WORLD AFFAIRS

Hokitika Guardian, 17 February 1933, Page 5

WORLD AFFAIRS

ARMS AND DEBTS

REVIEW BY SIR JOHN SIMON (British Official Wireless.) RUGBY, February 15. International affairs were’ surveyed by Sir John Summ _ (British Foreign •Secretary), in a speech at Southampton . Referring to disarmament, he «im« he regretted Ihe Geneva Conference was unable to make mor. e rapid progress, in its most difficult but mo.-u 'essential and urgent task. He proceeded : “The British policy aims not only at (giving a lead for the international adoption of practical methods of disarmament, but seeks by every means in its power to establish a sense of -confidence and mutual understanding between the nations, upon which an effective measure of agreed international disarmament must rest. This is the real relation between our work at Lausanne ■ and our work at Geneva. Ever since the peace treaties, the question of reparations has been a menac e to European stability, and even to European peace. The achievement of Lausanne consists in this, that an agreement was reached between Germany amf her European creditors, which showed bow they might arrive at a final settlement of all claims and disputes about reparations, and which nt once brought about a marked improvement in the prospects for more peaceful co-operation, j It is most important that we should not now disturb that" prospect-. The Lausanne agreement still awaits final ratification, and w e simply cannot afford to do anything which would render its ratification impossible. If the reparations question were to be -reopened, confidence throughout the world would ibo further undermined, and .the -fall in prices and the economic distress of the world would b e accentuated.

DISCUSSION ON WAR DEBTS

NEW YCi'K, February 14

The “New York Times’ ’-’ Washington correspondent says : “Persistent rumours that Mr MacDonald plans to come to America in connection with the discussions, possibly in advance of other delegates, were strengthened today when it was authoritatively learned that Mr Hoover approves, and will do his utmost to facilitate arrangements to provide a reception in the event of h ; s arriving before March 4. It is felt that Mr-. Roosevelt would like to have a long conference with Mr MacDonald before the act ml opening of negotiations, to arrange procedure and discuss other matters. ■lt is understood that th e British f ee l that although the Republicans are not in power, they will form an influential minority ’in Congas, Therefore, Mr Hoover’s approval is desired before "Mr MacDonald embarks for America. That approval wak forwarded to London to-day. Meanwhile, officials hove expressed much interest in Mr Hoover’s proposal to stabilise the foreign currencies with the debt payments. It is pointed out that there are two methods by which this might be effected—the handling of th e credits o,f tho, 3 e countries settlement, or the extension of credits through the International B*-nk by the Federal Reserve system. Whether Congress would agree to either is considered problematical.