ROOSEVELT’S PLAN

Hokitika Guardian, 26 January 1933, Page 5

ROOSEVELT’S PLAN

DEBTOR NATIONS

EACH TREATED SEPARATELY. (United Press Association—By Electric Telegraph—Copyright; NEW YORK, January 24. A message from * Warm .-pjang (Georgia) states that'Mr Roosevelt has given authority to Mr Stimson, to arrange for - separate conferences -with the European debtor nations who have met their obligations, and are now requesting an opportunity to talk over relief, standing by lii s policy that all debtors should always have to creditors.

'Mr Roosevelt is, nevertheless, going to have no general conference on war debts. He will take each nation separately and deal with it personally. Undoubtedly as in the cane of Britain. Mr Roosevelt is going to link the forthcoming Economic Conference with debts. In other words, it seems obvious that he will do some bargaining with the debtors, if they want relief. He wants assurances of general cooperation on a programme aimed at world stabilisation, which he hope s to get from the economic parley. The agreements reached at th e Ottawa imperial Economic Conference are likely to b G among tfie «u?)jucr K to !b e discussed when the British representatives confer here with the Presidentelect, Mr Roosevelt, regarding the war debts.

A RISE IN STERLING

OPTIMISM IN NEW YORK

NEW YORK, January *y.

In a strong upswing, 'unprecectein.ro since October, the pound rose three and a quarter cents to-day to close ai 3/39-1- for cables. The Canadian dollar was one-six-teenth weaker at 86|. The sterling rise is attributed to optimism over the war debt situation.

It is also believed that the British stabilisation fund of the Bank of England, temporarily withdrawn from the market, has presumably been selling sterling, in an effort to hold the price steady.

HOPE FOR WORLD CONFERENCE.

HAMILTON (Ontario), January 24

The Premier of Canada, Mr n. M. Bennett, • stated here on Wednesday night that he would attend the World Fccnomic Conference. He said : “With the success of the Emp’re trade agreements on the lips of the world, hope and 'Confidence ring forth for the conference.”

ITALIAN OFFER OF LUMP SUM

ROME, January 25

Italy’s debt commission, wiheir.it goes to America, will p r opose a lump sum payment in final settlement. The figure suggested is twenty millions sterling at par.

ANOTHER CREDITOR FOR U.S.A

BUENOS AIRES, January 24

The Chamber of Deputies of Buenos Aires province to-day approved of the indefinite suspension of tho provincial foreign debt s payments. Tbe debts of the province abroad are the largest of any Argentine Governmental unit, except t'he nation - itself. They approximate 140 million dollars, one-half of which is owned by the United States..