U.S.A. ECONOMIC POLICY

Hokitika Guardian, 17 September 1931, Page 5

U.S.A. ECONOMIC POLICY

RUMOURS OF CHANGE.

NOT SUBSTANTIALKD

(United Press Association!—By Electrie

Telegraph. —Copyright.;

Washington, September is

Yarious rumours of mom-n toils changes in American policy, having international ramifications, nave piayed an important part in the news lure to-day and they were Mleei>-ci in an irregular stock market and trading. r l he first rumour was the report that the United Federal Reserve Board, in a lengthy after-dinner discussion last night, with President kioover, had suggested that the President should immediately extend 'the war debt moratorium to a period oi from three to five years. It is also announced that the bankers, at the same time, urged President Hoover to recommend legislation allowing the use of beer, containing three per cent, of alcohol, as a means of restoring business and of increasing ihe national revenue.

Later, however, President Hoover's secretary declared that the reports were fabrication's, and the secretary further issued a formal denial of the London “Daily h,.—w announcement that President Hoover is Considering a proposal to call a World Trade Conference,

LABOURITE’S PROPOSAL

INTERNATIONAL economic

CO-OPFRATION

LONDON, September 16,

Mr Walter Citrine, the General Secretary of the Union Congress has sent a message to the United States suggesting that President Hoover should- invite the co-operation of the trading nations to investigate the present, economic disorders, which no single' country could -solve.