DEBT PAYMENTS

Hokitika Guardian, 29 June 1931, Page 5

DEBT PAYMENTS

A CRITICAL FRENCH DEBATE

United Press Association.—By Eiectri#

Telegraph.—Copyright.. 1

PARIS, June 27

After a long and exhaustive dehate the Chamber or Deputies, at 6.45 a.m., adopted a fougeres motion, approving of tne Government’s reply to President Hoover, and adding that the Onaniher relies on the Government L> maintain intact the unconditional annuity c !itract that was signed in The Hague Argeement. All night long, speaker after speaker expressed his views, and at one time it look (1 likely that all of the Left Group would vote agiiu-t the ritilicalion of the plan, in which the Government might have been narrow!v defeated.

At 4 a.m., the Deputies there almost won out by the length of the die bate and the excitement. Then there came a brief interval, after which M. Kerrict vigorously voiced 1;ln; views of the Radical Socialists, declaring that his party would not support any motion which did not assure respect for the Pact contracts.

Just before the vote, M. THum announced that the (Socialists party would vote with the Government. .

EFFECT OF THE VOTE

NEW YORK, June 27

Before sailing for Europe to-d.iv, the Secretary of State, A!. Stunson, said that Friday night’s vote of confidence by the French Parliament was a. clear indication that France and the United States would reach a satisfactory agreement on the debt reparations moraorium.

U.S.A. MINISTERS

MISSION TO EUROPE.

WASHINGTON, June 28

The Secretary for State (Mr Stimsen) will sail on Saturday on the Conte Grand for Naples. He had previously planned to spend a vacation in Europe, but he may participate in the negotiations to suspend the war debts payments. Secretary Stiinson said to-day that he was encouraged in the negotiations for reparations and war debt moratorium plan, as the result of two. conversations lie had with the French Ambassador M. Claudel.

RUGBY, June 25

Mr Mellon left for Paris to-da.v. He declined to discuss the pupose of his mission, hut newspapers anticipate that he will discuss with the authorities the details in connection with the French reservation to Mr Hoover’s proposals, which ar due to take effect on Wednesday. Mr Mellon lUny visit Berlin after Paris,

The general acceptance in principle o Mr Hoover’s proposals hud n unfit; effect on the business community. Thre was an optimistic tone on the Londo Stock Exchange to-dav. Active trading in British funds increased and public inquiry for industrial shares was a feature of the market.

CANADA ACCEPTS MORATORIUM

OTTAWA, June 26

Canada is prepared to accept Air Hoover’s war debt postponement proposal. in principle, Ur a one year mor■>■‘•orinm o-i all the Government debts. The Prime Minister. Air Bennett, announced this in the House to-dav.