“PAY DR DEFAULT”

Gisborne Times, Volume LXXIII, Issue 11951, 23 May 1933, Page 5

“PAY DR DEFAULT”

WIDELY-EXPRESSED AMERICAN L VIEW ON WAR DEBTS

CONGRESS AGAINST REVISION

OR CANCELLATION

ROOSEVELT STILJ; HOPES FOR,

READJUSTMENT

BRITAIN’S CASE OUTSTANDING

(Press Association) (Received May 22, 8.55 p.m.) WASHINGTON, May 22. With Congress tentatively scheduled to adjourn early in June There is much speculation regarding any definite war debits policy 'that the President may take before the convening of the London Conference. Earlier reports that Mr Roosevelt was prepared to send a message to Congress requesting power to pegotiate ian agreement during the recess, are widely denied in Congressional circles arid it appears obvious to observers that despite some change of opinion, the majority 'of Congress are still opposed to the cancellation or extensive revision. However, a message asking power to negotiate tariff treaties will probably be presentedl soon, with no serious opposition expected. Although in anticipation of possible wholesale defaults c n the pay-

ments on .Tune 15, the attitude of “pay or default” is widely impressed, informed observers understand tliat Mr Roosevelt Is still hopeful that his original policy of accepting proposals for readjustment from individual nations and transmitting them to Congress for approval or rejection, may prove successful, at least, in the case of Britain. It is felt that this nation’s debt was funded under exceedingly hard terms and a specific request ior readjustment might' be accepted by Congress.