NATIONS’ DEBTS

Hokitika Guardian, 19 November 1932, Page 5

NATIONS’ DEBTS

TO BE DISCUSSED BY AMERICAN POLITICIANS. (United Press Association—By Electric Telegraph—Copyright; WASHINGTON, November 17. In a telephone conversation with President Hoover to-day, Mr Roosevelt, President elect, arranged for. a . war debt conference between them to be held at White House on Tuesday afternoon next. Mr Roosevelt will have tme adviser with the Secretary of State, Mr Mills, assisting the President in presenting pertinent data. On the following day Mr Hoover will confer with a bi-partisan congressional delegation, when, it is believed, lie will discuss the general debt situation.

A refinbtl of the postponement of the war debt payments next month has virtually been agreed upon, therefore the Democratic leaders have indicated that Mr Roosevelt will advance. & programme proposing an international conference on all of the questions of economic import.

It is thought possible. that the agenda of the economic conference could be extended to include the war debts, but that it hardly will be possible «> discuss tariff revision, which, Mr Roosevelt believes, would make war payments possible.

President Hoover ha® called a bipartisan parley of three ranking Republicans 'and three ranking Democratic members of the Senate Finance Committee, and of the House of Representatives’ "Ways 'and Means Committee, to meet him on 'Wednesday to discuss the question of the foreign debts. FRANCE! AND BELGIUM. WASHINGTON, November 18. To-day the French and Belgian Ambassadors conferred with the U.S'.A. Secretary, Mr Stimsom, and they later intimated that they lradi not received an answer to the requests made for an extension of the debt moratorium and a review of the debt field. EFFECT ON STERLING. WASHINGTON, November 17.

The apparent rejection by the United States of the Allied Powers debt postponement notes has affected adversely the sterling market at New York.

The pound' has gone off by 21 cents to within of a cent of the year’s low level.