Maintaining that the "complete cessation of trade with Italy would have an infinitesimal effect upon American business," Oliver M. W. Sprague '94, Edmund Cogswell Converse Professor of Banking and Finance in the Business School, made a critical thrust at an all embracing embargo.
Professor Sprague, speaking before the Foreign Policy Association at the Copley-Plaza on Saturday afternoon, suggested that "a broadening of the embargo to basic war supplies" by Congress in its next session is highly desireable.
As a general principal, he advised, "If we really desire peace, we must pursue less nationalistic policies in our foreign trade; we must discontinue favoritism."
In our present relations with Italy he insisted that the economic factor was the one deserving least consideration. Prices of our staple commodities would not be affected at all.
Bruce C. Hopper '24, assistant professor of Government, also speaking at the meeting, declared that we must discard our "out worn policy of impartiality" for one of "whole-hearted cooperation with other peaceful nations and open partiality against the warring aggressor." By stationing a permanent diplomat at Geneva and keeping in close touch with London and Paris, Professor Hopper claimed that the United States could more consistently work with the League of Nations and not play "the lone wolf as we did in the Hoover Moratorium."
Main speaker of the day, Sir Norman Angell, British economist, talked little upon the proposed subject of the meeting, "Shall the United States Forbid All Exports to Italy?" but veered off to a campaign speech on why all the nations of the world, in effect, the United States should join the League. He entreated that "in international problems, power should be transferred from the litigant to the law. Pledge your support to the law of civilization, not to the litigant. This is anarchy."
Hitting at the Roosevelt Proclamation, Christian A. Herter, 2nd, '15, said that the phrasing was not clear, especially trading "at your own risk" with belligerents. Should an American ship be sunk with American lives lost, public opinion might easily shift and become intensely militaristic.