DEBTS AND REPARATIONS

Evening Star, Issue 20986, 28 December 1931, Page 6

DEBTS AND REPARATIONS

CONFERENCE AT THE HAGUE BASLE COMMITTEE'S SUGGESTION Press Association—By Telegraph—Copyright. PARIS, December 26. Tho French and British Governments have agreed to January 18 at Tho Hague for a debts and reparations conference as suggested by tho Basle advisory exports. It was announced tonight that official notice of this suggestion had been despatched to the other interested Powers.

Tho unanimous opinion of the French Press is that tho success of tho conference depends on the United States, which gives no indication of its intention(s rogardng offical participation.' Meanwhile preparatory talks between tho British and French Treasuries will be resumed with the arrival here tomorrow of Sir Frederick Leith-Ross.

AMERICA'S ATTITUDE

WILL TAKE NO PART

NEW YORK, December 26,

The New York ‘ Herald-Tribune’s ’ Washington correspondent states that the American Government has come to the decision to take no part in the forthcoming European economic conference on reparations. The refusal of the .United States will turn the conference into a joint discussion on debts and reparations, and definitely lay at rest rumours arising from the Basle report. Mr Leary, who is the highest authority in the State Department, will, if the occasion arises, announce that the question of reparations is purely a European problem, and only after Europe has settled it will the United States undertake to consider the effect of diminished reparation payments upon the debt question. THE HOOVER MORATORIUM SIR ARTHUR SALTER’S COMMENT LONDON, December 27. (Received December 28, at 9 a.m.) “The declaration by Congress that the ratification of the Hoover moratorium cannot be accompanied by the cancellation or reduction of war debts due to America, is only comparable with Canute’s command to the tide,” says Sir Arthur Salter, commenting in the ‘Observer’ on the Basle report. He added: “The connection between reparations and war debts existing at present and the moratorium cannot be broken. Whether the creditors agree or the debtors default is for the creditors to decide, but those no longer receiving reparations cannot continue undlminished war debt payments. The war debtors perhaps should not regret Congress opposition to a debt funding commission, which, unless endowed with greater wisdom than the European creditors have shown in dealing with reparations, would probably produce a, verdict involving an intolerable strain on European debtors; while now, if Europeans cannot meet their debt payments owing to lack of reparations, they will bo ranged with the most responsible people in America, including the President and the chief Ministers. Indeed, Congress has done its best to exempt default from dishonour.” '' The ‘ Observer 5 expresses the opinion that the international conference arising out of the Basle report will begin at The Hague on January 18. • [Sir James Arthur Salter was director of the economic and finance section of the League of Nations and general secretary of the Reparations Commission from 1920 to 1922.] MUSSOLINI'S VIEWS ROME, December 37. (Received December 28, at 9 a.m.) Signor Mussolini’s view is that the world crisis cannot be remedied unless reparations are revised and every country relieved of the unbearable burden of war debts.