WAR DEBT COMPROMISE

Grey River Argus, 6 December 1932, Page 5

WAR DEBT COMPROMISE

HOOVER’S MOVE To Sound Britain (Aus. & N.Z. Cable Assn.) ( Received December 5 at 7.30 p nt.) NEW YORK, December 5. The New York ‘‘Herald Tribune’’ understands that President Hoover, in an anxious etl'orl t-o , eliminate any possibility of a general Europ,van debt default, Ims “ sounded out Loudon’ icgarding th • possibility of easing the payments due on December I’:, v.illioui an absoluTe suspension. The nature “f the compromise is nut known NEW FORM OF PAYMENT. M It. I:A LDWIN \S ADVICE. (British Official Wireless ) IyUGBY. December 3. Mr Baldwin, speaking at Sund'Tland, said the British Noto to America was a statement absolutely accurate in facts, and temperate in language. He add d: ‘‘There is no party ques tion in this. If is the deliberate view of every man in this country, who is cenipetint lo fuini a judgm-'iit on matters to wi'.ich the Note refers. There is no dniibt that the Americans will give the most careful, and so far us :h - Gowmineiq is concerned, sympathetic consideration to the Note, be (■au>e they stand as muck as we do, if nut more to suffer from a. continuance of this part iciilu r form of payment. What makes in'*, so glad is that, following "ii Lausann- and i.’ollowing on the Note .Jml! have rm inl erna I iot.ia I ern!'erci;c r ;i,, soon as it can b' 1 I'onvrncd in al. which I hope lli‘‘.s ( - ijuoslions will Io- studied yml prubed, with knowledge ami sympathy. I hopo the result of that conference will bo that to ;i great extent, the, whole world may ]>■? ridirv'd of this particular form of paymeiil, which i.s intolerable for the business of the v hole world, whether d'‘bt o : - or creditor. ’ ’ WORLD CUT IN TARIFFS. A DEMOCRAT’S PROPOSAL. (Aus & N.Z. Cable Assn.) WASHINGTON. December 3. I s< nator Cordell Hull, Demociatic ariff exp rt from Tennesse, sent a pro- | posal Io Mr Hoover to-day, that the.’ ( nited States should take Ihc lead- | ership in persuading world Powers to I ;ut tariffs of 10 per »ent. and nrow ( c'iwp other artificial trade obstacles.]' I'■1 '■ the nations accepted this | togram.’nc. America could reduce the d< !>■ payments. THE NEW VICE PRESIDENT. A NEWSPAPER STORY. WASHINGTON, December 3. The. prize story about tho war debt n“gotiations developed to-day, in a conversation the “Sun” representative had with Air Garner (Vice President elect). The “Sun” says: This eminent Texas statesman retailed what he had said to Air Hoover recently, adding, ‘‘l still think the same.” lI P tb.-n continued: “But you know’ I have not read the latest from Britain. 1 ha\ 11 't had time. Too busy with beer.” Air Garner in this matter Jias more power than fhe President. lie will be the boss of Congress in the. coming ‘‘lame duck” session. Next year, he will be A’ice President, and Prcsid ing Oflic ( ’r of the Senate. One of the great documents in diplomatic history had passed, and b.e would not take the trouble 10 read it: yet he was ready to jump into the front column the American press, with <1 positive declaration that Congress was not going Io change its mind about it. Congressmen repeatedly disclose that changing minds is one of the best things they do. Air Garner himself, a few months ago. was one of the most devoted be-‘

livveis in prohibition. The people changed his mind for him As a matter of fact, certain influential sena tors (old nU', privately, that the British positio n may with great propriety b e reviewed, but none of them thought the December u.iym-'ut shor/id Ijg postponed. concluded the “Sun” reprusenSILVER TENDER? WASHINGTON, December 3. Congressman Somers, Democrat Urom New York, proposes that Britain be allowed to repay the indebtedness -in silver. BRITISH OFFICIAL REVIEW. (British Official Wireless.) RUGBY’, December 3. Washington messages indicate the likelihood that Air Hoover will make the European debts question tho subject oif a. special message to Congress next week. Aleanwhile, the reports racking London show that although the British Note created a deep impression on .a largo section of American opinion, including many of those most in touch with the world cconomio situation the first reactions of several influential Congressmen show little or no departure from the attitude adopted by them during the recent electoral campaign. It is hoped whc n time has been allowed for more careful study of the tragic logic with which the British Note traces the history of the world depression, and the relation thereto of the vast unnatural trans’fers involved in the system of international indebtedness, together, with the effect upon both creditor and debtor countries, of its continuance, some recognition will be forthcoming to the real needs of the world situation. For the time being, however, messages from America give slight reasons to couple this hope with expectation.

Apart from America, the British Note has been hailed in nearly every other country as both impressive and convincing.