WAR DEBTS TO AMERICA

Hawera Star, Volume LII, 21 November 1932, Page 5

WAR DEBTS TO AMERICA

MORATORIUM EXTENSION OPPOSITION OF MR. HOOVER MORE RIGID ATTITUDE URGED DEMOCRATS AND R.EJPUBLT OA NS (United Press Association —Bv Electric Telegraph Copy righto WASHINGTON, Nov. 19. Political forecasts indicate that when President H„ Hoover and Sir F. D. Roosevelt, President-elect, informally discuss foreign war debts on Tuesday the. prevailing atmosphere will bo against a. further moratorium or reduction. From the highest administration sources lias come word that the President is definitely opposed to another year’s moratorium, and that he prefers the adoption of an attitude more rigid than the continued Suspension of payments requested by Britain, France and Belgium. In like manner, Mr Roosevelt has declared against cancellation, while lie lias been silent on the requests for a re-examination of the debt- problem. Prominent Democratic legislators have joined the Rlepnblican leaders in declaring against the suggestion of an extended moratorium.

“Measured by what they could buy with money in their own countries, the •real cost of the war debt payments has increased by 87 per cent, in the case of the British taxpayer anti has decreased by 30 per cent, in the case ol the French taxpayer since the funding agreements were made, while the real value of the payment to bur Government has risen 43 per cent.,’’ a. “New York Times.” financial article to-mor-row wil.l. state. “The percentages are calculated bv comparing the presept currency exchange rates, costs of living and other aspects.