OPPOSED TO SUSPENSION

Hawera Star, Volume LII, 7 December 1932, Page 5

OPPOSED TO SUSPENSION

December Debt Payment FINAL MESSAGE TO CONGRESS View Of President Hoover POSSIBLE MEANS OF HELP OTHER AVENUES SUGGESTED. Unitor ?rm> ABSociat.lon —B> Klectrlp Telegraph Copyright.) Received 11.1-5 a.m., to-day. WASHINGTON, Dec. 0. President Hoover in his filial message to Congress reaffirmed his previous stand on war debts. Turning to International relation® the president said that if the United States was to secure recovery and protection for future the nation must- co-oper-ate with foreign nations in many measures. He limited his direct discussion on war debts to the following: “European Governments obligated to us in war debts have requested a suspension of payments due to the United States on December 15, accompanied by an exchange of views upon Hu;, debt question. Our Government has informed them we do not approve of the suspension of the December 15 wou ld recommend to Congress, methods to overcome the temporary exchange difficulties in connection with this payment from nations whore such action may be necessary ’’ The president- linked the goals of world peace, world disarmament and world recovery and spolce of currency depreciation and a decrease in price levels in connection with the projected world economic conference. From these origins arose xnpst of the destructive .trade barriers now stiffing the commerce of the. world. “We could, by successful action, increase and expand trade through stability in international exchange ana monetary vqlues.” he continued. -By such "action world confidence could be restored. It would bring courage ana stability which will he /i■effected m overv v homo in our land.”

SPECIAL NOTE! PLANNED

FOREIGN! AFFAIRS REVIEW,

WASHINGTON, Dec. 5. President Hoover decidecl to transmit a special foreign affairs Note to Congress late this week. It will incorporate his war debt recommendations and perhaps discuss, the dlsaimainent and economic- conferences. He abandoned the idea of waiting until December 15 when he became satisfied that practically all methods designed to ease the exchange burden on Britain through making the payment had been explored without a remedy being found. It is understood this information has been transmitted to the debtor Governments through diplomatic channels.

ITALY DECIDES; TO PAY SUM. OWING AT PAR ROME, Dec. 6. . The Fascist Grand Council has. decided that Italy will pay its war debt Signor Mussolini presided. The council resolved that Italy should pay its instalment due on December 13, which was £250,030 at par, but no more, the clean/.slate policy regarding war debts being reaffirmed and immediate revision being asked.