"STEP TO SANITY."

Auckland Star, Volume LXIV, Issue 18, 23 January 1933, Page 7

"STEP TO SANITY."

WAR DEBT DISCUSSION. First Big Issue in Roosevelt Regime. PARLEY WITH ALL DEBTORS. (United P.A.—Electric Telegraph—Copyright) WASHINGTON, January 22. Following the conference at White House with President Hoover, Mr. Roosevelt proceeded to Warm Springs, Georgia, for a final conference with his party leaders, preparatory to forming a Cabinet. He appeared to be greatly pleased with the results of the conference, which is natural for several obvious reasons. First, that the earliest differences of opinion regarding procedure between himself and Mr. Hoover had been settled entirely in his favour. Secondly, that mention of world economic matters will leave the way open to him to implement, if possible, his tariff reciprocity thesis, also to "bargain" for other concessions. Thirdly, that, contrary to the policies of Presidents Hoover and Coolidge, Eifo pean envoys will be coming to Amenco. instead of the former continual stream of representatives going to Europe. There is every indication that Mr. Roosevelt, after lie is installed, intends to attempt some bargaining to get certain advantages for the United States in return for a cancellation of all or any part of the war debts or for a substantial reduction. Britain's First Preference. Contrary to earlier speculation, the Hoover Administration will have nothing to do with the negotiations. It has merely been authorised by Mr. Roosevelt to invite Britain, as the first preference nation, to send a delegate after March 4, thus moving up the date of the renewal of negotiations at least a month, perhaps longer. Mr. Stinison's State Department will co-operate with Mr. Roosevelt's experts in preparing and presenting the material, but it will have no voice in formulating the American programme. It has been apparent in Britain for some time that it was the latest official Note to America, asking for an early renewal of war debt negotiations, which has resulted in the conference. Although the communique mentions only Britain, Mr. Roosevelt reiterates that the negotiations would be "open to all debtors." It is understood that no new Note will be sent to Britain. Mr. Stimson has--merely stated an oral invitation to Sir Ronald Lindsay, the British Ambassador, to act according to the. communique. Series of Discussions. The "New York Times" political corresppndent from aboard Mr. Roosevelt's special railway carriage, telegraphs: "Mr. Roosevelt expressed complete agreement with the communique. It" was said that Mr. Roosevelt signified his willingness to begin with Britain what would undoubtedly be a series of war debt discussions with this and other nations, because the British Government requested it. "Mr. Roosevelt feels that the most important factor in his agreement with Mr. Hoover is the fact that a month will be saved, permitting Britain to select a representative who will present his case almost immediately after Mr. Roosevelt's inauguration. "Future procedure is still doubtful. There is a possibility that Mr. Roosevelt \v;ill appoint special representatives to talk with the British emissary here, or that he may decide to participate himself with his Secretary of State. "In either event, Mr. Roosevelt will keep abreast of developments." America's Search for Trade. It is learned that Mr. Roosevelt expects the British envoys to be in Washington when he takes office and hopes that the war debt discussions will be completed before the next payment is due, on June 15.. The President-elect made it clear that he does not regard France's failure to pay her December 15 instalment ' as default, but rather as a deferment. It is predicted that the war debt discussion with Britain will be kept separated from the conversations on means of improving the world's economic situation, and that separate delegations will handle the two problems. Mr. Roosevelt expects nations other than Britain to seek a new schedule of debt payments. When he becomes President he may make the discussions with Britain, and possibly with other Powers, an instrument for seeking tariffs and trade. He mentioned this matter frequently during his election campaign. ' The leading newspapers in the United States for the most part welcome Mr. Roosevelt's announcement of the debt conference. "A step toward sanity" is what the "Baltimore Si|u" calls it.