WAR DEBTS

Evening Star, Issue 21318, 24 January 1933, Page 7

WAR DEBTS

AMERICA'S INTENTIONS

NO FURTHER DEVELOPMENTS

Press Association—By Telegraph—Copyright

WASHINGTON, January 22.

There are no further developments in connection with tho debts situation, following the Hoover-Rooscvelt conference. Semi-official speculation is now centred on what proposition Mr Roosevelt is likely to advance and what the congressional reaction thereto would be. The principle of a lump sum payment or some sort of short-term agreement, wiping out the existing sixty-two year agreement, is generally favoured in financial and diplomatic circles. There is a great desire that Britain should return to the gold standai’d, or otherwise stabilise her currency, while Senator Borah indicated that he would insist on disarmament before agreeing to support a settlement. Meanwhile domestic affairs before the Congress are attracting much attention, although the long filibuster against the Glass Banking Bill has been broken by a compromise to eliminate the branch banking clause. Tho debate is still being continued, holding up other legislation.

There are indications that there will be a protracted fight between the eastern and western sections over inflation.

Many westerners are favouring tho remonetisation of silver and other means to raise commodity prices, while easterners generally are defending tho gold standard.

BRITAIN AND GOLD STANDARD

NEWSPAPER COMMENT,

LONDON, January 23,

(Received January 24, at 9 a.m.)

The ‘ Daily Herald ’ says that Britain must not accept the invitation with the condition to pledge herself to return to the gold standard at the end of two years, which is too great a sacrifice. The whole history of the gold standard is one of booms and slumps. To-day forty-five nations have freed themselves from gold. Their trade returns show an enormous advantage over those who remained on gold. The ' Daily Mail ’ says there must be no question of Britain going back to gold on the old basis.

HR ROOSEVELT'S DESIRES

WASHINGTON, January 23

(Received January 24, at noon.)

In the debt negotiations with Britain scheduled for March Mr Roosevelt has made it clear to the present United States Administration that he prefers to have the discussions take an individual rather than a commission form. It was disclosed in authoritative sources that the President-elect has indicated that he desired to negotiate directly with the British chief delegate or delegates, thereby assuming direct responsibility for any recommendation to Congress.

Simultaneously administration quarters denied the reports that in the White House discussions Mr Hoover and ]\lr Roosevelt had come to such a point of difference that the conference threatened to collapse.

BRITAIN RECEIVES INVITATION

(British Official Wireless.)

RUGBY, January 23

(Received January 24, at noon.)

A statement issued from No. 10 Downing street to-day was as follows: “Mr Stimson informed Sir Ronald Lindsay on January 20 that Mr Roosevelt would be glad to receive representatives of the British Government at Washington early in March in order to discuss the British debts to the United States. Mr Roosevelt wished it understood that this discussion must be concurrent with and conditional on a discussion of world economic problems, and, therefore, the representatives should also be sent to discuss methods of improving the world situation.”

The United States proposal is at present under consideration by the departments concerned.

damage to the south coast railway is so severe that it will be four days before the through service can be restored.

A man named Headway, one of a group standing in the yard of a house at Young, was killed, and the rest were knocked unconssious by lightning this morning.

Very heavy rain continues in the Y’oung district.

RAIN CONTINUES

HOUSE SET ON FIRE BY LIGHTNING.

SYDNEY, January 24. (Received January 24, at 11 a.ra.) The rain continued throughout the night. Lightning set fire to a house in the East Hills early this morning.

WELCOME RAINS IN QUEENSLAND

BRISBANE, January 24. (Received 21, at 11 a.m.) Good rains over a wide area of Queensland relieved conditions, which amounted almost to drought. The Condamino River is sft over the railway bridge at k Yandalla* and ig still rising*