WAR DEBTS DISCUSSION

Dominion, Volume 26, Issue 101, 23 January 1933, Page 9

WAR DEBTS DISCUSSION

American Willingness

HOOVER & ROOSEVELT

Conference at White House

ECONOMIC PROBLEMS ALSO

By Telegraph—Press Assn.—Copyright.

(Received Jan. 22, 6.30 p.m.)

Washington, Jan. 20. United States interests in world affairs engaged President Hoover and President-elect, Mr. F. D. Roosevelt In a conference at the White House to-day. The conference lasted for an hour and a half.

The conference was followed by a terse communique stating that a British “representative” would be received by Mr. Roosevelt soon after his inauguration as President for the purpose of discussing debts, with the added significant comment: “It is of course necessary to discuss at the same time world economic problems In which the United States and Britain are mutually interested. Therefore a representative should also be sent to discuss ways and means of improving the world situation.”

Following the conference Mr. Roosevelt proceeded to Warm Springs. Georgia, for a final conference with party leaders preparatory to forming his Cabinet. ,He appeared greatly pleased with the results of the conference, which was natural for several

obvious reasons. First, earlier differences of opinion regarding procedure between himself and Mr. Hoover had been settled entirely in his favour; secondly, mention of world economic matters leaves the way open to implement if possible his tariff reciprocity thesis, also to “bargain” for other concessions; thirdly, contrary to the policies of Presidents Hoover and Coolidge, European envoys will be coming to America instead of the former continual stream of representatives to Europe. Contrary to earlier speculation the Hoover Administration will have nothing to do with the .negotiations. It is merely authorised by Mr. Roosevelt to invite Britain as the first preference nation to send a delegate after March 4, thus, nioving- up the ' date ' for - renewal of negotiations at least a month and perhaps longer. The State Department, headed by Mr. H. L. Stimson, will co-operate with Mr. Roosevelt’s experts in preparing and presenting material, but will have Bo voice in formulating a programme. It is apparent that Britain some time since the latest official Note asked for an early renewal of negotiations which resulted in to-day’s conference. Although the communique mentioned only Britain, Mr. Roosevelt reiterated that negotiations would be “open to all debtors.” No new Note will be sent to Britain. Mr. Stimson will merely’ give an oral invitation to the British Ambassador, Sir Ronald Lindsay, and act according to the communique. Saving a Month. The “New York Times” political correspondent, from aboard Mr. Roosevelt’s special railway carriage, telegraphs : — “Mr. Roosevelt expressed complete agreement with the communique. It was said that Mr. Roosevelt signified his willingness to begin with Britain what will undoubtedly be a series of debt discussions with this and other nations because the British Government

requested ft. Mr. Roosevelt is represented to feel that the most important factor of his agreement with Mr. Hoover is the fact that a month will be saved, permitting Britain to select a representative who will present his case almost immediately after Mr. Roosevelt’s inauguration. “Future procedure is still doubtful. There is a possibility that Mr. Roosevelt will appoint a special representative to talk with the British emissary here, or he may decide to participate himself with his Secretary of State. In either event, Mr. Roosevelt will keep abreast of developments. “There is every indication that he intends to attempt some bargaining to get certain advantages for the United States, in return for the cancellation of all or any part of the war debts or for a substantial reduction." It has been learned that Mr. Roosevelt expects the British envoy here when he takes office to discuss the war debts. It is hoped the discussions will be completed before the next payment is due on June 15. At the same time it is made clear that Mr. Roosevelt does not regard France’s failure to pay on December 15 as a default, but rather as a deferment. It is expected that the debt discussion will be kept separated from the conversations on means of improving the world economic situation, with separate delegation* handling the two

problems. It is understood that Mr. Roosevelt expects nations other than Great Britain to seek a new schedule of debt payments. , In diplomatic quarters note is taken of the fact that the statement referred to Britain alone. Britain’s meeting of her December 15 instalment caused a favourable reaction.

World Economic Conference.

It is disclosed that discussion of world economic problems individually with Britain was designed not to cut under but rather to strengthen plans for the World Economic Conference. Though both Mr. Hoover and Mr. Roosevelt are represented as feeling that the problem of debts could not be divorced entirely from the World Economic Conference, it was said that an agreement was reached that no direct debt discussions should take place at the projected world parley.

NEWS .WELCOMED

‘ “A Step Toward Sanity”

(Received Jan. 22, 6.30 p.m.)

New York, Jan. 21.

Leading newspapers of the nation for the most part welcome Mr. Roosevelt’s announcement on the debt conference. “It is a step toward sanity," is what the Baltimore “Sun” calls it. The “New "York Times” in a leader on the Hoover-Roosevelt debts communique says that it tends “to remove the impression of stalemate which has pervaded Washington since December 1, and which has baffled and discouraged European Governments in their approaches to ours.”

RECEPTION IN LONDON

Great Satisfaction Prevails

(Received Jan. 22, 6.30 p.m.). London, Jan. 21.

The greatest satisfaction prevails in London political circles at the White House announcement.

The “Chronicle” says it is expected that Treasury officials will shortly be dispatched to Washington to assist Sir Ronald Lindsay to conduct preliminary talks with the United States Cabinet, a delegation going later for a full-dress conference, probably headed by Mr. Ramsay MacDonald, otherwise by the Chancellor of the Exchequer. The “Daily Telegraph” says that the invitation will be received with mixed feelings in Britain. “It is all to the good that the war debts question should be salvaged from the backwater into which It has been allowed to drift, but Washington’s reference to the World Economic situation suggests that America means to use the war debts to negotiate a tariff bargain with Britain and presumably later with other debtors separately, which will , prejudice the application of any world formula by the World Economic Conference.”

x FRANCE’S DEFAULT

Resentment in America

) ATTACK BY SENATORS

Washington, Jan. 20.

A concentrated attack on France’s default in war debt payment was loosed in the Senate to-day, after Senator Robinson, of Indiana (Republican), had termed France a thorough ingrate, and urged the prompt passage of the Johnson Bill to bar financial dealings with nations failing to pay. Senator Fee (Republican), of Ohio, said: “France has assumed a childish attitude toward America, who helped her in time of need with money and. men.”

Senator Copeland, of New York (Democrat), said that it was amazing how much resentment was felt by tho American people over tho failure of France to meet her obligations. He told of an unnamed American holder of the Legion of Honour, an outstanding journalist of New York, who had returned his award to the French Government because of its default.