NEW SCHEDULE

Hokitika Guardian, 24 January 1933, Page 5

NEW SCHEDULE

DEBT PAYMENT

EXPECTED OF OTHER COUNTRIES (United Press Association -By Electric Telegraph—Copyright.) WASHINGTON, January 24. Following on the Hoover-Roosevelt conference, it is learned that Mr Roosevelt expects British envoys to be here when he takes office, to discuss the war debts. It i, s hoped the discussions will be completed before the next payment, due on June loth. At the same time, it is made clear that Mr Roosevelt does not regard Franco’s failure to pay on December loth last as a default, but rather, as a deferment.

It is forecast that the debt discussion uill be kept separately from the conversations ns a means oi improving the world economic situation, with separate delegations handling the two problems. It is understood that Mr Roosevelt expects the nations other than Great Britain to seek a new schedule of debt payments. The new President may make the discussions with Britain, and possibly those with the others, an instrument for seeking tariff trade, agreements, which he has mentioned frequently during his campaign. The “New York Times,” in a leading article, oil the Hoover-Roosevelt debts communique, says that it tends “to remove the impression of stalemate which has pervaded Washington since December Ist, and which has baffled and discouraged European Governments in their approaches to ours.” The leading newspapers of the nation. for the most part, welcome Mr Roosevelt’s announcement on the debt conference. “It is a step towards sanity,” is what the “Baltimore Sun” calls it.

NO FURTHER DEVELOPMENTS.

PRINCIPLE OF SETTLEMENT.

WASHINGTON, January 22

There have been no further developments in connection with the debts situation following on the HooverRoosevelt conference.

Semi-official speculation is now centred on what proposition Mr Roosevelt is likely to advance, and What the Congressional reaction thereto would he. The principle of a lump sum payment or some sort of a shqfrt-term agreement, wiping out the existing sixty-two year agreement, is generally favoured in financial and diplomatic circles.

There is a great desire that Britain should return to the staindarcl, oj should otherwise stabilise her surrency.

Senator Borah has indicated that he would insist on disarmament before agreement to support a debt settlement.

A WARNING TO BRITAIN. AGAINST A RETURN TO GOLD. (Received 8.40 ami.) LONDON, January 23. The “Daily Herald” says: “B|ritain must not accept the invitation with the condition to pledge herself to the return of the gold standard at the end of two years, which is too great a sacrifice. The whole history of the gold standard is one of booms anct slumps. To-day ferty-five nations have freed themselves from gold, and their trade returns show an enormous advantage over those who remained on gold.” The “Dailv Mail” says: “There must be no question of Britain going back to gold on the old basis.