UNITEDSTATESNOTE

Hokitika Guardian, 28 November 1932, Page 5

UNITEDSTATESNOTE

FAVOURS BKITAIN

AGAINST OTHERS.

(United Press Association —By Electric Telegraph—Copy right.}

WASHINGTON, November 25,

The publication of the United States notes to Britain, France and Belgium on the war debts by the State Department to-night revealed that the United iStates Government’s official posHion to a great extent coincides wion the trend of public opinion, namely, that there is considerable sympathy and encouragement for Britain, but little or no hope is held out for France or Belgium. The note to Britain mention s the seriousness of the situation upon which the “British request is predicated. However, it explains that nothing can be done without Congressional action, and it suggests that, by the current payment being made, ‘‘the prospects of satisfactory approaches to the whole question would be greatily increased.” Thg reply encourages the British Government to mak e a presentation of Britain’s position as a special case looking towards a revision. On the other hand, the notes to Franc© and Belgium are regarded, at least so far as the Hoover Administration is concerned) as closing the door to any suspension.

THE BRITISH ARGUMENT

NEW YORK, November 26,

London press reports concerning the 'British Government’s intention to eend a new note to America, also addresses given on the war debt s by the principal British statesmen, and Mr Garvin’s editorial article in the “Observer,” are noted in America with exception of attention by interested sources. at Washington.

Mr Garvin’s suggestion for a “human touch” in the new Note, has elicited intimations' even in the sources of the greatest British sympathy that 'Britain “must present a convincing Argument why her payment should be suspended and her debts- reviewed, .if it is to modify present hostile Congressional attitude.

It is added that “such evidence as has thvs far been received through the official channels is inconclusive concerning the British economic conditions, although efforts have been made to determine with exactness the weight of the difficulties confronting that country.”

NO CANCELLATION

NEW YORK, November 26

The principal development in the war debt situation to-day was the publication of a iengtny report from the United States Chamber yf Commerce, which is strongly opposing cancellation. The Chamber is advocating a temporary postponement of th© payments by those countries that are unable to pay, a revision of the debts where u is advisable, this being conditional upon the reduction of armaments and upon compensatory trade advantages ter creditors.

Presented “As th e business man’s view point,” the report declared: — “And adjustment made must not tnrow an undiminished tax burden upon the American taxpayer.” The. Chamber made five recommendations j viz: — First: Postponement. •Second : Revision or modification. Third; Definite provision for such treatment of our trade as will assure the access of American goods on fair competitive terms. This is interpreted as advocacy of preferential, trade agreements. Fourth; Reduction in armaments.

Fifth; Rejection of cancellation proposals. The report bears a s its premier signature that of Mr Silas Sfcrawn, and includes those of Messrs Melvin Taylor, Julius Barnes, and other distinguished signatories.

LONDON PRESS REJOINDER. LONDON, November 26. The “Morning Pogt” says; “It has been suggested in certain quarters that Britain must default, because she cannot pay. That would be simply ludicrous, if it were not so mischievous. However inexpedient payment may be in the general interest, the plea of incapacity would deceive no one here, and still less would it deceive our creditors in America. But if, between now and December 15th, America can be disr/uaded from the course that is indicated in President Hoover’s note i so much th© better for everybody, but it not, default cannot merit a moment’s consideration.