 170,000,000. Examination of 1930 census figures, | Dr. Baker asserted, divulges that in no cities of more than 50,000 are there “enough children under 1 year of age, or even under 5 years of age, per 1,000 ‘women 15 to 45 years of age to main- tain a stationary population, and in most of the cities there are only two- thirds to three-fourths as many chil- dren as would be necessary.” Rural sections, he said, have a sur- plus of youngsters above the number needed for an even 'zop\llluon, but no more than required balance the city deficiency. e added that the rur birth rate also is declining. which, he said, “can only be realized If the permanent radiation to which ft is our duty to con- tribute is powerful enough to persuad: universal pubiic opinion of the justic of the resolutions adopted by the eco omic conference of 1927." " Duchenols sald there was “almost complete unanimity among the “na- tional committees of Continental ‘Eu- rope in wishiog: for less rigid applica- tion of the most favored nation clause.” “.Although raised coincident with en. sactment of the new American tariff act, Chalmers sald Canadian tariffs had “always been dictated. by our own needs; they have never been re- taliatory, defiant or unfriendly.” Plate said members of the European Customs Undon, which he represented, believe the “upholding of the present situstion—that means & situation in which international trade is hindered | by Jong lines of high tarifl walls divid- ing Europe in & great number of is lated economic centers—forms an ob- stacle to recovs " Agriculture Resolution Favored. A proposal that world agricultural production be ‘adapted to consumption by international settiement is considered by the Resclutions Commit- tee of the chambe: Approved yesterday by agricultural representatives, the measure was passed on to the Resolutions Committee to de- termine whether it should be referred to the entire congress. The agricultural group found such action would pe the only means, un- der present conditions of heavy indus- trial and agricultural crises, to master the situation. It would have the Congress recom mend not only adaptation of produ tion to, consumption. by _internationul settlement, but also erop financing and “amendment of rigorous agricuitural rotective measures, reduction of diffi- agricultural prod- culties In importi export pre- suppression of @ WASHINGTO erally negative, he still saw hope for future agreement. “Attempts have been the League of Nations,” he said, * the ager resulis oblained in the fleld of mulliluteral commercisl policies, This rlaluly incorrect e League of Nations can only be that which the coustituent countries make 1L Responsibility must be sought in the differeat eountrics, in their governments aud parliaments,” Stucki called for nternmtional e erms of Morris Plan Loans are simple and prac- it is not necessary to ed an account at this Bank to borrow. For each 360 bor- rowed you agree 1o deposit $5 a month in an ac- count, the pro- ceeds of which may be used to cancel the note when due. Depos- its may be made onaweekly, semi- monthiy or monthly basis as you prefer. Easy to Pay Loans are pass- ed within a day or two aftef filing application— - with few excep- ns. MORRIS PLAN notes are usually made for 1 year, though they may be given jor any pegiod of jrom 3 10 12 months. MORRIS PLAN BANK Under Supervision U. S, Treasury 1408 H Street N. W., Washington, D. C. “Character and Earning Power Are the Basis of Credit"” No Charge for Alterations O DOUBT about this being the most important clothing event of the season . . . for these are HART SCHAFF. NER & MARK Suits . . . from our regular stocks . . . regular $40, $45 and $50 values . AND a wonderful selection of the newest models and shades—Balmoral Blue, Platinum Gray, Arab Tans, Mixtures and Unfinished Blues . . . Worsteds, Tweeds, style or another. “Use Your Charge Account or Open One Now @ PARK FREE AT THE CAPITAL CARAGE WHILE SHOPPING HERE ¢ RALEIGH HABERDASHER SNELL HITS C. OF C. MAKING U. 5. ‘GOAT Representative Denounces Proposal of Tariff Slash and Debt Cancellation. Vigorously denouncing the proposal | at the International Chamber of Com- merce here that the United States slash its tariff rates and cancel European | | war debts, Chatrman Sneil of the House | | Rules Committee in & statement today | censured “a group of internationalists” | | and asks why they “always decide that | Uncle Sam must be the goat.” | Although we recently declared that | “we have gone the limit” on tariff rates. Representative Snell opposed lowering | the “tariff wall” to relieve the world | business _depr ust keep | the tariff prot he says, | “s0 as to maintain our own market for our own producers to &s great an ex- | tent as possible. And we must take enough interest in our Government to see that it does not become an old | man of the sea about the necks of our workers,” he warned. U. §. Sacrifices Asked. Newspaper headlines on the Interna- tional Chamber of Commerce speeches, Dt LRI IMPORTANT €. OF .