DEBT DISCUSSIONS

Grey River Argus, 17 February 1933, Page 5

DEBT DISCUSSIONS

EUROPEAN DEADLOCK — British Armaments Objective (British Official Wireless.) RUGBY, February 15. International affairs were surveyed by Sir John Simon (British Foreign Secretary), in a speech at Southampton. Referring to disarmament, he said be regretted the Geneva Conference was unable to make more rapid progress in its most difficult but most essential and urgent task. He proceeded: “ The British policy aims not only at giving a lead for the international adoption of practical methods of disarmament, but seeks by every means in its power to establish a sense of confidence and mutual understanding between the nations, upon which an effective measure of agreed international disarmament must rest. This is tbe real relation between our work at Lausanne and our work at Geneva Ever since the peace treaties, tbe question of reparations has been a menace to European stability, and even to European peace. The achieve input of Lausanne consists in this, that an agreement was reached between Germany and her European creditors, which showed how they might arrive at a final settlement of all claims and disputes about reparations, and which at once brought about a marked improvement in the prospects for more peaceful co-operation. It is most important that we should not now disturb that prospect. The Lausanne agreement still awaits final ratification, and we simply cannot afford to do anything which would render its ratification impossible. If the reparations question were to be reopened, confidence throughout the world would be further undermined, and the fall in prices and the economic distress of the world would be accentuated. American Attitude A QUID PRO QUO. I “ MACDONALD’S PROJECTED VISIT. LONDON, February 15. “The Times’s’* Washington correspondent says: Mr Roosevelt is anxious for the earliest personal discussion with Mr MacDonald, believing the only tray to escape the world’s economic troubles is the frankest and fullest Anglo-American co-operation. Mr Roosevelt believes this is more surely and more easily achievable with Mr MacDonald than anyone. The truth is that only a thin veil of popular complacency exists between America and disaster. Mr MacDonald must judge the gravity of the American crisis on the spot. Mr Roosevelt can only meet the crisis if an AngloAmerican deadlock is averted. He can only help Britain if Britain helps him. NEW YORK, February 14. The “New York Times’s’’ Washington correspondent says: “Persistent, rumours that Mr MacDonald plans to come to America in connection with tho discussions, possibly in advance of other delegates, were strengthened today when it was authoritatively learned that Mr Hoover approves, and will do his utmost to facilitate arrangements to provide a reception in the e ent of his arriving before March 4. It is felt that Mr Roosevelt would like to have a long conference with Mr MacDonald before the actual opening of negotiations, to arrange procedure and discuss other matters. It is understood that the British feel that although the Republicans are not in power, they will form an influential minority in Congress. Therefore, Mr Hoover’s approval is desired before Mr MacDonald embarks for America. That approval was forwarded to London to-day. Meanwhile, officials have expressed much interest in Mr Hoover’s proposal to stabilise the foreign currencies with the debt payments. It is pointed out that there are two methods by which this might be effected—the handling of the credits of those countries Settlements, or the extension of credits through the Bank of International by the Federal Reserve system. Whether Congress would agree to either is considered problematical. GENEVA ARMAMENT DEBATE. RUGBY, February 14. Tho political commission of the Disarmament Conference decided at Geneva to take as a basis of discussion for all questions of security, the British programme of work introduce! by Captain Eden. It also decided that the first item of the agenda should be a draft of tho declaration submitted by the United Kingdom delegation for signature by European governments, under the terms of which they are determined to fulfil not only in the letter but also in the spirit, the obligations which they accepted under the Pact of Paris, signed on August 27, 1928. They herein solemnly undertake that they will not in anv case resort to force for the purpose of resolving any present or fut.urn differences between them.