WAR DEBTS

Gisborne Times, Volume LXXIII, Issue 11841, 24 January 1933, Page 5

WAR DEBTS

NO FURTHER DEVELOPMENTS

LUMP SUM ON SHORT-TERM ■AGREEMENT

BORAH. WANTS DISARMAMENT ” INCLUDED

(U.P.A. by Elec. To]. Copyright) (Received Jan. (23, 5.5 : p.m.) WASHINGTON, Jan. 22.

There aro no further developments in connection with the debts situation. Following the Hoovcr-Roosevelt conference semi-official speculation is now centred on what proposition Mr Roosevelt is likely to- advance, and rtvhat the Congressional reaction thereto would be.

The principle of a, lump sum payment, or some sort of short term agreement wiping out the existing sixtytwo year agreement, is generally favored in financial and! diplomatic circles. There is a desire that Britain should return to the gold standard, and otherwise stabilise currency, while Senator Borah indicated that ho would insist on disarmament before agreeing to support a settlement Meanwhile, domestic affairs before Congress are attracting much attention, although the long filibuster against the Glass Banking Bill has been broken by a compromise, the elimination of the branch hanking clause. The debate is still continuing, and is holding up other legislation. To-day Senator Borah flatly insisted that the Budget could not ho balanced without “reflation” indicating a protracted fight between tbe eastern and western sections over inflation. Many Westerners are favoring the remonetisation or silver and other means fn raise commodity prices, while Easterners generally are defending ihe gold standard.