PREMIER PRAISED

Hokitika Guardian, 16 June 1933, Page 5

PREMIER PRAISED

TOKEN ACCEPTED VISION, COURAGE, CO-OPERATION. (United Press Association—By Electric Telegraph—Copyright). LONDON, Juno 15. The “Times” in a leader save, that nothing could be more satisfactory than the Anglo-American agreement. Mr Roosevelt deserves world-wide credit for bis vision, courage and cooperation, despite domestic difficulties, enabling the negotiation of a final settle.'ment in ra atmosphere of goodwill and mutual accommodation.

The “Daily Mai-l” says that Mr Ecorevelt accepted the proffered payment in a generous and statesmanlike spirit. Congress itself can h'-rdly dispute the ruling of the United States. Treasury in 1925, which declared that it was axiomatic that no nation can be required to pay to another Government sums in excess of its capacity to pay.

Other press comment expresses the opinion that the way is now open for a substantial trade recovery.

City business circles received the news of the debt settlement with relief after a day of sUspeh.se. It Is likely that the announcement will have a splendid reflex in the markets,

' To-day the “Financial News'* eaya the t Teal progress has been made towards a general understanding on the subject of currency stabilisation. M-r R. B. Bennett has had some long '’o.nversatjons with Mr Cnam&<wain and Mr Hull. Well informed French circles relieve that the agreement wild be only a matter of days.

The “Sun” Service s"y<s: Possibly Australia’s future war debt payments tn, -Britain will be affected by the result of Mr Roosevelt’s decision, because it is unlikely that it Australia has to resume payments, Britain will ask a higher ratio than she is paying America, namely ten per cent. M. Lebraton (Argentina) opposed the quotas, and added that the primary producing countries were encouraged to produce during the war. Now, acute nationalities in Europe had closed the markets, resulting in an excess of ncultural products. The “Mad” learns that France will not follow Britain’s example of a token .payment to America, as the Chamber’s resolution in December, refusing payment pending the debt conference, constitutionally prevents a. payment in form. The “Tim*” R> corresponded .states that Latvia and Esthonia wib not. pay America.

TWO COUNTRIES defaulting. OTHERS PAYING A PORTION. LONDON. June 15. ‘ The London “Mail’s” Brussels L **' .respondent says that the Governmenthv informed America, that it will be unable to pay its debt instalment. Poland is also defaulting. Italy, Rumania and Czecho-Sm\ak-and making -a .partial payment. Finland is paying in full.