"NOT FINAL WORD"

Evening Post, Volume CXIV, Issue 16, 19 July 1932, Page 8

"NOT FINAL WORD"

DEBT CANCELLATION

ATTITUDE OF U.S. CONGRESS

"Congress has1 already-■■; declared against any cancellation, but that cannot be'regarded as-finali"; B;aidrJudge S. W. Moore, a New York'jegaT piracy titioner, when questibned on the Mariposa at, Auckland -yesferday on Jh'e^subj'ect of war debts by a "Star" representative. '-'■

"There is quite a lot^of.feeling and difference of opijiion.iu respect to war debts," "he said. ','; "I. think, however, that the general opinion is that reparations and war debts should be dismissed

from consideration forvthe time being: In other words, theie should be.a mora-' torinm for five or ten years-in order to. allow the world' to-recover fr Om itg present sickness. ;;- Ynien. .commerce is on its feetagainit iwill''b"e ltime e'nopgli to consider th? best BOlutioix. -think niany1/people will subscribe-to /a formula to.be! applied like ;thisiJßaci^buntry should .mafce^asacrifice.-'';-?,Germany, for;' instancej'Mould pay, some :bf: her debts,1 and the' 1 "United States should forgive* some of her debts, ."■•.Each ccmntry should make a sacrifice- in propoftjion to its interests..';'':.'lf *thiat■ principle is follbwed settlement should' be' easy."'Th'ei trouble to-day;'is that;^there is no crystallisation ; of ; views pn. thb:- pr oblem." ->;.f'v tf; TARIFF yfAx£a^ i'■■-■■::/-■'■

Referring to fiscal policy Judge Moore said that although he was a Republican ho was opposed to high tariff walls. Tariffs for revenue purposes only was a Democratic party - doctrine. The nations were ' only able to pay their debts through trade, and if high tariff walls were erected trade could not be maintained, for the inability to pay became permanent. The Democratic Presidential candidate, if elected, would tear down tariff barriers. ;■: There had not been a Democratic nominee elected since Woodrow Wilson, but there were certainly indications this year of a change.

- The depression,had'reached rock botr torn in the States, he thought, and there was some slight indication that business was on tho turn for the better. That was not apparent in the larger industrial enterprises but in the smaller businesses. It seemed that the improvement was to come from the bottom. "We think liquidation has ended," he said. By that.he meant that the sale of securities had "about ended; People who had .borrowed money from the banks had sold their securities' 'as they went down the financial Mil and the market was lower to-day' than it had been in his recollection. OTTAWA CONFERENCE. '" , t "Very little interest has been shown in America concerning 'the Ottawa Conference," said Judge Moore. "England and Canada handled their-own affairs, and we do not get excited about them and they do not get excited about us. But- if one. country puts up a tariff against another .then all concerned set excited." •

, Judge Moore is on his way to Sydney with his wife and son on a holiday J' Ye'arr-ago I. was.ai Judge,", he said" in reply to. a question, '" and .in' 'the United States if you ;have 'ever, been/a Judge they, keep; on calling you Judge for the rest of.ybnr life-—unless,"-he added .with a; smile,"yoti : 'come from Kentucky—then you will be referred to as coion'el."' '■ ' ■-