DEBATE LAPSES

Evening Post, Volume CXV, Issue 138, 14 June 1933, Page 11

DEBATE LAPSES

NO SPEAKERS READY WAR DEBT DISTRACTION

(Keeoivod June 14/1 p.m.) LONDON, June 13. Although tho afternoon session of the Economic Conference was timed to end at 6 o'clock it lapsed an hour earlier. No speakers were available. A contributory reason was tho day-long distraction as to tho fate of the AngloAmerican debt negotiations, which inevitably precipitated themselves into tho atmosphere of the • Conference from which tho leader of the American delegation (Mr. Hull) was absent. Many delegates' preferred to go to the House of Commons to hear Mr. Chamberlain's statement. It was hot surprising when Mr. Mac Donald announced that nobody was ready to continue the debate. It is an open secret that Mr. Hull is redrafting his speech in the light of the war debts negotiations, and also the outspoken references to war debts in most of tho speeches. It is fairly certain that specific subjects would be referred to commissions on Friday, when the real work of tho Conference will begin. General Smuts's suggestion to leave economies wholly to experts is not finding favour. The politicians assert that they have always in the long run to cut tho Gordian knot and save the experts debating interminably. Viscount Ishii loft no doubt that lower tariffs arc an essential condition of Japan's willing co-operation, a sentiment which has disturbed other manufacturing countries. Viscount Ishii advocated immediate temporary measures in connection with currency, credit, trade barriers, and prico levels. Japan was ready to consider the obviation of exchange fluctuations pending a final return to, gold. Ho advocated the unrestricted application of the most-favoured nation clause. Baron yon Neurath urged a clear understanding of Germany's situation as the prelude to the selection of proper remedies. International debts could 6nly be paid in goods and services, after credit and financial problems had been satisfactorily settled through, peaceful co-operation. Herr Hitler's declaration had paved the way to a return of confidence. Germany's acceptance ,of Mr. Mac Donald's plan as a basis for a convention gava disarmament a new impulse. Tho spirit which prompted these actions would characterise Germany's approach to the world's financial and economic problems. Tho debate was thcu adjourned.