| ACTION EXPECTED Resolutions Period Tomor- row May Determine Stand on Debt Question. BY MARK SULLIVAN. In the inner leadership of the Inter- national Chamber ‘of Commerce the troubling question is just what specific recommendations to give to the world. The time to watch is the final open session tomorrow morning, when reso- lutions will be adopted. As. in all such gatherings, the resolutions really will be { framed, for the larger part, in advance | by the ‘leaders. The leaders are under the compulsion of feeling they must do something st |once concrete and important. The chamber takes to itself credit for hav- ing in past years initiated the Dawes and the Young plans, by which Ger- man reparations were twice put into definite form. It is possible that on this point the chamber may be com- plimenting itseif a little overgenerously. Nevertheless, under the impetus of that tradition, the leaders feel they must now be similarly definite on some sub- ject equally weighty. he pointed out, gave the impression the | Inernational Debis Aim. only solution for the depression “is for | The hope and disposition before the the United States first -to give up what 'meeting began was to focus on the in- |1t has been able to save during the | ternational debts. While that intention storm.” |has been slowed down somewhat by “Pirst, we must cancel the debts | Secretary Mellon's speech and the atti- which the Europcan nations owe us— | tude of the administration, nevertheless not for money loaned them after the |the international debts remain the out- /at to rehabilitate themselves.” he sald. | standing Hamlet of the play. To do The most casual examination of the | nothing about this subject or to deal being | | figures of all the debt settlements will | with it weakly would be unpalatable to | show that we are actually only Tequir- {ing them to pay what they borrowed after Armistice day, with & very low interest rate. Ald for European Workers. “Second, we must take down our | “tariff walls, so that the workers in the | | European factories may be employed | | making articles which are now made | | here, and so that the Russian and | Argentine farmers may sell us wheat | at & price 22-odd cents below the price our farmers are now receiving. | ELMER MANNING FOUND | | Youth Missing for Two Months Fcund at Fourteenth and F Sts. A two-month search for Elmer G. | Manning, 24 years old, who disappeared | in March trom his home, at 2800 On- tario road, was ended yesterday when Patrolman Homer H. Hardman of the first precinct arrested him as he was | entering » taxicab at Fourteenth and F streets. His father, Dr. Willlam J. Manning, with offices in the National Press Club Bujlding. was standing at the corner | at the time and accompanied Hardman | and. the youth to the first precinct sta- | tion. The son was later sent to Gal-| | Traffic signs in Yokohama. Japan. linger Hospital for observation. now have the words “Stop” and “Go" | pi and in English and in Chinese, the | written language of Japan | N'S FINEST" Season’s Most Important Clothing Event! $40, $45 & $50 Hart Schaffner & Marx UITS y o 1 or 2 Pairs of Trousers SOm Twists and Cheviots. All sizes .1310, P{ Street MEN’'S WEAR STORE @ | the chamber's pride. There will be or | may be recommendations about policy toward Russia, tariffs, regional customs unions and the proposal for an inter- national conference on silver. These are, however, in the minds of every- body, minor to the international debts. In the search for a way to be con- crete, one prevalent suggestion is to recommend that the debts be scaled down in proportion as the purchasing power of the dollar has risen. If, Toughly, it be sald that the value of the dollar has risen sbout 25 per cent since the debt coniracts were made, then the amounts to be paid should be reduced, | roughly, the same percentage. i To express it as it is often expressed by leaders in private conversations, the allies when they contracted the debts ring the war pald us upward of $2 a” bushel for wheat. Now wheat is worth in Europe, roughly, half a dollar & bushel. As jl is put by spokesmen for this point of view, the allies are paying us back four bushels of wheat or each one they received from us. Similarly. they paid us 25 cents a pound for copper, whereas copper is now be- tween 8 and 10 cents a pound. 