AGREEMENT REPORTED

Hokitika Guardian, 27 October 1931, Page 5

AGREEMENT REPORTED

FRANCE AND UNITED STATES (United Press Association.—By Electric Telegraph.—Copyright.) NEW’ YORK, October 24. i The ‘‘New York Times’s” Washington. correspondent says the following conclusion.is have been reached between President Houver and M. Laval, the ; Premier of France: j (1) There- are to be no further witli- ‘ drawn Is, of gold by France from the United States without prior consultation. with -the central banking instituions of both countries.- q . (2) The Federal, reserve discount rate at New York may he raised to 4 per cent. (5) No public action affecting the mutual interests of either country will he taken without prior consultation. (4) President Hoover will make no proposals for am extension of the debt moratorium without prior consultation with France. (5) No proposal will be made by the United States for revising the Young Plan and German Reparations. CREATING CONFIDENCE. A FRANK DISCUSSION. WASHINGTON, October 25. Ways to use the well-stocked, banks of the United States and France- and to create the blessing of confidence, were devised on Saturday, by President Hoover and M. Laval, Premier of France.

Tired, but smiling, the President made it clear that- his starting point had been a belief that the. American people and other nations would suffer more from frozen confidence than from frozen securities. H.is aim, as also that of 31. Laval, had been, lie said, to find a way for spreading confidence both in intermitirial relations and economics. They felt that they had succeeded. 31. I nival told of being deeply impressed by the greatest possible frankness and cordiality of his talks with President Hoover. The subject of inter-Governmental obligations, ospeeialy ; those., arising from the war, were approached.-with‘the realisation that- no final steps could be decided, and that any conclusion- would have to be approved by the national Legislatures. » A statement will be issued later. It is known, however, that tliei'e will be nothing therein in the way of : an American guarantee for the.security- of France. • ' ~ \

From the speech the French Premier made on his arrival at New York it has been hinted that he would press for the promises of co-operation with France in war time if needed, but no slich 'discussion occurred at the conference. NO AGREEMENT. 31. Naval and Senator W. E. Borah failed to find an understanding on international and political relations at a conference on Saturday night. At the end it was plain that each held to the views he held at-the start. The opmioin is expressed -that there is no prospect of any agreement between France and the United States on -such questions as disarmament and war debts at this time. “We found ourselves no closer together,” Senator Borah said, “when we parted than when wo started. We talked over everything. It was a very pleasing visit and very frank.” It is the Senate which must finally ratify any Franco-American agreement. In the consideration of any such agree, ment Senator Borah lias a powerful voice. The Secretary of State, Mr H. h. Simson, dropped in occasionally on the conference, which was held in the study of his home, after a formal dinner to the French Premier. FRENCH OPINIONS. PARIS’, October 26. “Le Matin” describes the Hoover- • Laval conversations h,<s a victory not for France, but for good sense. Other newspapers stress the moral resuli of 3L Laval’s visit and claimthat the absurd legend,s about France have been dissapated nobody can now doubt Pacific intentions. , 31.-LAVAL’S NEXT JOB. PARIS, October 26. 31. Pertinax in the “Echo de Paris” predicts that 31,. Laval will shortly summon an advisory committee of experts to examine the duration of the Hoover 3foratoriuin, and Germany’s capacity to pay reparations.