WAR DEBTS

Hokitika Guardian, 16 November 1932, Page 5

WAR DEBTS

AMERICAN STAND

0 AWAITING LEADERS’ WOVE,

(Uuited Press Association—By Electric 1 Telegraph—Copyright)

WASHINGTON, November 14

Although opposition"'to a postponement of the War debt payments appears to be the dominant reaction among those few Congressmen now in Washington, the whole question seems to have reached a stalemate,' with practically all of the responsible’ leaders of both parties awaiting 1 an indication of sentiment from ■ their respective leaders, Messrs Hoover and Roosevelt, a conference between whom is now assured, although Mr Roosevelt’s answer, which was forwarded to Mr Hover aboard his special train to-day, clearly indicates that he is not prepared to take a definite stand, the responsibility for which is' Mr Hoover’s until March. ”

Mr Roosevelt’s telegram accepts the offer of a conference, but adds that a definite date must be settled later, not at present. :<■■

Mr Roosevelt comments pointedly: "My I take the liberty 'of suggesting that We make this meeting wholly informal and personal."

He concludes, significantly: "In the la«t analysis, the immediate question raised by the British)' French and other notes oreates .a responsibility which rests upon those now vested with’ executive legislative authority.’’ The only official information was that the Government is- not ready to consider any general conference for a revision of the war debts.

r llhe State Department explained that it has not changed its attitude that the debt settlements was a- matter for individual negotiation-on the basis of so-called unilateral agreements. A number of Democratic Congressmen have privately declared! that they are opposed to Hoover-Rbosevelt cooperation. They express the opinion that the present Congress should settle the matter, and leave .the forthcoming Congress clear. However, such Democratic leaders -as Senators Walsh (Montana) and George (Georgia) said that Congress should be convened before the; scheduled date, December sth., and the question then b, e settled in accordance with an agreement reached between Messrs Hoover and Roosevelt.

All are agreed that Congressional action ’between the fifth and fifteenth December will be impossible. A number of Congressmen,: mainly Republicans, are taking tlie position that neither Ifcvision hor cancellation is desirable ufitil the we available, which, they triairitain, is hot the present condition. -At a matter of fact, an agreement with the British and French notes'’would mark » complete reversal of the opinion of Congress as voiced on December 10, 1931, when a joint resolution was 1 passed declaring it was against the policy of congress that the debts should be in any manner "cancelled or reduced.” :

The press reaction throughout the nation is somewhat clouded by'unusual circumstances involved in Mr Hoover’s message to Mr Roosevelt, 'which is urn precedented in American history. Practically all of the newspapers tacitly admit that the question is-'Sh delicate and’ the consequences so far-reaching that they are reluctant to • express a definite opinion. Instead, they emphasise the serious situation"--' and the necessity for wise concentrated action, the majority believing, that much good may come from the Ho o ver-R o o sevel t Conference. r -

The prevailing attitude seems to continue to be one of anti-Cancellation, with many hoping that tale debts may he revised downward in exchange for some definite benefits frdm the debtor nations. Broadly speaking, the readjustment cause appears to have gained some recruits.