ROOSEVELT’S VIEWS

Hokitika Guardian, 25 November 1932, Page 5

ROOSEVELT’S VIEWS

ON DEBT' PAYMENTS VARIOUS STANDPOINTS. (United Press Association —By Electric Telegraph—Copyright; ATLANTA (Georgia), November 23. The President-elect, Mr F. Roosevelt, from his train here en route to Georgia, in a statement, -said that the debtor nations oOtuld make the most convenient and (effective contacts with the United ;Stat>s Government through the existing ag~*.»-ies of diplomatic intercourse.

He said. -‘With regard to 1 the general policy in connection with these debts, I firmly .believe that the individual debtor should at all times have access to'the creditor, and should have an opportunity. to day facts and representations before the creditor and als 0 that the creditor always should give courteous,. sympathetic and thoughtful consideration to such facts and representations.”

He added that tips principle applied to nations as well as to individuals.

WHAT OBSERVERS SAY.

NEW YORK, November 23. “Mr Roosevelt ig cautiously, pushing the door open toward debt revision.” The foregoing was'the most important conclusion of observers wh 0 have followed a two-day period of multifarious mter-Party conferences at Washington. These conferences, however, shave in generST, added to the confusion existing in the American mind relative to a settlement of the Knotty question on a basis of intelligent self-interest, if not of generosity,:

Mr Roosevelt issued a'o statemei from his train to-night, when en route to Georgia for a rest., This indicated that he. disagreed with President Hoover’s conclusions, -principally ov the matter of the Reduction of Debt Commission, Mr Roosevelt- preferring to treat with each nation separately through statement lias created -a -favourable impression among those who are seeking for leniency for the debtor nations. The lack of a clear-cut, definitelyoutlined policy on th&'fspart of Mr Roosevelt, however, is not -considered surprising.' •• Wt

•Mr 'Speaker Garner touched the nerve of the matter in a .statement he made to-night, viz.: “There- have been 350 new members of Congress elected. Who can < tell what will "> be their minds?” : . '

■ Even as the. principal c/merences at Washington concluded, the Polish Government handed the State 'Department a not© also asking for debt postponement and revision. It was rather anti, rlimatical, • for Mr Stimson (United Ftatets Secretary), who was handing America’s reply to France almost simultaneously, and similar repMfa were being drafted for other nations virtually 'presenting President/ Tfoover’s conclusions,

METHOD OF NEGOTIATION - ,

SENATOR REED’S VIEWS.

WASHINGTON. November 23

Senator Reed has expressed the opinion that the President could conductconversations with any debtor nations without Congressional option, but President Hoover has pointed Out that a rider was added to the-Congressional fhoprova] of last y(ea,r’s moratorium which rider virtually tied the executive’s hands in this direction..’?.;

There • considerable comment on ■fbe apparent broadening of the President’e views on the debt question, as outlined in his statement, particularly hi s suggestion to interdocking the membership as between a re.rreato'd Debt Funding Commission and the American delegations to the World (Economic and Armament Conferences.

ItTr Roosevelt has intimated his onposition tn the discussion of the debts at the latter two conferences. This is held to sharply contrast with President Hoover’s view.

SPEAKER GARNER’S OPINION

WASHINGTON, November 23

Speaker Garner said: There*'are three questions involved in the whdle problem : Shall we cancel the debt P Shall we reduce the obligations ? Shall we have a cony...cation about them ? Mr Hoover is opposed to cancellation and is opposed to reduction. s b what is the use to hold a conversation? /Speaker “Garner /aid at the Press Conference to-day he thought that the Congressmen w ho attended the debt conference with Mr Hoover had “convinced him that at. the present time would decline to create an emnev to discuss debt s v?ith foreign Powers.”

FORM OF PAYMENT V. 1 .

NOW ACCEPTABLE TO" HOOVER

■NEW YORK, November 23

The President has made a modification of his known opposition to a suspension of the December 15th payments by suggesting that- th»y might be made in foreign currencies, with the transfers delved. This is generally as especially applicable te Britain.

With half of tb- worid stabilised to sterling, there is deep anxiety here lest forced payment of tow debt payment bv Britain at this time might, depress the pound to the point of demoralisation of foreign commerce.

Although the Congressional! leaders it their conference to-day unanimously