WAR DEBTS

Evening Star, Issue 21319, 25 January 1933, Page 7

WAR DEBTS

QUESTION OF REVISION THE CASE FOR ITALY Press Association —By Telegraph—Copyright. WASHINGTON, January 23. While Mr Roosevelt was at Warm' Springs he prepared to study economic problems, both domestic and foreign. It became apparent here to-day that the incoming administration will be confronted with debt negotiations with virtually all the debtor Governments. The first reaction to the Hoover-Roose-velt communique, came from Italy, whose Ambassador, Signor Rossi, visited Mr Stimson to inquire informally concerning the prospects of debt revision after March 4 and to ask for an interpretation of the communique. Observers expressed the opinion that Italy was probably placing herself in the same category as Britain by virtue of having met her December instalment. She will undoubtedly seek to have her case reviewed soon after the British negotiations are started. Meanwhile the Belgian Ambassador has visited the Under-Secretary (Mr Castle), and Sir Ronald Lindsay has conferred with the Assistant Secretary for State (Mr Bundy). Nothing has been disclosed concerning the calls. It is authoritatively learned that Mr Stimson will confer, “ when advisable,” with Professors Moley and Tugwell, Mr Roosevelt’s advisers, presumably concerning the phase mentioned in the communique. SEPARATE CONFERENCES WITH DEBTOR NATIONS NEW YORE, January 24. (Received January 25, at noon.) A message" from Warm Springs (Georgia) states that Mr Roosevelt has given authority to Mr Stimson to arrange for separate conferences with the European debtor nations who have met their obligations and who are now requesting an opportunity to talk over relief. Standing by his policy that all debtors should always have access to their creditors, Mr Roosevelt is nevertheless going to have no general conference on war debts. He will take each nation separately and dea} with it personally. Undoubtedly, as in the case of Britain, Mr Roosevelt is going to link the forthcoming Economic Conference with debts. In other words, it seems obvious that he will do some bargaining with the debtors. If they want relief he wants assurances of general co-opera-tion on the programme aimed at—world stabilisation—which he hopes to get from the economic parley. CANCELLATION BEST THING FOR WORLD LONDON, January 24. (Received January 25, at 1 p.m.) Mr Neville Chamberlain (Chancellor of the Exchequer), addressing the Leeds Chamber of Commerce regarding the American war debts message, reiterated that cancellation was the best thing for the world, but if this view outstripped current American opinion a conference was welcome whenever America was ready, so long as the settlement was final and did not involve a renewal of the claim for reparations from Germany, because disturbance of the Lausanne Agreement would reopen old wounds.