American Notes of the Week
(By Cable)
AMERICAN CONFERENCE ON REPARATIONS.
The conference which the American Reparations delegates, Blr. Young, Mr. Morgan, Mr. Lamont, and Mr. Perkins, had with President Hoover this week at his express invitation provided notable evidence of the President's desire to have the work of the Paris conference and its significance reviewed at first hand by the Americans who took part in it. In the meantime the general impression in Wall Street confirms the view of Mr. Kengo Mori, chief Japanese delegate to the Paris conference, that any immediate American participation in Reparations Bond issues, if they are approved, is likely to be small, on account of the tight credit conditions now prevailing in the United States. The International Bank scheme itself has had a generally favourable reception by influential banking and financial authorities, with one or two exceptions, in the United States. Considerable newspaper publicity has outlined the advantages of the scheme to the general public. The force of Mr. Young's thesis that if Capitalism is to continue to function adequately with the developments in communications and transportation and the widening of the normal area of trade, the co-ordination and development of economic and financial machinery are requisite, is being more and more appreciated. While the United States Administration appears unlikely to change its decision against official participation in the scheme, it is generally felt that some form of representation analogous to the unofficial representation at the Reparations Conference will probably be worked out. * * * *
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