PEACE PACT

Greymouth Evening Star, 16 January 1928, Page 5

PEACE PACT

FRLNCH PRESS COMMENTS. (Australian and N.Z. Cable Association.) PARIS, January 14. Commenting on Mr Kellogg’s note, Le Temps is optimistic, but Le Journal Des Debats deprecates the tendency to hustle, while Le Liberte considers the negotiations have degenerated into hair splitting. M. Brian promptly cabled Mr Kellogg explaining that it was desired to 'substitute the term “wars of aggression” for the words “all wars” because the proposed treaty of outlawry instead of being a bilateral as originally intended became multilateral. REPLY POSTPONED. LONDON, January 13. The Morning Post’s Paris correspondent says: It was decided at the eleventh hour to withhold the French reply for the present, as Mr Kellogg is going to Cuba. FINANCIAL CONCESSION. NEW YORK, January 14. The “New York Times’s” Washington correspondent says that blanket prohibition against the flotation of French securities in this country, which has been in force for over three years as the result of failure of France to, fund the war debt to the United States, has been lifted by the State Department, in so far as it concerns French industrial loans. It is understood that the action was taken independently by the United States as an earnest indication of America’s friendship to France. It is hoped that the French Parliament will ratify the Mellpn-Rerenger d.ebt agreement , after the French general election.

. AMERICAN NAVY. WASHINGTON, January 14.. The House Naval Affairs Committee overwhelmingly defeated the recommendation of Mr. Wilbur, that no definite date be set for the completion of the Administration’s 740 millions dollars new construction programme, and that, the President be empowered to suspend the proposed construction either in part or whole, at any time he might deem advisable. Republican inembers of the Committee interpreted the action as a positive expression in favour of “actual iron and steel” ships, instead of a possible “paper fleet.” Representative Britten predicts, that, the five year programme will entail appropriations of 740 million dollars, and only one change will be made in Mr. Wilbur’s suggestions, namely, submarines will be increased from thirtytwo to thirty-five, the other items remaining the same, namely twenty-five cruisers, five aircraft and carriers, and nine destroyer leaders.