DEBTS AND TRADE

Hokitika Guardian, 13 February 1933, Page 5

DEBTS AND TRADE

U-S.A. ATTITUDE

EUROPE MUST RECIPROCATE.

United Press Association—Fy Electric Telugi pn—Copyright.)

WASHINGTON, February 11

A further crystallization, apparently of the American attitude that Europe must make concessions for any modification of her debts, seems to be indicated by various expressions today from bi-partisan sources. Senator Lewis, i;n a iSeuat e speech, called for the cancellation of the plans for the review of the British debt if it should be confirmed officially that. Hire British Minister, Sir R. Linasuj, has been instructed to inform the United .States that Britain contcm plates no quid pro puo.

The Secretary to the Treasury Mr Ogden in a speech at Kansas City, to-night declared : “The Ameri can people are entitled to compensatory advantages (for sacrifices they may be called upotl to make,” and h e also insisted that “the debtor nations call fairly be asked to make definite contributions to a common programme intended to remove the barriers which now stand lin the way of returning prosperity.”

The Democratic Leader of th e House of Representatives, Mr Rani Say, speaking before the Washington College of Law, declared that the European suggestions for America to accept a ten per cent, lump .sum (in settlement of the debts would not be acceptable, and he gave a warning that repudiation would be an “unfriendly act,’’ one sure to be followed by “adequate measures of retaliation.”

Mr Silas Stravn, in a Chicago radio address, declared that organised business believed any fair settlement should assure access for America” goods to th P European markets, “on a fair competitive basis.”

NORTH AMERICAN TRADE

AN IMPROVEMENT SHOWN

(United Press £ isociation—By Electrn Telegraph— Copyright.)

MONTREAL, February 10

For the first time since December. 1931, the total bank clearings from thirty-two reporting centres throughout Canada shows an 1 increase over the corresponding week of the previous year. The increase was 24,351,449 dollars, or .10.79 per cent.

Retail Trade better. NEW YORK, February 10. A dharp improvement in the retail trade and larger activity in the pa.ncipa*l 'wholesale markets, ar e reported by the mercantile reviews. While the heavier industries are s t: ’U moving sluggishly, th e cold weather has materially aided many lin e s of winter business. It is believed the new buying will probably clea r °ut meet of £h e winter stocks.