AMERICAN VIEWS

Hokitika Guardian, 15 November 1932, Page 5

AMERICAN VIEWS

WAR DEBTS REQUEST MR HOOVER’S CALL. (United Press Association—By Electric Telegraph—Copy righ tj WASHINGTON, November 13. . President Hoover, who is en route' here, on Sunday invited the President Governor Franklyn D. Roosevelt; to confer with him late next week on the pressing international debt questions and oh other Governmental affairs, which, lie stated,-could not be completed before the President-Elect takes office. Mr Hoover quoted to Mr Roosevelt the British Note on war debts. He added) that he had been informed that similar requests had been received from oilier countries regarding debt payments due to America in December. He wrote: “Thus, our Government is now confronted with a world problem of major importance to this nation.” President Hoover reviewed to Mr Roosevelt the war debt question as it had developed during his Administration, and Mr Hoover reiterated his position ns opposed to “cancellation in any form.” Mr Hoover said: “We should be receptive to any proposal from our debtors of tangible compensation in other forms than direct payment—in the expansion of markets for the products of labour and farms. I have stated -that a further substantial reduction ,in world armament, which will relieve our own 'and th© world burdens and dangers, has a bearing upon this question. ROOSEVELT’S ANSWER. NOT YET ANNOUNCED. .WASHINGTON, November 13. Regarding the war debts question, President Hoover, in a telegram to President Roosevelt, febmed the debts “a world problem of major importance,” 'and said that he was prepared to deal with the question “as far as it lies in the power of the Executive; but I am loath to proceed with recomto Congress until I can have the opportunity to confer with you personally.” Mr Hoover explained that the negotiations would certainly overlap into the* next Administration. Thus Mr Roosevelt’s views were desired in the formation of a policy. Mr Roosevelt’s answer has not yet been received, but it is assumed that lie will accept. An Albany (New York) message states that Governor Roosevelt did not comment on Mr Hoover’s invitation to a conference on inter-Governmental matters. The President-Elect is resting at present. WHAT AMERICANS SEE. IN THE DEBTORS’ NOTES. WASHINGTON, November 13. The British and French war debt Notes are, in a. grelat measure, of the same tenor. They point out that there was a. failure of the Hoover Moratorium to accomplish desired objects, and they request a postponement pending a review of the situation. Although official American comment , is still withheld, observers draw the following important interpretations from the communications : First: The Hoover-Laval communique of November 2oth. last, in which Mr Hoover suggested an early settlement of European reparations, in effect connected the reparations with the war debts. . Secondly: There is a broad hint that a .settlement similar to the Lausanne Reparations Agreement would be highly desirable. Thirdly: ..There is implied a desire that the United States shall permit the question to be placed on the agenda of the World Monetary and Economic Conference. , i A POSSIBLE SUBSTITUTE. SOME TRADING CONSIDERATION. WASHINGTON, November 13. Coincidentally to-day with the debt notes, a committee of leading American industrial, financial and law experts, headed by 'Mr Alfred Sloan, junr. (President of tile General Mo- - tors Corporation), and including Professor Nicholas Murray Butler, Mr George Tt. Wickers ham, and Mr James Cox, liftvo issued a report on the situation, based on exhaustive pesoareh. They have recommended the rceonsid- i {ration and revision of the debts in a manner such “as would he best to i advance the interests of American trade, and promote tile prosperity of the American people.” The Com mi tee have rejected complete cancellation, but have suggested an extension of the moratorium U allow time for a readjustment of negotiations.