ROOSEVELT READY

Gisborne Herald, Volume LXVI, Issue 20028, 29 August 1939, Page 5

ROOSEVELT READY

FINAL DRAMATIC MOVE NEUTRALITY PROBLEM 0 MR, JOHNSON CRITICAL “DISCRIMINATION ACT” {Elec. Tel. Copyricht—United Press Assn.J (Reed. Aug. 29, 10.40 a.m.) NEW YORK, Aug. 28. . The Washington correspondent of the New York Daily News states that President Roosevelt is prepared to miake a final dramatic move for peace within 24 hours, provided all the South American republics and M. Stalin agree to back an. appeal to Herr Hitler for an immediate world economic and disarmament conference.

The correspondent adds that the British Government Ls reported confidentially to have placed text of its reply to Herr Hitler, in President Roosevelt’s hands.

The British Government’s ban on trading in foreign securities is interpreted as being the beginning of the mobilisation of the huge British assets in the United States to finance the purchase of war materials here. .

It is anticipated that in the event of war the British Government would establish an agency to liquidate the securities, thus avoiding dumping and depressing their value.

British and French assets in the United States are estimated to exceed £700,000,000 of which £525,000,000 could easily be liquidated. British holdings are estimated at over £400,000,000.

Canadians also have sizeable investments.

What use will be made of the investments depends on President Roosevelt’s steps under the Neutrality Act.

The Assistant Secretary for War, Mr. Louis Johnson, to-day called the latter* a “discrimination Act” and declared that an arms embargo was equivalent to presenting Germany with an Atlantic fleet.