Borah & Hamlet

Last week Acting Secretary of State Castle sent a brief note to the British Embassy in Washington accepting the League of Nations' invitation to an International Monetary & Economic Conference. This parley, an outgrowth of the Lausanne agreement, will probably be held in London during the autumn. The U. S. is to join an organization committee to prepare agenda.

Tied to the U. S. acceptance of this bid was a string: the conference must not discuss Reparations, War Debts or specific tariffs. Left open for debate were such matters as silver (but not its remonetization), trade barriers, embargoes, import and export quotas, international credit and tariff policies. The practical, though remote purpose of the conference was, somehow to set world trade going again.

President Hoover wants to keep Reparations and War Debts out of the national campaign, hence opposes their discussion at any economic conference before Nov. 8. Rarely in step with the White House, Senator William Edgar Borah went to Minneapolis last week and there delivered before the summer convocation of the University of Minnesota a powerful address for the inclusion of Reparations, Debts and armaments as major economic factors in the London parley. Putting aside his famed isolationist views, the chairman of the Senate Foreign Relations Committee called on the U. S. to take a world lead in the settlement of world problems. Excerpts: "We can't restore confidence in the business world until the vast load of armaments are lifted from the overburdened backs of the people. . . . "Reparations, Debts and armaments are conditions precedent to a restoration of those conditions which would bring prosperity to the American farmer and home. ... If I could purchase the prosperity of the American people by these debts, I would not hesitate to make the purchase. . . . "These debts are justly due, for money loaned. There is no reason why they should be cancelled unless it is in the interest of the American people . . . unless you can exchange them for prosperity. ... I would be delighted to trade $250,000,000 [annual debt payment] to stop the devastating effect of the $150,000,000.000 Depression. ... I am not in favor of readjusting or cancelling the debt until and unless these War problems--Reparations, War guilt, armaments--are finally settled. "We are going to have a monetary conference but we will not discuss Reparations and Debts. How would you like to attend a play of Hamlet, with Hamlet left out?"

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