25 Per Cent Reduction. A rough application of this principle, putting the debts on the basis of all commodity prices, would result in about 25 per cent reduction. Oppesition to this proposal says, in effect, that these international debts are the most con- spicuous obligations in the. world. Scal- ng down of them would advertise the rocess and the principle to the whole rgument for treating the world. Every argume ts this way is equally international deb! MAY 8, 1931 an argument for treating all other debts, public or private, the same way. A milder suggestion as to what the chamber should recommend about in- ternational debts is merely that the whole situation be re-surveyed with a view to determining the debtor’s pres- ent clg:clty to pay. “Capacity to pay” was the basis on ,which the originial finding cohtracts« made. It is now urged that presext capacity to pay is smaller than when the contracts were made in 1923-24. ‘The situation Tevolving about these proposals. is_interesting. important and controversial. ‘The answer will be seen in the language of the resolutions which the leaders present to the chamber for adoption tomorrow. Further answer will be seen in Whether o not there s debate over T jutions as proposes What turn the debate takes, "o *°d A S Y ‘Altar Overhangs Sea. About 12 miles from Kjoge, in Den- mark, i& an anclent church in Hojer- up, built- on the famous Stevns Clff which_has been undermined by the sea. In'the fourteenth century an old sea rover was threatened with disaster off Stevns CUiff, and vowed, should he reach land safely. he would build a church on the ciiff. Fortune favored ‘iern ordinarily used in airplanes. RESCUED FROM GAS John Walley Is Overcome ' 'by " Fumes While Cooking. John C. Walley, 52 years old, of 3120 Twelfth street northeast, was | by members of the Fire Rescue Squad |Jast night when he was accidentally [oyermmp by gas fumes while essaying | to fry some fish at his home. ‘Walley, police were told, fell over an open jet when he stumbled while pre- paring to light the stove and inhaled a large quantity of gas before he regained ;I:l l:;t. s}l\ouun to relatives for help, en slum to the - eonscious. s Fire Rescue Squad workers removed the man to -Gallinger Hospital for ['"further attention after reviving him. Ohio VB ¢ | has brought the | over'the sea. A | New Year night the | & cockstride back from the sea.” & BB NEW CAMERA PERFECTED | Could Picture Switzerland. in 50 Clicks of Shutter MUNICH (P)i-A panorama camets | covering 270 ‘square miles in a single | exposure has .been .developed by a Munich optical firm. With 50 clicks ‘of the shutter an air- her with this device 4 ‘of Switzer- It is & widesangle camera with one central lens ‘sugrounded iy .eight sup- | plementary lenses, and is said to ac- | complish with one exposure what would | require 200-to 300 exposures with’ cam- e ank Closed. | COLUMBUS, Ohio, May 8 (#.—Ira A. Fulton, State banking superintend- - ent, today took over for liquidation the More than 35,000 applicants are mow | Leesburg Bank. a private institution | waiting for houses bog:l constructed | at Leesburg. Frozen assets was given by the Londéon County hedl, a8 the cause of the closing. Let’s be onest with each other!! Why Pay ‘40 or *45 to ‘Satisfy Your Vanity When You Know e ‘worth even more. and models in one it won’t get you a better Suit .than the one Bell sells No Need to Pay More There has been a enough to permit and skillful designing. tailoring here and there all good clothes. Hundreds and hu clothes with shits for $40 and $45 elsewhere. Step out in style—and ringbone weaves grays and tans. celanese-lined! $22.50—the Bell price. that means natty tweeds and her- in colorful Luxuriously Yes, sir—a 4-piece Suit =t Unless You Want To! big drop in the prices of 100%. all-wool fabrics—big Bell to produce at $22.50 the kind of clothes for which you have been paying $40 and $45. For $22.50 you can get the finest woolens Examine a Bell suit! Notice the clever touches of hand- ... notice further the many refinements that characterize Bell’s business is bigger than ever. ndreds of +gmall profits from hundreds and hundreds of men who appreciate real values and send in their friends to compare Bell which they paid 4-PIECE SPORTS SUITS COAT— VEST-‘TROUSERS;KNICKERS $22.50 The biggest difference between Bell Clathes awd those that cost more s . . . the price.