DEBT REVISION.

Auckland Star, Volume LXIV, Issue 98, 28 April 1933, Page 7

DEBT REVISION.

WAR PAYMENTS. NO AGREEMENT YET. Discussions Probable After World Parley. TALK OF TARIFF TRUCE. (United P.A.—Electric TelegTaph—Copyright) 1?*! ' (Received 10 a.m.) WASHINGTON, April 27. President Roosevelt is willing to consider war debt revision after the World Economic Conference, but it was emphasised authoritatively on Thursday at the White House that he lias entered into no agreement for the postponement of the June 15 payments, or laid down any plan of debt settlement. Simultaneously, at the State Department, Mr. Cordell Hull, Secretary of State, indicated to reporters that a world truce on tariffs pending the convening of the World Economic Conference at London in June is under consideration, and the United States is favourably inclined toward it. As for future war debt revision, hints were dropped at the White House that this subject might be gone into considerably at the conclusion of the world economic parley. Meanwhile, it was said that the President still expects the June payments to be made. Of course, after further conversations with the debtor nations, which arc now in progress, some adjustment may be worked out for the June dues, but that stage has not been readied.

Sir. Hull said, in answer to questions, that he did not think Mr. Norman H. Davis, President Roosevelt's special Ambassador abroad, had received instructions to propose that the tariff truce be called for Saturday, when the formal invitations to the London meeting are to be dispatched to all nations. At the same time, he said that this matter, as well as other tariff proposals, will be gone into thoroughly. Will Follow Administration. Ho remarked that it was not impossible that a definite decision on the practicability of a truce would be reached by Saturday. The Speaker, Mr. H. T. Rainey, told newspapermen to-day that he personally is opposed to granting further moratoriums on war debts, but he quickly added: "If President Roosevelt asks for such postponement, I will support the Administration." Mr. Roosevelt announced last evening that he is considering recommendations for action by Congress on war debts and tariffs. The recommendation in regard to war debts, it is understood, is that Congress should give him authority to grant a moratorium on the payments until after the World Economic Conference in London. This move is authoritatively said to be conditional only upon the agreement of France first to meet her defaulted interest payment, which fell due on December 15 last. Senator Pittman (Democrat, Nevada) told newspapermen on Thursday that the increase of 100.000,000 dollars in the amount the United States may receive in silver as a payment 011 war debts, will be written into the Administration inflation programme. -

INFLATION POLICY. Roosevelt to Reduce Dollar Gold Content. REMONETISING SILVER. (Received 11.30 a.m.) WASHINGTON, April 27. The Senate on Thursday approved the section of tho inflation proposal that would authorise the President to reduce the gold content of the dollar. Under a motion made shortly before the vote, this action - did not affect the silver coinage amendment inserted by the Senate authorising the President to remonetise silver at any ratio to gold he sees fit, and that remained in the bill. -