BARGAINING ON DEBTS

Hawera Star, Volume LII, 25 January 1933, Page 9

BARGAINING ON DEBTS

- v NATIONS WHICH WANT RELIEF PROSPECT IN AMERICA ATTITUDE OF ROOSEIVELT. WORLD STABILISATION AIM. (United Press Association —By Electric Telegraph Copyright.) Received 1.15 p.m., to-day. NEW YORK, Jan. 24. A message from Warm Springs, Georgia, istates that the Presidentelect, Mr. F. D. Roosevelt has given authority to Mr. Iff. L. Stimson, Secretaiy of State, to arrange for separate conferences with the European debtor nations which have met their obligations and now are requesting an opportunity to talk over relief. Mr. Roosevelt is standing by his policy that all debtors should always have access to their creditors. Nevertheless he is going to have no genera! conference on war debts. He will take each nation separately and deal with it personally. Undoubtedly, as in the case of Britain, Mr. Roosevelt is going to link the forthcoming economic conference with debts. In other words it seems obvious that he will do some bargaining with the debtors if they want relief. He wants assurance of general co-operation on a programme aimed at world stabilisation which ( lie hopes to get from the economic parley.

SETTLEMENT must be final. OPINIONS OF CHANCELLOR. Received 2.5 p.m. to-day. LONDON; Jan. 24. The Chancellor of the Exchequer, Mr. Neville Chamberlain, addressing the Leeds Chamber of Commerce regarding the American war debts message reiterated that cancellation was the best thing for which to work, but if this view outstripped current American opinion a conference would ,b\3 welcome whenievier America was ready. He urged that a settlement must be final and must avoid involving a renewal of the claim for reparations from Germany because a disturbance of the Lausanne conference plans would re-open old wounds.