DOUBTS GROWING

Grey River Argus, 12 June 1933, Page 5

DOUBTS GROWING

Regarding Success (Aus. & N.Z, Cable Assn.) (Received June 11 at 9 p.m.) LONDON, June 11. Official circles hesitate to predict that anything will eventuate in the shape of a treaty for economic peace, 5

and express the opinion that the sub ject is too complicated to submit to documentary definition. The subjects can be. broadly group od as follows:— ' Firstly: The monetary and creditpolicy; Secondly:—The increase of commodity prices; Thirdly the resumption of .movement of capital; Fourthly:—The removal of restrictions to international trade; Fifthly:—Organisation and production of trade. Thp British policy will bp stated by Mr Neville Chamberlain, though their is nothing to prevent Mr McDonald leaving the chair and speaking on be* half of Britain if necessary. Tn the interests of truth it must be confessed that the general attitude to wards the Conference is mainly one of scepticism. Thp ordinary mind is unable to visualise the useful results from the talk of representatives of sixty six; nations with conflicting inter The Government has also been re proached for not producing a “cut and dried” policy for submission to the Conference, the impression held being that decisions, jf any, will not bp reached by sixty six: nations but, by the odd six. and possibility these will reach more important conclus ions outside the Conference, an in stance of which is a small item pub* dished in only one or two newspapers of the records of Air Norman at the Bank of England, and a conference with Air Hull and other American delegates, and French and British representatives on the subject of cur rency stabilisation. A small meeting like this well may bp fraught with greater results than a week’s sitting of the Conference, though it might not h:> e occurred had not the Confer enee been suminloncd. CURTAILING THE SPEECHES. (British Official Wireless). RUGBY, June 9. The work of preparing the new Geological Museum to accommodate the Conference was completed to-day.

Among the equipment is the installation of the 22 amplifiers. Practically all the delegations have now reached London. Probably some arrangements will be made to ensure brevity of speeches. The King, in opening, is expected to set the example, speaking less than ten minutes, while Air. AlacDonald, the first speaker after the King, will confine his address to a quarter of an hour. It is hoped that the delegates will produce their proposals in their opening speeches, making them as precise and definite as possible. Air. AlacDonald. to-day lunched with Air. Cordell Hull.

War Debts (British Oflicia’ Wireless). RUGBY, June 9. Cabinet, to-day, discussod war debts* It is understood that the matter will remain under consideration until early next week, when decisions will be taken. STATEMENT EXPECTED. IN HOUSE OF COMMONS. (British Official Wireless). (Received June 11. at 9 p.m.) RUGBY, Juno 10. i It is understood that the American war debt question, which was considered at a Cabinet meeting yesterday afternoon, is still the subject of communications with Washington. It is presumed that those will be continued over the week-end, and it is anticipated that a further meeting of Cabinet will be held on Alonday or Tuesday morning. A statement in regard to the payment of the next instalment debt will be made in the House of Commons on Tuesday. CHANCE OF MORATORIUM. (Received June 11 at, 8.10 p.m.) LONDON, June 10. Cabinet agreed to send a communication to President Roosevelt, through Air Lindsay, stating its views on the war debt, which were cabled to America last night. It is believed that a conditional proposal was made which may involve a nominal or a token payment pending a settlement of the whole problem. There is good reason to believe that Air AlacDonald’s recent visit to Wash ington wa s attended with a strong prospect that Air Roosevelt would recommend a moratorium of the June payment, hut it is obvious that Air Roosevelt’s course of action has since been seriously affected by minor revolts of Congress. Thp “Mail” understands that Cabinet has decided to offer America a token payment of two million pounds, i covering the June and December payments. It is hoped to elicit a prompt indication of Air Roosevelt’s intentions. MR. ROOSEVELT’S STATEMENT. NEW YORK, Juno 9. The “New York Times’s’’ correspondent says it is incidentally reported that the President will make a declaration of the American policy, to bo published on the London Conference opening on Alonday, provided Congress, which is due to adjourn on June 10, does so. Partial Payments Probable FRANCE MAY DEFAULT. (Aus. & N.Z. Cable Assn.) (Received June 11 at 6.30 p.m.) WASHINGTON, June 11. Despite the determined pressure from White House, that Congress finish up its legislative programme, and i adjourn according to schedule to-night, in line with ATr Roosevelt’s known desire to- deal with the war debt crisis and the World Economic Conference, without so-called legislative interfer-

enc.es, strong opposition from members who are opposing certain features of the National Industrial Recovery Bill, and the Limitaions of AVar Veterans Expenditures Bill, prevented the passage of these wo important measures in the President’s programme, and carried a special session of the legislature into next week.

AVhile White House intimated tonight that no formal written proposal had been received from any foreign Government in regard to the war debt instalment, and that until such was eceived, the President could take no action and indicate no opinion, it was reported to-night that a partial payment from Britain and Italy appeared likely. The conjectural accounts of Mr Lindsay’s visit to President Roosevelt on Thursday have it that the suggestion of a part payment not exceeding eight million dollars was advanced. The Ambassador continued to confer with the State Department to-day, as also did the Italian Ambassador, Signor Russo, who indicated that while the final decision still had to bo reached, a part payment was probable, and that Alussolini is expected to discuss the war debts in an address n Foreign Affairs to-night. Reports from Paris indicate that 'rance would again default.

Geneva Resolutions

BETTER CONDITIONS FOR WORKERS. GENEVA, June 9. The Labour Conference at Geneva, through the French delegate, Al. Jouhaux, is presenting a resolution to the I Economic, Conference, recommending the restoration of monetary conditions internationally, preventing fluctuation in prices, the elimination of exchange restrictions, and other trade impediments for the purpose of increasing the purchasing power of the community, a living standard for workers, and a re-circulation of idle capital through a public works policy. The German delegate protested at the Labour Conference’s refusal to nominate Germans and Italians on Commissions.