AMERICA SHOCKED.

Auckland Star, Volume LXIV, Issue 113, 16 May 1933, Page 7

AMERICA SHOCKED.

Mac Donald Broadcast on Talks With Roosevelt. WORLD PARLEY AND WAR DEBT WASHINGTON, March 9Amerieans got a shock, when, in a national "hook-up" of a broadcast speech by Mr. Ramsay Mac Donald, they hearj the British Prime Minister declare that he and President Roosevelt were in agreement that the World Economic Conference on June 12 could not be a success unless a settlement of war debts was reached at the same time. ; Official Washington was thrown into consternation, and it was officially declared that the President is adhering steadfastly to his refusal to throw debts into the Economic Conference. He contemplates that the debt negotiations arid the Economic Conference negotiations will proceed on parallel lines. The Roosevelt strategy is to give debtor Governments to understand that there is "not a Chinaman's chance" of getting debts scaled down unless the American people are convinced that such is to their interest. His idea is that only the successful issue of the conference giving promise of restored foreign markets can possibly persuade the American people that it would be good business to reduce debts. The President is emphasising to debtors that revision will not even be considered unless they join with the United States in conference agreements for stabilising currencies and removing tariff and other obstructions to international trade.