Speeches on the Eve

While the S. S. President Roosevelt bearing L-. S. delegates to the World Eco-nomic Conference plowed through long summer seas toward Britain last week, U. S. Ambassador Robert W. Bingham stood up in London to make his maiden speech before the Pilgrims Society. Every U. S. Ambassador is fed by and talks to the Pilgrims but not even in the Dawes days had the Pilgrims heard such frank, forthright talk as this. Speaking for his smiling chief at Washington, Ambassador Bingham said:

"For years the majority of American people believed that the higher the tariff, the higher the wages and the general level of prosperity in the country would be. Now they have learned the grim lesson that with the highest tariff the country has ever had, more than 13 millions have no wages at all.

"By bitter experience they have learned how unfounded this tariff doctrine is. They have learned how impossible it is to continue selling where they do not buy, and they at last are prepared, through proper agreement, to lower tariff barriers so that international trade may begin to move again."

It is unwritten law in Britain that the Royal Family shall make no public statement on a controversial political subject. Edward of Wales, speaking after Mr. Bingham. came extremely close to breaking the rules when he added:

". . . America is realizing with us that under the interwoven economic system of modern times, no country can prosper in isolation. Suffering is a very hard school, but if our present sufferings have the result of bringing home to us all the vice of economic nationalism, then this great depression may well pave the way for future permanent prosperity."

Ten years ago, when all British politicians preached free trade, this would have been an unexceptionable remark from the Heir to the Throne. Today there is a potent group in the National Govern-ment who, having swallowed a high tariff and the idea of economic nationalism within the Empire, find it very much to their liking. Leader of this group is long-necked Neville Chamberlain, Chancellor of the Exchequer and head of Britain's delegation at the W. E. C. Chancellor Chamberlain, making his last official speech before the Conference's opening, seemed to be replying to the U. S. Ambassador and to his Prince when he told the House of Commons:

"All of us, I am sure, regret the eco-nomic warfare which has arisen between us and other countries, but we must maintain that warfare so long as other countries which are taking the aggressive are unwilling to make reparation and restitution for the wrong they have done us. ...

"Some members seemed to think there was an inconsistency in the attitude of the Government which has been occupied for many months building up tariffs and is now desirous of seeing other nations reduce theirs. I see no inconsistency myself, because everything depends on the areas of the tariffs or the height of the tariffs.

"We have tried the experiment of leaving ourselves completely open to the importation of foreign goods, while others built up walls against us. The result very nearly landed us in disaster. . . .

"After all the creditor nations ought to have realized, they must realize anyhow, that commercial debts can only be paid in goods and services, and unless they are prepared to take goods and services, they cannot expect to have their debts paid."

This last was as definite as the Chancellor would be on the question that all Britain knew had split the Cabinet wide open: to pay or not to pay the installment of $75,950,000 due the U. S. three days after the W. E. C. opens. Stanley Baldwin was leading one faction, for immediate payment. Neville Chamberlain was leading the faction for default, secure in the knowledge that President Roosevelt's suspension of the gold clause in U. S. bonds had shocked thousands of Britons.

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