MR. ROOSEVELT'S TALK

Auckland Star, Volume LXXII, Issue 2, 3 January 1941, Page 5

MR. ROOSEVELT'S TALK

Significance Not Lost On

Hitler.

CALCULATIONS UPSET.

RUGBY, Jan. 2.

The significance of President Roose\elte talk has not apparently been lost on Hitler, whose New Year proclamation to the German people is regarded in Louden as .that of a man whose grandiose calculations have been completely upset by the American exposure of his designs and British resistance to their execution. "The Times" regards the proclamation as more sober than some of Hitler's recent outpourings, but finds in it abundant proof, if proof be needed, "of malignant militaristic ambitions." "Where was the 'new order' when Hitler began the war on Poland?" it asks. One feature of the proclamation which attracted attention was its implicit recognition of the hopelessness of attempts to placate the United States, and the familiar references to "have" nations were clearly intended to cover America. Hitler's attack on the democracies as greedy capitalists, "oppressing nations and gathering together their so-called wealth," is obviously designed for internal consumption oince it can hardly be expected to convince those with experience at firet hand of Nazi exploitation or spoliation. Germany is, in fact, now busily tngaged in making herself a "have" Power at the expense of her "have not" neighbours.

AMERICAN HELP.

Mr. Roosevelt's New Loan Or

Lease Plan.

INFLATION DANGER SEEN.

WASHINGTON, Jan. 2.

President Roosevelt is preparing a message to Congress definitely pitting the United States against the aims of the Axis and expanding on the necessity of aid to Britain.

Mr. Roosevelt will appear before Congress personally on January C. It is expected that he will outline the new loan or lease plan under which the United States will help Britain, Greece and China.

The Federal Receive Board, in a special report to Congress, the first in its history, has asked for a drastic increase' in its monetary powers at the expense of the Treasury and urged that the President's power to devalue" the dollar be allowed to expire on June 30.

The report stated that broad changes in fiscal policies, monetary and "machinery, are needed, because, in view of defence spending, it may be necessary to take steps "to prevent inflationary tendencies attributable to defects in the machinery of credit control."

The board recommended in addition: The immediate repeal of the Treasury's power to issue silver certificates against the seigniorage of silver (the difference between the purchase price of 77 cente aii ounce and the established value of one dollar 29 cents, which amounted to 1,500,000,000 dollars on previous purchases).

Repeal of the Treasury's power to issue currency against foreign silver.

Use of the Treasury's stabilisation fund, heretofore reserved for stabilising the dollar in relation to foreign currencies, to absorb and control the excess reserves of United States banks.

M.P. REPORTED KILLED.

(Reed. 2 p.m.) RUGBY, Jan. 2. Flying-Officer J. R. Rathbone, Conservative member of the House of Commons, who was earlier reported missing, is now reported to have lost bis life in operations against the enemy.