DEBT PAYMENTS

Hokitika Guardian, 14 December 1932, Page 5

DEBT PAYMENTS

TJ.S. REALISATION UNPOPULAR AFTER DECEMBER 15 (United Press Association—By Electric Telegraph—Copyright. ) jNTSW YORK, December 12. Thei MNew York Times” chief Washington.- idorr espondent writes I “lh"this late hour of.- the international 1 ’ vtlis-cussiansn-of the foreign -debt instal-• meats «due on Thursday, it appears to be dawning on Ongress that, on that date,-this nation will be, the most unpopular community in the World. The correspondent says: “The last British note and M. Herridt’s speech in the Chamber of Deputies to-day seem finally to have brought a realiis-a-tion that friendly admonitions from moderates abroad, and repeated warnings from the domestic press had'

failed to'convey.” • “The general attitude of the United 1 States Congress/’ 'continues the correspondent, “when it assembled, was that the' debtors were bluffing—that they have the money and 1 were simply following the ancient trading tradition of trying to get out of paying it.” The 1 correspondent adds . ' ‘Although it cannot' be said that the attitude of the majority of ’Congressmen. is soft* ening they seemed surprised to learn that the debt payments may really involve serious economic difficulties. “Many,” he- says, “are becoming convinced that the December 15th. payment will he the last under the existing funding agreement and that, under leadership of*Mr Roosevelt, the great Democratic majority will be obliged to lay new foundations before June loth, of 1933.” The correspondent declared that there is no sign of yielding any written bond for the December' payment, and Mr Stimson’s statement to that effect has increased unanimous' . approval in the Congressional cloakrooms. : •

The correspondent further adds: “A epreadiifg feeling, however,' 1 that many Europeans will , execrate the United States next Thursday, ' has impelled most of'the democrats and 'many of the .Republicans to seize ' with much satisfaction Premier Herribt’s declaration, and to blame President Hoover for the/view of the debtor Governments that ’we had alt last accepted the existence of a link' between the debts and the reparations'. 'President Hoover having been overwhelmingly defeated, has little power in Congress. Therefore h© is an ideal goat.” . The correspondent says : “The Hoover moratorium is becoming increasingly Unpopular. Matty Congressmen publicly repent their assent to it, and ttow have, warmly welcotued M. Herriot,B statement that Germany should be required to take, the initiative. Smypathy with Britain is increasing,

, nod the previous flow' of adverse Congressional statements has practically ceased, but the feeling still exists that her pooling of her case with that of France was not an adroit action on Britain’s part.” The disipatoh concludes : “Not the least unfortunate incident in this unhappy week for European America is the fact that the date selected for President Hoover’s annual reception .of the foreign diplomats is Thursday.” A MOTION REJECTED. WASHINGTON, December 13. The House of Representatives by a vote of 361 to 8, to-day rejected a move by Representative McFaddon (Republican, of Pennsylvania) for the impeachment of Mr Hoover on the ground that he had betrayed his country in the war debts moratorium. Mr McFadden said that the, Preeident had usurped the powers of Congress in proclaiming a debts moratorium, and he contended that this action led to the present situation, involving the United States and foreign debtors. Mr McFadden. -had long been a foe of the administration. Pennsylvania Republicans in, the , House later demanded the resignation of Mr McFadden as secretary to their delegation.

A PROTEST FROM PARIS.

(Received 11.40 a.m.)

LONDON, December 13. The “Mail’s” correspondent in Paris says that one hundred ex-soldiers and civilians; traversed Paris (streets last night to the Washington • Statue, where Colonel Laroque laid. a wreath, protesting against the debt payment. There were 460 arrests but all were subsequently released. Laroque. .afterwards went to the American Embassy, and delivered to the Ambassador a,ijetter from ex-servicemen protesting;; against the payment.

NO U,S. REPLY TO 'BRITAIN.

(Received 10.5 a.m.)

WASHINGTON, December 13

The United States will send, no reply to the latest British note. After repeated conferences between Messrs Hoover, Stimson, and Mills, the impression in informed quarters was distinctly that Britain and the United States now understand each others position. No reason is seen, in official circles for the United States "to reject the payment expected on. Thursday.