DEBTS AND REPARATIONS

Evening Star, Issue 21006, 21 January 1932, Page 9

DEBTS AND REPARATIONS

AMERICA'S ATTITUDE "SILENT THOUGH INFLUENTIAL" Press Association—By Telegraph—Copyright. r WASHINGTON, January 19. With the announcement of the substitution of Mr Stimson for General Dawes as leader of the American delegation to Geneva on the eve of the delegation’s departure, a semi-official outline of America’s attitude on reparations, especially as they are related to disarmament, was given to the Press. America’s reply to European overtures seeking advice on war debts will be that Europe must work out her own plan. America’s part at Geneva will bo “silent though influential,” since she believes the questions there are primarily European questions. The United States will take no part at Lausanne, but will carefully consider any concrete plan proposed for further postponing war debt payments or other concrete arrangements to meet tho present emergency.

It was intimated that the Ambassador in Paris (Mr Edge) had informed M. Laval, in reply to “feelers,” that the United States would consider each nation’s debt on its merits. America does not believe that the debt problem is immediately pressing, because no payment is due until December 15. AMERICAN PRESS COMMENT ' i NEW YORK, January 19. A summary of American newspaper opinion of the present state of the'reparations and war debts situation seems to be expressed by a leader in the Springfield (Massachusetts) ‘ Daily News,’ which says: “It is increasingly apparent' that Germany intends to repudiate her debts. This situation augurs ill for American taxpayers, who have no alternative but to grin and bear it.” < * The New York ‘ World Telegram ’ says; “Politics, the curse of tho issue from the beginning, are now making a bad matter worse. Tho delegates to the Lausanne Conference will probably patch up a temporary compromise agreement, and then run away from the problem until it catches up with them again in worse form, and America will not be represented. America should enter the conference with a definite programme, recognising that reparations and debts will never be paid.” The New York ‘ Post ’ says: “ Whatever is done at Lausanne must he done quickly. The combination of a long conference and political' unrest attendant bn the approaching elections in tho United States, France, and Germany would be highly dangerous.” The New York ‘Times’ says: “The high variability' of Germany’s capacity to pay partly explains the French reluctance to adjourn sine die. To-day they argue that Germany cannot pay, but there is no telling about two years from now.”

The Hartford (Connecticut) ‘Times’ stated: “Congress is likely ip be lenient with debtors who expect to pay and is likely to show no such disposition towarcj debtors who proclaim the hope that they will eventually avoid payment. A further moratorium, granted on the condition that it will not hinge upon the payment of German reparations, should cause debtors to cease talking of cancellation as a moral right.” The Boston ‘ Traveller ’ says: “ The news telling of the importance of Herr Hitler seems to be overdrawn, and wo suspect that Berlin parades him to worry creditors into concessions which are hardly due to the loser in a selfstarted war tint nearly wrecked civilisation.”

THE LAUSANNE CONFERENCE LONDON, January 20., (Received. January 21, at 9.5 a.m.) It~is authoritatively stated that it is impossible for the Reparations Conference to begin on January 25, owing to the necessity for M. Laval to await a vote of confidence on Thursday, before deciding who will participate. TO OPEN ON MONDAY (British Official Wireless.) RUGBY, January 20. (Received January 21, at 11.30 a.m.) General Dawes, the United States Ambassador in London, who has accepted the presidency of the new Reconstruction Finance Corporation, will not head the American delegation to the Disarmament Conference, which will be temporarily led by Mr Hugh Gibson, United States Ambassador, until Mr Stimson proceeds to Geneva for this purpose in a few weeks’ time. An authoritative stateir t regarding the Lausanne Reparations Conference, fixed to bo open on Monday, is still awaited. Meanwhile exchanges continue between the various Governments concerned regarding the procedure to be adopted.