DEBT CONFERENCE

Hokitika Guardian, 27 February 1933, Page 5

DEBT CONFERENCE

WORLD ECONOMICS

U.S. SECRETARY’S OBSERVATION

(United Press Association—By Electria Telegraph—Copyright.)

WASHINGTON, February 34The newly appointed Secretary ofi State 'for the Roosevelt Administration, Senato r Cordell Hull, said at a press conference to-day, “Ther© ,should be no laxity ,on the part of this Oi* any other nation in the observance both of the letter and the spirit of Treaties, .and of international good faith.” 'Senator Hull said .h e would talk on Monday with the French ambassador, and soon with the British ambassador to Ibegin arranging the mechanics for the debt conference. The war debts were described by Senator Hull as but one factor in the restoration of world economic relationships. He pointed to the rehabilitation of world commerce, and the maintenance of peace as Die two great fundamentals upon .which would rest the success of th© Roosevelt Adminio* tration's foreign policies. H© said t '“I cannot undertake at this stage to discuss either o r programmes. There has been a general letting down since th© war, of moral and pbliUesV standard* by iboth peoples and governments. There should be no .laxity on the part of this or any other nation in tlie observance both of the letter and Spirit of treaties and of, international good ifaith. There should her sane and. realistic international cooperation keeping in’ mind our traditions and out iconstitution, to aid in preserving the ~ pea<--e of the world. This policy is vital. . This .nation henceforth must plav its full part in effectin'* the normal restoration' ■of national economic relationships, and in a world economic rehabilitation, from ■which alone a business recovery in a satisfactory measure can -be hoped for.”

Sir (Ronald Uindsav called on s\fr Stimson (U.S. Secretary), to-day, buff neither : would discuss their' subjectmatter. An impression grows . stronger daily ill well- informed circles that economic problems have a mope ’ prominent place' in-, the White House discusslom than the debts,, , and ihaft agreements designee! to stabilise currencies ' and stimulate trade may' be agreed upon in principle ; before the. _ debt question is formally considered.