UNITED MOVE

Rotorua Morning Post, Volume 1, Issue 128, 22 January 1932, Page 5

UNITED MOVE

(Press Assn.-

AMERICA FEARS CONCERTEP ACTION FOR DEBT REDUCTION "VIEWED WITH DISPLEASURE"

— By Telegraph — Copyright).

NEW YORK, Wednesday. The "New York Times" Washing-. ton correspondent says that 'the dis-j closure of Mr. H. L. Stimsoh, in a ■ memorandum of December, to the! French Ambassador, M. Claudel, re-; veals that the United Sfates has. been ■ concerned lest the European powers form a united front against America. confronting her with~,a dernand. for the reduction of Governmental..debts ! in returir for the scaling dowh i of German reparations. ■ .1 i The memorandum besides reiterates i the United States attitude on the question of reparations and war debts, and intimated that a new mora- , torium would stand no chance of- ap-r proval by Congress which would look with displeasure upon the colledtiyie action by debtor nations against the United States. Fear Dissipated The fear of a so-called united front movement, howevez-, is dissipated by the British trades returns, which apparently reflect the MacDonald view that England has frowned upon any concerted debt move. That there would at the outset be a sentiment favouring reducing the terms of the British debt is seen in the attitude of Senator Reed, a prominent anticancellationist, who agrees that stricter terms were reached with Great Britain than with France and other countries.