DEBT TALKS.

Auckland Star, Volume LXV, Issue 129, 2 June 1934, Page 9

DEBT TALKS.

INVITED BY U.S.A. President Roosevelt's Message To Congress. LEGISLATION UNNECESSARY. ;Uaited P.A.—Electric Telegraph—Copyright) (Received 11 a.m.) WASHINGTON, June 1. "No legislation at.this session of Congress is cither necessary or advisable," President Roosevelt declared in his war debts message to Congress to-day. "We are using every means to persuade each debtor nation as to the sacredness of its obligation and also to assure them of our willingness if they .should request to discuss frankly and fully special circumstances relating to their means and methods of payment." The American people, the message said, are not disposed to place an impossible burden upon debtors, but are nevertheless in a just position to ask that substantial sacrifices be made to meet debts. Repayment of debts, the President reminded Congress, "has gravely complicated our trade and financial relationships with borrowing nations for many years." The message also warns that the American people are certain to be frwayed by the use which debtor counties make of their available resources, whether they be applied to the purpose of recovery as well as for reasonable payment of the debt owed to the United States, or for the purpose of unproductive nationalistic expenditure or like purposes.