WAR DEBTS

Hokitika Guardian, 10 July 1931, Page 3

WAR DEBTS

UNSETTLED MATTERS. (British Official Wireicss.) RUGBY, July 8. Outstanding points in connection with the war "debt holiday remain to oe dealt with by a conference of experts from the Governments that are parties to the Young Plan, and the experts are expected to meet at London on the 17th inst. Three main points for investigation by the experts involve matters- which do not directly eohcef’n th&Sg&Jjierican Government :

Firstly; the-demand for common action by the principal •*centWte banks through the Bank of International Settlements;.'to organise assistance for European ...countries, particularly affected by the" proposed suspension of payments; secondly, the question of a guarantee fund; thirdly, technical adjustments in regard t o deliveries in kind, to reconcile actual needs with the spirit of President Hoover’s proposal. On the completion of their work by the exports, a conference of Ministers will be called, but no date has yet been fixed for such a meeting. Acting-Secretary Castle announced to-day that the United States Governmen will send an observer to the technical experts’ committee, meeting in London. Discussions with the French Government regarding the proposed meeting in London, of the experts from the Governments of, the// Powers whiclft are parties to the Young Plan,••are still proceeding. It’ will/be'the duty/of the experts to examine matters upon which the observations of the French' Government were attached to the announcement of. - they agreem ntr with America on President.'Hoover’s’ proposal. While it is. recognised in Paris that a, conference of Ministers must follow the meeting of experts, a final reply from;the- French Government is necessary before dates and other de-

tails may be arranged. Meanwhile the view is expressed in’Paris that the suggested period of one.week may ’move insufficient for the experts, who are to open their meeting on July .17.

“The Morning. Pest”, says: Everybody will cordially endorse the satisfaction with which President Hoover welcomed the Franco-American settlements, but if the universal enthusiasm with which President Hoover’s proposal was at first received is to be revived, further delays must at all costs, be avoided. It is therefore, urgently to be hoped that the conference will be held most promptly, and that it will promptly reach its conclusions. The Hover moratorium provided, it . comes /into immediate operation will undoubtedly, confer incalculable advantages upon the much; ha rased world. # “