U.S.A.’S ATTITUDE

Hokitika Guardian, 24 April 1933, Page 5

U.S.A.’S ATTITUDE

PLANS OUTLINED

SUBJECT TO DISCUSSION.

< Per Press Association — (lortyrighl.)

WASHINGTON, April 21

The -position of the United States on most of the outstanding subjects to b e t iken up by Mr Roosevelt and Mr MacDonald is outlined in well-informed circles as follows:

The Administration is definitc-dy committed against- war debts cancellation by the Democratic platform, but is not committed against their postponement, or reduction, though such action would Require Congressional approval. The Administration h is drawn a distinction between nations which have met the payment's, such as Great Britain, and those which have not, notably France. It regards debts as only one factor in the world ec° nom i c condition. Currency stabilisation (internationally is r e girded -as fundamental to a revival in world trade. The United States is ready to join in efforts to establish a revised international .standard, to which national currencies could be attached at new parities.

The Administration is willing to roducc tariffs on the condition that other nations do likewise, and favours a po!cy of tariff bargaining by mutually advantageous reciprocal . agreements A wheat agreement -will be sough* among the other leading whoat-produc. ing nations to cut production to fit world consumption and to avoid heavy surpluses, which have beaten down the. price, y ' The Administration is willing to dis-; cuss the r means'of improving the price of silver by international agreement. It ■would, consider 'bimetallism if all nations adopt it. In regard to disarmament, the heavy expenditures on armies, navies and air forces is regarded as a drag upon the world in it* efforts to recover economic equilibrium. Any ,reasonable movements for reducing armaments, or abolishing those designed particularly for aggression, will be joined. On the score of world peace, the Administration i. 3 committed ‘by the Democratic platform to new provisions for the -Pact of Paris to provide for consultation among the signatories in the event of a threat of a breach. Iti3 pledged against the u s e of force in settling international disputes. - It is .carefully watching public ‘opinion oil this point, however, before, agreeing •to -such a’, consultative plan as nas been proposed by M r MacDona'd, at the Geneva Arm s - Conference. ■ .

U„s. VIEWPOINTS DEFINED

WASHINGTON, April. 21

1 A|s the conflict .stirred m the Senate President Roosevelt directed that the’ controlled inflation legislation be sped to- enactment with the mammoth Farm Bill.’ The debate will b e adjourned if necessary to kill a- filibuster.

An amendment to put. a check on inflation was offered by Senator MeAdoo, the Democrat iSenator. Senator Reed (Republican) said.— “Inflation is a process, by which Governments throw off responsibility and go on a- jamboree.”

FRENCH CURRENCY AIMED AT PARIS, April 22.

The highest quarters hint that M. Herript may be instructed that France will be unable t Q .consider a tariff truce until after the World Economic Conference, concerning which M. Bist, the Deputy-Governor of the Bank of France, say: “For France to enter a conference with the world’s currency divtorced from: gold would be like going to the market with a piece of elastic for a tape measure.” ;

COAIPLETE CHAOS AIMED AT (LONDON, April 21

A “Financial News’’ leader eays: If Air Roosevelt is aiming deliberately at creating complete chaos, as a proper prelude to the new order, he possibly acted rightly, but in the economic world such revolutionary sabotage has '.never beien effective. Britain abandoned gold at the last ditch, whereas America has don e it with the situation entirely under control The whole business, undoubtedly, has been planned in cold blood, and is •primarily a piece of diplomatic blackmail. Tt is especially deplorable that such destructive action should be taken when Air MacDonald and hie advisers are actually on the Atl;..n ic.