WAR DEBT DEFAULTS

Greymouth Evening Star, 14 May 1934, Page 7

WAR DEBT DEFAULTS

MR. ROOSEVELT’S POLICY CONFERENCE OPPOSED

[BY CABLE—PRESS ABBN.—COPYBIGHT.] WASHINGTON, May 12. President Roosevelt made it clear that he is opposed to America’s participation in any general conference to consider a settlement of the world’s debts. At White House it was authoritatively explained that, while the United States was perfectly willing to enter any discussions concerning the revision or tho readjustment of the existing debt funding agreement with any single nation, the United States would not join in any general discussions.

President Roosevelt has left the door open for any suggestions from the individual debtor nations, and there is still, in high official circles, an expectation that some hitherto undisclosed move will be made, either abroad or in Washington, to break the apparent war debts deadlock. The President still feels that the United States has laid down no- - rigid allembracing policy. President Roosevelt, replying to the questions of the Press correspondents at the regular press conference to-day, declared that he would not approve of any general conference on war debts, although intimations from London were current that Britain and other debtor nations would welcome international discussion to clarify the situation. The President declared that his debt policy was unchanged. He added that he would send a debt message to Congress within ten days, and, pending this, he had no statement to make concerning the situation which impends in June, when 174,000,000 dollars will become due.

BRITAIN’S OFFER. LONDON, May 13. The “Sunday Chronicle” understands that Cabinet decided to offer America £1,500,000 as a token payment despite Mr Roosevelt’s intimation to Sir R. Lindsay that this will constitute default. I .. . •