NAVAL CONFERENCE

Hokitika Guardian, 4 August 1927, Page 2

NAVAL CONFERENCE

AMERICAN CREDITS,

FEARS IN BRITAIN

(Australis n & N.Z. Cable Association.)

LONDON, Aug. 3

“ There is a real danger of a world economic breakdown, said Sir Geoigo Paris, in bis speech at the League of Nations Summer school, which is being held at Oxford. “ The world has never before been in debt so deeply. M there is a break in the world unify, such as many leading authorities fear, the result will be widespread starvation. leading to revolution. In sues a contingency, the loss of lite may tie greater than in war. America is now giving credit on a seaie which cannot possibly last, and the world’s leading bankers are of opinion that a great clash must come unless America changes her financial policy.”

NAVAL RIVALS. LONDON. Aug. 2.

A note of pessimsim pervades Downing Street concerning the Geneva prospects. though all quarters interpose » faint-hearted (but only as a loophole for an eleventh-hour miracle on Thursday) hope which is based, more than anything else, on a growing American realisation that America has made out a bad ease in the eyes of the world, whereas Britain’s lias been a clearcut. definite step towards disarmament economy. Official British circles are unperturbed by the possibility of a breakdown. They say Britain’s programme is to adhere to what they i’aid down at Geneva as being the barest necessity, but there is a lingering belief that it may be possible even yet to agree to an "as you were” policy till 1931, when the Washington Treaty is due to be reviewed.

NEW YORK. Aug. 2

The “ New York Times’s ’’ Washington correspondent states: lhe Japanese proposal at Geneva intended to dissolve the Anglo-American deadlock, immediately encountered objection here, in that it appeared to favour a cruiser tonnage larger than the United States cared to accept, and so it caused American officials to reaffirm America s decision never to accept a treaty that would provide lor an expansion, instead of a limitation in navies. I lie proposal, however, was regarded as offering a slight encouragement that it might yet lead to a satisfactory compromise.

J ARAN'S PROPOSALS.

TO STICK TO PRESENT PROGRAMMES.

GENEVA. Aug. 2

As a last effort to save the conference, the Japanese proposed that the British Umpire and Japan should undertake :

(1) That, before December. 1931. they shall not lay down, except for replacement. any auxiliary vessels, besides those included in their present authorised programme.

,2) That the number of ten thousand ton cruisers sliali’ not exceed 12 each for the Unwed States and the British F.mpiro. and 8 for Japan.

(3) That the British Umpire shall have the liberty to utilise, as she thinks fit, the remaining cruisers tonnage in her programme. (•I) That the maximum unit in tonnage of the small cruisers shall he eight thousand. 151 That the United States shall undertake until December 1931 that its auxiliary naval strength shall not exceed that of the British Empire. The concensus of opinion is that such a compromise will not be accepted. Though usually optimistic. Lord Cecil, when on route for lunch, surprised the journalists by quoting the Latin glnditorial phrase “ Morituri Te Salutamus!” (‘‘We about to die salute von! ”)

,«up * M C Vn.MC

(Australian & N.Z. Cable Association.) UNITY OF EMPIRE. OTTAWA, Aug. 3. Speaking at the Government’s banquet here, the Prince of Wales said that if he seme day assumed the Crown, “which stands above all distinction of country, race and party, and serves as the mark of unity in which all differences are transcended,” he trusted lie would ho found wdrthy of his responsibility. In his speech. Afr Baldwin dealt with tin* Imperial Conference. Ho said he regarded “this consultative method of conducting the external relations of more than individual interest, as one of the most interesting and hopeful experiments of that great laboratory of political experiments.”