DEBT REVISION

Hokitika Guardian, 29 April 1933, Page 5

DEBT REVISION

U.S; ATTITUDE NO POSTPONEMENT ON JUNE 15. v United Press Association —By FJectrio Holograph—Copyright.! WASHINGTON, April 27. It was stated at White House, today, that Mr Roosevelt is willing to consider war debt revision, after the World Economic Conference, but ne lias entered into no agreement for the postponement of the June Zo payments, nor laid down any plan of debt settlement. Simultaneously, at the State Department, Senator Hull, Secretary of State, indicated that a world truce on tariffs, pending the convening or the London conference in June was under consideration, and the United States was inclined towards it. Regarding war debts, Mr Hull said that after further conversations with debtor nations now in progress, some adjustments might bo worked out for the June payments, but that stage had hot been reached, Mr Hull, ih response to inquiries', said he did not think Mr Norman Davies had) received instructions to propose .ft tariff tl'Uce to be called for Saturday, when the formal invitations to the London conference are dispatched to all nations, though it was not impossible -that a definite decision on the practicability of the truce would be reached by Saturday. Speaker Rainey told the newspapermen, to-day, that he personally is opposed to granting uirther moratoria on war debts. However, if Mr Roosevelt . asked for such a postponement, -lie (Rainey) would support the Administration. Senator Pittman (Democrat, Nevada) told newspapermen to-day, that an increase of a hundred million dollars in the amount the United States may receive in silver, as payment on war debts, will be written into- the Administration inflation programme.

LOWERING OF U.S. TARIFFS. FACILITATING FOREIGN TRADE. (Received this -day at 9.35 a.m.) WASHI-NGON, April 28. Mr Roosev e lt Ins virtually completed his work on the Bi?l to empowe r him to negotiate for reciprocal tariff agreements 'in which the protective wall of the United -States will be lowered to facilitate foreign trade, especially with 'Canada. The tentative draft, it is understood, will permit him to lower rates as much ?ts fifty per cent Flexible provision in the existing tariff law given thi 8 same authority upon the recommendation of the tariff commission. The ttew proposal, however, -would not ilive'!vo action on the part of the tariff commission, Authority over the tariff is sought by the President as part of the world economic programme being advanced in the -present negotiations. The Bill will probably be introduced next week. Before then, -Mr Rocseve.lt and Mr Bennett (Canada). -ai’e expected to go more deeply into trade relationship involving tariff concessions.