MAY REPUDIATE

Hokitika Guardian, 8 December 1932, Page 5

MAY REPUDIATE

FRANCE AND DEBT

M. HERRIOTT CONCERNED.

(United Press Association—By Electrio

Telegraph—Copyright)

LONDON,' December 7. The “Daily Telegraph” says “it is mo .secret that M. Herriot (i’remier of France) is deeply concerned at the possibility that Britain and Italy may decide to pay America on December :15th, whereas the French Chamber wHI,. in all probability, decide not to pay. 'M. Herriot is anxious to know if France pays America, will Britain expect payment simultaneously from France, while, if France does not pay America, will’Britain still', expect payment from France in order to facilitate i.er own payments to America in accordance with the Balfour formula.

The “Daily-Herald’'' says : Mr R. (MacDonald is informing M. Herriot that Britain will not expect i France to resume payments. M- Herriot is threatened with defeat in the French Chamber in Friday’s war debt debate, but the visit of Mr MacDonald and Mr Chamberlain may save th e situation.

U.S. INSISTANCE ON PAYMENT,

BRITISH HOPES DISPELLED. LONDON, December 7. "The Times” says: .“president Hoover’s message .to Congreve 'has finally dispelled any hope that the United States would not insist on the war debt payment on December 15th. The only alternative to payment m goo da services Ts to pay in gold. ’ This will deplete our gold reserve, will depreciate the gold price of commodities, and also the dollar value of the pound, 'And will close the door foi a. long time to any possibility of Britain’s turn to the standard. The consequences, however, are not so disastrous as would be those of a default. By the tim e that the next payment is-:-due, the whole situation may .have, changed. There is every reason for Mr F. Roosevelt to realise the necessity of international co-opera-tion. The outlook, therefore,- .fe : not completely discouraging.”•, ■: *

ANGLO-FRENCH CONVERSATIONS

RUGBY, December 6. Mr MacDonald is leaving*Geneva tonight for Paris, travelling Jry the same train as M. feerriot, and will b e joined there to-morrow, bv Mr Neville Chamberlain. ■ The British:'.. Ministers will discuss ,-with M. Herriot and M. Germain Martin. (French Finance Minister) the status of ; the Lausanne agreements, in the event , of a continued refusal by the United States to postpone the m*. debt instalments due on December 15. The British, (Government is - -extremely anxious that Ah© :-, work..don© at Lausanne, in devising a settlement of reparations, should not be disturbed. '