AMERICA'S DEBTORS

Evening Post, Volume CXV, Issue 71, 25 March 1933, Page 13

AMERICA'S DEBTORS

DISCUSSIONS BEGIN

POLICY FORESHADOWED

TRADE CONCESSIONS

United Press Association—By Electric Tele-

graph—Copyright. (Beceived March 25, 1 p.m.)

WASHINGTON, March 24.

War debt discussions with Britain were formally begun on Friday in a long conversation between Sir Eonald Lindsay, British. Ambassador, and Mr. Cordill Hull, Secretary of State. Mr. Hull said afterwards that no decisions, tentative or otherwise, had been reached and the conversations were exploratory. He added that the discussion covered the broad aspects of international commercial relations which would come up at the World Economic Conference as well as in debt conversations.

I It was recently announced at the White. House that the President had no intention of asking Congress for authority to defer payments, and he expects them to.be met when they are due.

The position i understood to have been taken by Mr. Hull on Friday was that the big problem facing the world is the removal of. excessively high tariffs and other restrictions on the movement of goods and the exchange of money. The United States will emphasise this when war debts are mentioned. The implication was that if the United States was satisfied that its debtors were willing to pledge themselves in general to the/success of the Economic Conference by reducing trade barriers, the United States would be ready to consider1 their pleas for a revision of debts.

Another factor is the possibility of negotiating reciprocal trade agreements. Mr. Hull said on Friday that if it were possible to make arrangements which would be mutually-beneficial to each country, there would be no controversy about, reaching adjustments. This was taken to mean that if satisfactory agreements can be made, as, for instance, with Britain and that nation was satisfied, this Government will make a tangible contribution to the success of. the Economic Conference. The United. States will feel that it would .be the gainer, even if it lost some of the actual incomo which it now receives in the form of debt payments.