AMERICAN DEBT

Rotorua Morning Post, Volume 2, Issue 386, 22 November 1932, Page 5

AMERICAN DEBT

(Press. Assn.-

CpNGRESS ATTITUDE BRITAIN ALONE DESERVES CONSIDERATION AS DEBTOR MR. HOOVER'S INTENTIONS

— By Telegraph — Copyrlght).

Rec. Nov. 21, 7 .p.m. Washington, Nov. 20. It is authoritatively intimated that Mr. Herbert Hoover will probably inf orm the Allies that the payments due on December 15 must be met, but plans to ask Mr. Franklin Roosevelt at the conference on Tuesday to joih him in urging upon Congressional leaders the re-ereation of the debt commission. If he fails to obtain his successor's approval, he may nevertheless, incorporate such reeommendation in his letter to Congress on December 5, though the latter body ignored a similar recommendation a year ago in the President's moratorium message. Mr. Hoover, it is known, would like to effect some arrangement before the end of his term, whereby Great Britain, but not other debtors, would obtain an immediate reduction in payments due to the United States. He feels that such a concession is deserved, because Great Britain originally settled on the basis of the debtor most able to pay, and is now regarded as being in a' less favourable economie position than France and other important debtor nations. There is mueh sentiment in Congress echoed by Senator Watson tonight favouring a reduction of the British debt, but with other nations also seeking a downward revision, there appears to be little chance of favourable action on any of the proposals before reconvening Congress.