WORLD PROBLEMS THEME OF DISCUSSION

Evening Post, Volume CXII, Issue 102, 27 October 1931, Page 9

WORLD PROBLEMS

THEME OF DISCUSSION

HOOVER AND LAVAL JOINT STATEMENT ISSUED ESSENTIAL FACTORS

United Press Association—By Electric I'eltr graph—Copyrlgb t. WASHINGTON, 251h October The groundwork for sweeping reductions in German reparations and Allied War-debt payments to tbe United States was laid during con' ferences concluded on Sunday by President Hoover and M. Laval, Premier of France. Germany is expected shortly to take the initiative by asking £ot relief from her enormous reparations burden. France is expected to cooperate in re-examining Germany's ability to pay, and radical reductions are considered inevitable. The United States is ready to do its share as a contribution to world stability. The reopening of debt questions is expected to follow immediately on any change in reparations. Tlie two leaders, ia a joint statement issued on Sunday, declared that the essential factor in the restoration of the normal economic life of tho world rests on the gold standard in Prance and the United States. The statement disclosed that th» national leaders canvassed the whol» field of international affairs, and hopa was expressed for the success of tha> conference that will discuss tho limita* tion of armaments at Geneva in February. "So far as inter-Governmental debti are concerned," proceeds the statement, "we recognise that, prior to thd expiration of the Hoover year of postponement, some agreement regarding them may bo necessary, covering the period of business depression. As to the terms and conditions of this agree* ment, the two Governments make all reservations." EXTENDING DEBT HOLIDAY, Tho initiative for an extension, of th«i debt holiday is left to the European Powers principally concerned. The statement says that the traditional friendship between the United States and France and the absence ofl all controversy between them Tender it possible and opportune for their representatives to explore every aspect ofi the many problems in which they are mutually interested. "Indeed it is the duty of statesmen! not to overlook any means of practi< cal co-operation for tho common good,5* the statement continues. "This is particularly true at a time when the worldj looks for leadership in relief from thai depression which reaches into countless homes in every land. "The relations of mutual confidence between the two Governments has h} most important bearing- upon the speeding of the recovery we seek. "We havc< engaged upon that mission with, entiroj frankness, and we have made real pro* gress. CANVASSING SITUATION. "Wo have canvassed the economic situation and the world trends in inter* national relations bearing upon itjj problems fronting the forthcoming.eon« ferenc© on the limitation and reduction of armaments; the effect of the de« pression on payments under inter-gov* crnmental debts; the stabilisation oi? international exchanges; also financial and economic subjects. "Special emphasis has been, laid upon," the more important means througbt which <»he. efforts 'of our Governments can be exerted toward a restoration ofl economic stability and confidence. "Particularly are we convinced. oJJ the importance of monetary stability as; an essential factor in the restoration; of normal economic life in the worldj and in this the maintenance of the gold! standard in France and the United States will serve as a major influence. "It is our intent to continue to etutivj methods for the maintenance of stabili ity in international exchanges." In a separate statement President! Hoove* denies that he proposed any to* vision of the Polish "corridor." The Polish "corridor" is a strip ol| territory given to Poland by the^reatyj of Versailles in order to secure for} Poland access to the Baltic Sea, other* wise not available, because of the ex« istence, north of Poland, of the inde» pendent republic of Th«! "corridor" cuts off from the regt oS Germany, a small portion of East Prus« sia, of which the chief town is K»nigs« berg.