REVISION OF DEBTS

Hokitika Guardian, 17 December 1932, Page 5

REVISION OF DEBTS

BY UNITED STATES BRITAIN MAY BE FAVOURED. (United Press Association —By Electric Telegraph—Copyright/ NEW YORK, December 15. The “New York Times’’ Washington correspondent says: There were indications 1 to-day that President Hoover will soon consult to comment definitely in the case of Britain and the other payers, but indicated considerable sympathy in her favour. It is noted that historical cases where foreign affair s have been negotiated with Congressional representation have usually been successful, while there have been failures without it, and notably in President Wilson's negotiations of the Treaty of Versailles and the League of Nations, which the Senate, without representation on the negotiating body, rejected. The “Times” correspondent outlines the President-elect, 'Mr Roosevelt regarding an. “appropriate agency” for the review of the war debts in anticipation of such a request from Britain in response to a suggestion made in Mr 'Hoover’s last note. It is believed IMr Hoover favours a bipartisan commission consisting of Congressmen ahd diplomats. Although it would be primarily formed to consider Britain’s case, it i 8 assumed that it would extended to cove r other nations, in connection with which tfi« first difficulty has arisen. Leading democrats, who would be sure to figure in any • such'* a commission have indicated that they believed Mr Roose-velt-'would not consent to such dealings, wth France or other defaulters. They would not serve in such a capacity, even if he requested them, • -On the other hand, they declined the steps expected to develop as follows; — Firstly, the receipt of a note from Britain offering the idea of a conmission) which will be acceptable to Congress. fMj- Roosevelt and Mr Hoover, it being noted were the first two lo Have already registered their opposition to the recreation of the deßt refunding commission. : 'Secondly, ’Mr Hoover will communicate with Mr Roosevelt a diplomatic . Congressional commission authorised to hear, separately, ,in Washington the .case for. revision of those debtors who paid to-day. / Thirdly ; . If (Mr. Roosevelt approves of the idea, Mr Hoover will de-patch a * message to Congress outlining the facts, i and giving names of the commissioners 1 who will then proceed to have as early '• a meting with Britain as that country • desires. ' Fourthly;' 'Should Mr Roosevelt dentine co-operation, Mr HooveiM files- i Mge will'merely outline the facts, find 1 leave the entire matter to Mv ftoose- < wit’s, forthcoming administration. lAn alternative suggestion is that Mr t JfooVer will recommend Congress to

form iV* own commission. ,T{n (either .event,' He will recommend trade con-Kfee-sidns in exchange for debt revision and request the World Economic Conference. ‘ The President is represented as prepared to make recommendations to Congress even if Britain fails to request a (revision agency. He feels that any plan's offered should be predicted with the fact that he Jr soon leaving office, and. that the problem will certainly 1 overlap into the Roosevelt ’AdThe question will be taken to the Senate floor to-morrow wheh Senators Borah and Harrison are expected +f make addresses. The French default ’has certainly helped to preclude iany action regarding ’the world court this session. The Domo©rats indicated that they would obieet to holding any executive session which is necessary to handle the Court matter ostensibly wishing to defeat the confirmation of any of Mr Hoover's recent nominations t 0 various offices, although many have admitted that the opposition to, the court is a fear that the debts question might he placed before it.