A REALISATION

Rotorua Morning Post, Volume 2, Issue 412, 22 December 1932, Page 5

A REALISATION

AMERICA'S ATTITUDE Rec. Dec. 22, 1.10 a.m. London, Dec. 21. It is expected that the debt talk between London and Washington will begin sometime in January. The Daily Telegraph diplomatic correspondent understands it will be only in the nature of exploration. The feeling here is that it may be useless to call the World Economic Confei"ence until the debt settlement is reached at least between America and the principal debtors. Several commentators deduce that

Mr. Hoover's latest message shows America's anxiety to hasten Great Britain's return to the gold standard. It is understood that Great Britain is in no hurry to exchange. The Washington administration is determined to use every influence to speed the restorationThe Times in a leader says that Mr. Hoover is apparently determined to initiate his own responsibility, but he may need the co-operation of Mr. Roosevelt. Congress discussion on the debt question will be welcome as an agreement must be reached before June in order to avoid a crisis. A series of defaults would be disastrous to the countries coneerned. The message shows a broader and more realistic attitude than earlier messages. This may indicate a clearer American grasp of the economic realities, but there is a striking omission of reference to tariffs, or to paying debts by goods and services.