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COMMENT IN LONDON

NO EXTRAVAGANT HOPES

CO-OPERATION NEEDED

(British Official Wireless.) (Received .Sth July, 11 a.m.)

RUGBY,7 th July

The news arrived in London too late for considered comment in. the morning papers. In both political and financial comments they emphasised that debt suspension alone will, not solve the world's economic problems. It only provides an opportunity for working out a solution-in hopeful atmosphere.

"The Times," in a leading article, says that any vision of general improvement which. the % agreement, encourages will be mirage and no more, if tho respite is not used for co-operative action of the kind in which the United States and France have at last agreed to share. The monetary authorities of the various countries with the help of their Governments, has before them an opportunity and a duty not simply to refrain from working against each other, but of collaborating to the common end—the restitution of the system by which they exist and of the world hi which they live.

The announcement by the Prime Minister this afternoon that the British Government has invited interested Governments to meet in London regarding some of the issues raised-by the French observations appended to last night's Paris agreement and of the difficulties likely to be encountered in further negotiations, which, it is realised will probably'take some time, will be welcomed.. While i the problems are of a nature requiring elucidation by experts, the feeling is that owing to the importance of the decisions to bo reached the Ministers will have to take part at some stage. . Most of the Press comment records the marked improvement in the outlook hero and on the Continent. The "Morning Post," commenting J on the statement issued by President Hoover last night on the successful end to the Paris conversations, noted his reference to the need to devote tho year, of the debt holiday to "solemn thoughti on the causes which contributed to the depression," and "to the burdens imposed and fears aroused )jy competitive armaments." The "Morning Post" stresses Hie importance of these words in connection with, the visit to Europe of the American Secretary of State, Mr. 11. L. Stimson. A Washington Press ' message to-night contains a report that the United States Government, following- up the success of the war debt holiday proposal, intends to make an equally vigorous movement for the limitation of world armaments.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/EP19310708.2.55.8

Bibliographic details

Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 10

Word Count
395

COMMENT IN LONDON Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 10

COMMENT IN LONDON Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 10