Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 21, 1931, Winnipeg, Manitoba Raar Epmia Pree press 1931 Manitoba free w Glen fr0posals placed in hands of Stimson for submission to London conference steles will Mase Are designed to Penances place the French proposals which were rejected by great Britain and the United they contained financial conditions which were looked upon As impracticable and political conditions in which the United states would not the United states on the other Are designed to meeting the existing financial crisis in they were formulated during several Days of conferences at the White House Between the presi Dent the two acting secretaries numerous interchanges Between the chief executive and Secretary v discussion designed to Jeet financial crisis rre55 july con it proposals i3y the United states to relieve Germany stress approved to by per Wilcin Hoover end placed Sands of Secretary of state Rvl in London for sub to the interested f Castle of the state Al Refl rare in the of he declined is comment further on the s Vin be submitter to the conference at to franc i proposals stint the Exi Emnace of the suggestions after the a Whf Ecci Islip talked by trans Atlantic Telephone with the Secretary in the which the United n Germany i continued the aged and he Fulesi Benefit from donations to the Winnipeg foundation remember it in your As an act of rare courage and states it is no Small thing to the people of the United far removed As they Are from and themselves at grips with a Domestic slump or unprecedented to suspend for a year All their claims in respect to International but in my it was also a stroke of sound its effect at the out set was startling not Only did the value of securities Rise with a bound even the Price of commodities War debts and reparations Are no self liquidating obligations like Loam Mads for productive the can Only be paid by exporting goods to the creditor countries in sofa As they Are obstacles to the move ment of by the Export of Gold thus the payment of reparations and War debts in a time of economic de pression presents Peculiar difficulties and the knowledge that these do Fol cult Les exist weakens the conf dec of investors and this in turn in 1 work for Mother when she serves Kelloggs Corn delicious for any no easy to have Kelloggs often and save yourself trouble Tito top Corn flakes for the Ewe win evening Mode by Keno Fig in the original difficulties so hat a vicious Circle is Ohe Torlan knot was for the moment successfully Cut by the presidents Ord but foreign credit continued to be with stated by the German in Ulster of finance that from 00000 to pounds of Orelyn Exchange have been lost by Jermany a colossal As it More than the quiz Lent of two years of reparations the trickle of Exchange became a the two a and the River a Tor until tie inevitable Deloraine Pioneer the 614 head came in Satur Day on a special train Over the Cana brought through in a run of slightly Over 30 in Boniface then loaded Lor in charge of Harry Niento will leave port about the end the thus we have now not merely Tel on Lder the measures necessary to Arry into Ettelt president Hoover a but we have to add to that to urgent emergency that has since developed in otherwise it will be difficult to Tay the flood before it has Over whelmed the whole of Central Europe with consequences social and poll i As Well As purely which no Man can both political and financial the foreign investor had re aimed his Normal Confidence in Ger Many her position would have Emal Ned Safe and we should not be meeting Here under these Clr Eum As regards her her balance of her economic and la Industrial great efforts and government and sacrifices had been made Ana to a position showed no Radical our in a a to restore the Confidence of the foreign investor in the problem has both political and financial but the mind of this conference is to be concentrated on sub that we have All met Here today is in itself a demonstration on every a desire for the maintenance of cordial relations May i venture at this Point to express the spirit with which we Are determined to lace our work we Are Here representing our various a and we Are also Here la the spirit of cooperative re solved to end our deliberations with an agreement which will not Only meet the requirements of Tho present but begin anew a time of can did Mutual Effort to pacify the disturbed mind of us first of All to our and confess it in our conferences that there Are some things which one or the other of us can not do because the Public opinion to which we must be Loyal will not allow we Are not Here to enforce or to defeat or to humiliate we Are Here x understand and to consider our own problems to remember How in we de Jend upon each other o accommodate and to agree to something which each of us can take o our various explain and get accepted As an i eel that each of us can do and that an agreement even in every we do not like will re aspire our people with Confidence and courage to face the heavy responsibilities which Are to be the lot of All governments during the imme Diate months ahead of let us begin our work As As a real round table conference energized by the will to and never fear for a moment but that we shall have the support of our As regards the financial aspect of the the question of what can be done must largely be reserved for Bankers and i can Only sneak in general there seems to be two main the one is to find the Means of providing new Loans or credits to that is a Matte that i understand has been under consideration in i am Tow that there Are difficulties which would have to the surmounted wore any loan could to obtained in the Market we must consider it May be a it May but a Solu Tion mutually possible and effective for its must be the other Way would tie to attack directly the question of by strengthening the internal position of we can give an Assurance of its stability to the outside world so As not Only to prevent the capital that is already in Germany from being but to enable it to there can be no question about the inherent strength of the German Economy provided that it has the capital resources that it it is for this purpose that president Hoover proposed the suspension for o year of All debts and this represents for Germany a very real and important it May not prove to be sufficient that is a Point we can examine but i think our first step is to with the greatest possible the Means by which this shall be definitely carried into i emphasize the greatest possible time every Day adds to collapse which will human i propose that we hear now a re port of what has taken place at because at that Point we must begin our the conferences which have taken place Between the French and germans ought to prove of infinite assistance to and we Are All glad that they have been so in the name not Only of the but of the whole coun try Welcome you All Here As col leagues in a great and declare our conference is against the risks of a be outside of j Trio caught at Winnipeg Beach now to face additional charges while three of their companions Are safely Back Sallie custody of provincial two of the quintette of juveniles who escaped from the old jail on Vaughan Early last had succeeded up until an Early hour this morning in eluding All efforts of the authorities to Trace it is thought the pair May have crossed Over the International As after the jail they informed their pals they intended borrowing a car to pay a visit to Uncle saris with the arrest of the who were caught when they attempted to dispose of a Carton of cigarettes alleged to have been stolen from a grocery store at Winnipeg police found out the name of an1 id id my vow into the they will All appear in the Juvenal the court Oti in addition to escaping from Law Ful the three Are now facing charges of theft of cushions a drugs from and an additional count of store Ano Hier Pompian Gulf where she eyes Fol and Suzette knows she is looking her Best 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solution was in socialistic a Resolution dealing with the schools of the association and in particular with the students institution at was presented and this contained an outline of the work in the schools for the coming protest was voiced against imprisonment of the leaders of the unemployed in and this Resolution will be forwarded to the provincial attorney general in Al the demand Lor an immediate release of the imprisoned it was also decided to Forward t Resolution of protest to the City Council against the prohibition of meetings on Market resolutions of protest against the police terror in also against or foreign workers were presented and unanimously adopted by the the m in Luton tilt Watt is at a remarkable saving the allure of the present govern a Resolution was adopted that opinion of this convention the Bennett government has provided nothing in 1u budget for the unemployed and the present budget had been rightly termed by the u a starvation the convention expects to con 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