De Haas Declares Fear in Far East Is Being Echoed All Over World--Economic Situation Severely Threatened

"At the present time, the disturbing economic conditions in China are reverberating around the world," said J. A. De Haas, William Ziegler Professor of International Relationships, in a CRIMSON interview yesterday. "The fear that is felt in the Far East as a result of the recent troubled period arises in every corner of the earth in the form of economic fear.

"In fact, the depression finds us sunk into a deeper hole than a while ago because of the psychological condition that is apparently the result of economic intimidation. The failure of disarmament conferences, the misbehavior of Japan, political unrest in the European 'powder-box,' and high tariff walls, all add to the uncertainty of our economic life. It is evident that fear has exaggerated the importance of these conditions, but they must be reckoned with, one at a time, before we shall be able to straighten the entanglements of international economics.

"We must not look abroad for a means of mending our economic sore spot, for there are plenty of opportunities for improvement at home. The presidential campaign has revealed little about the economic crisis. I believe that the sad part of the entire campaign is the rash promises that each party has made. Republicans cause the world to shudder when they talk of continuing the practice of high tariff walls, and both parties have come out flat-footed against the cancellation of war debts. The two major parties have refused to tackle the situation from a sane economic standpoint. The strained international situation cannot be alleviated until the questions of trade and war debts are met with squarely by a conference led by the United States."