20 MAY 1922, Page 1

Speaking on Tuesday Mr. Hoover, the American Secretary of Commerce,

repeated what he had said in a previous speech about the necessity for Europe to establish her institutions firmly before any American financial help could be given. According to the Washington correspondent of the Times Mr. Hoover laid down five. conditions :—(1) That the various States of Europe must produce an atmosphere of peace and destroy the atmosphere of war ; (2) that armaments must be reduced ; (3) that international debts must be fixed upon such a definite basis as to create confidence that the obligations will be met ; (4) that Budgets must be balanced by far stricter economy ; and (5) that the way must be prepared for the re-establishment of the gold standard.