DEBTS TO U.S.A.

Hokitika Guardian, 10 October 1931, Page 5

DEBTS TO U.S.A.

FURTHER DEMANDS. Umted P'-osh Association.—By Electric Telegraph.—Copyright.] WASHINGTON, October 8. The Hoover Moratorium launched last June, under sunny auspices aim universal acclaim, is running into thickening weather, as the President prepares to discuss it late this month, with the French Premier, M. Laval.

\v hile, no doubt, Congress will mtily the one years holiday for debt reparations already proclaimed, the question of "extension for 4>yo or three years., is quite another matter. Air

Hoover is under increasing pressure for such renewal. Much of the agitation centres in the New York banking group on which the President may count for support in his new prosper, ty credits programme.

Renewal is also looked upon as imperative in some higher administrations quarters. On the other hand, pain notice has been served on the Piesident that he will find difficulty in Congress, if he agrees to an extension, iff it is not coupled with a definite European agreement to scale down armaments. That may be hard to get,

A plea by Mr Hoover that nations should neither lend nor borrow except •for reproductive purposes, . brought six hundred delegates to the Fourth Pan-American Commercial Conference to their feet with appmuse, yesterday, The President maintained that .finch a Stop would help to prevent ma, , international embarrassments and ecoiH 'omic complications, ... ,

LABOUR'S PLAN

TO CONTROL THE CURRENCY

LONDON, October 9

Sir Stafford Gripps, speaking at Hull, said that Labour had completed its scheme and was ready thereunder to take over the Bank of England, they would control the joint stock banks, and would govern the operations of the discount houses. It was not intended to restore the pound to the gold standard, hut instead to adopt means to prevent the pound from going too low, including the new departure of having at the Government’s disposal foreign investments.