DUE THIS WEEK

Dominion, Volume 26, Issue 67, 12 December 1932, Page 9

DUE THIS WEEK

Payments of War Debts CONDITIONS EXPECTED Negotiations for Revision WASHINGTON’S ATTITUDE By Telegraph—Press Assn.—Copyright. (Received Dec. 11, 7.20 p.m.) New York, Dec. 10. "It is accepted here as now certain,’’ writes the 'Washington correspondent of the "New York Times, “that both Britain and France will make the war debt payments due next Thursday, but may attach conditions to the payments relating to future negotiations aimed at a revision of their debt agreements. It is not believed that any qualifications made with the debt payments wilt prove seriously complicating factors. "There does not appear much prospect for realisation of the French hopes, which are reported to aim for Congressional assent to a plan for an international conference on the whole debt problem, should that contemplate simultaneous negotiations with all toe debtor Powers. Both President Hoover and the President-elect, Mr. Roosevelt. have declared for separate debt treatment. „ , "The list of debtor Governments petitioning for relief was increased to seven to-day, when Lithuania submitted a Note asking for suspension of the 92,386 dollars due.” DECISION AT HAND Terms of Communication from Britain EFFECT ON LAUSANNE Official Wireless. Rugby, Dec. 9. The Chancellor of the Exchequer, Mr. Neville Chamberlain, who returned from Paris last night, was in consultation to-day with the Acting-Prime Minister, Mr. Stanley Baldwin, and other Ministers regarding the war debts question, which was discussed In the light of the American reply to the British Note and of yesterday’s Ministerial conversations in Paris. The final decision as to the terms of the communication to be addressed to the United States Government will be recorded at a formal meeting of Cabinet, and, although no meeting has yet been convened, it will probably be held early next week. The Prime Minister and Foreign Secretary may return from Geneva to attend. A factor in the situation to which the British Government attaches the utmost importance is the maintenance of the Lausanne Agreement. In the situation created by the refusal of the American Government to postpone the December payments, consultation with the French Ministers was an essential step to this end. It is understood that the French Ministers showed a ready appreciation of the British desire to preserve the Lausanne settlement intact. / -■ ■ , Although the final Cabinet decision has vet to be taken, it is generally assumed here that payment to the United States will be made by Britain next week, and that payment will be made in gold. It is also believed that payment will be accompanied by a definite proposal regarding an early examination of the whole debt question In the light of the present circumBtances. DEBATE IN COMMONS Desire Among Members (Received Dec. 11, 7.20 p..m.). London, Dec. 10. The desire for a debate on the payment of the American debt instalment is being discussed among a section of members of the House of Commons, but ho decision on the subject is likely until Monday. The Government would prefer such a debate to take place after payment has been made on Thursday. Labour, while not opposing payment, would prefer an opportunity to express its views before payment is actually made. It is generally expected that the Note to be sent to the United States will be of such a character as will necessitate a further reply. The Government spokesman, in a categorical statement to the ‘Sun Agency,” said that the Dominions would not have to resume their payments to Britain as the result of Britain repaying America. TO AVERT DEFAULT Hoover & World Conference EARLY ACTION DESIRED (“limes” Cable.) (Received Dec. 11, 6.30 p.m.). London, Dec. 10. The Washington correspondent of "The Times” says that with the object of averting default by debtor nations President Hoover desires the world economic conference to be convened as early as possible and will shortly appoint the American delegation, composed almost entirely of leading Democrats, who will be empowered to discuss international debts. President Hoover is convinced that he must act alone and promptly. He will not seek Mr. Roosevelt’s co-opera-tion. REPLY TO FRANCE Postponement Refused CO-OPERATION LATER Washington, Dec. 9. The Secretary of State. Mr. H. L. Stimson, replying to the French debt Note, said:— “The United States Government has not been able to reach the conclusion that a postponement of the December 15 payment from France to the United States is necessary because of its effect on the problem of recov"The President of the United States

is prepared, through whatever agency may seem appropriate, to co-operate with the French Government in surveying the entire situation and in considering what means may be taken to bring about a restoration of stable currencies and exchange, a revival of trade and a recovery of commerce.” Mr. Stimson told the French Ambassador, M. Claudel, that he believed payment on December la would bring about a more favourable situation for a later examination of the whole question.

FRENCH DECISION Payment With Reservations Paris, Dec. 9. The Prime Minister. M. Herriot, addressed the Chamber of Deputies’ Foreign Affairs Finance Commission. He explained the American Note, after which the Foreign Affairs Commission rejected repudiation and payment without conditions. Payment with reservations along 'he lines of the British formula was favoured by 21 votes, with three abstentions. Payment is to be made on December 15* with a condition that a conference be summoned to revise debts. The Finance Commission also voted, by 25 to 5, with nine abstentions, against payment without conditions.