WAR DEBT DISCUSSION

Hawera Star, Volume LII, 27 January 1933, Page 5

WAR DEBT DISCUSSION

ACCEPTANCE BY BRITAIN RESERVATIONS IN REPLY EXCLUDING OTHER ISrUES. MAY CAUSE CONTROVERSY. (United Press Association—By Electric Telegraph Copyright.) WASHINGTON, Jan. 25. Great Britain to-day accepted Mr. F. D. Roosevelt's terms tor tlic discussion of war debts, but made a reservation against deciding what questions would be considered by the v orld economic conference until the general meeting of all nations which are to birepresented.

The feature of the British Note which is, likely to cause the greatest controversy is the clause virtually excluding discussions on important world economic problems during the debt negotiations. However, it is pointed out that if the British Note is vague concerning this important feature the Hoover-Roosevelt communique is equally vague on the same feature. The Note dispatched .from London tended to substantiate the opinion held by many that Britain wished tc divorce the debt conversations irom such problems as gold,, trade and sc forth.

With the receipt of Britain’s acceptance of the invitation to the conference with the United States, official circles agreed to-night that the next move must come from Mr. Roosevelt, iur H. L. Stimson, Secretary of State, telephoned to 2»L\ Roosevelt at Warm Springs, but the President-elect’s reaction is yet undisclosed. ’ . Some officials - expressed the view that a reply might not be made and the situation might be allowed to remain under the .status quo until tin next administration starts negotiations with Britain.

ROOSE V ELT COMMITTEE. Later to-day .it was revealed that Mr. Roosevelt is attempting to form a Congressional committee to keep touch between himself and Congress regarding the opinion oil war debts and on other matters. It is believed this would at least in a. measure serve the same purpose as having Congressmen on the commission to negotiate about debts, which Mr. Hoover ravoured and Mr. Roosevelt rejected.

The British reply was delivered at the State Department while a furious debate was in progress in the Senate which indicated that if there had been any yielding in Congressional oppose tion to cancellation or revision it was still of small proportions. The debate which again broke out in the- Senate was started by a Republican member who raised violent objections on account of a rumour that an emissary of Mr. Roosevelt was now in Europe negotiating with various Governments. The Democrats vigorously denied the rumour, which Mr. Roose velt later denied officially from Warn. Springs. CHANCELLOR, CRITICISED

Senator Johnson denounced tilt British position and read a dispatch quoting Mr. Neville Chamberlain’s speech at Leeds'. He added“ The American declaration upon debts and reparations is not liked. It lias absolutely no effect upon our British brethren.”

press opinion is generally cool towards Mr. Chamberlain’s speech. The “New York Times” says he lias developed no new arguments but mere ly repeated the old ones in his solemn, official manner.

Tho “Herald-Tribune” in- a leader headed “Time for Silence” said Mr Chamberlain was not really speaking to the Leeds Chamber of Commerce. He was speaking to the American people. “Most thoughtful Americans, 5 ' the article continued, “already agree with a great deal of Mr argument, while those who do not art unlikelv to be converted by having the British Chancellor of the Exchequer explain to them how stupid they are. 5 The opinion ns expressed that the discussion has gone beyond the- point where statesmen could hope to influence the public opinion of other countries. Opinion could better be converted through ordinary diplomatic negotiations.

EXCLUSION OF FR ANCE.

PROTEST OF M. BONCOUR

PATHS, Jan. 25. M. Boncour received the British and United States Ambassadors and discussed the situation ■ arising from France being excluded from the AngloAmerican negotiations on the ground she had not paid the last instalment.M Boncour urged that the United States should realise the advisability of all countries being represented in the debt negotiations at Washington.

OPPOSED TO' REDUCTION

VIEWS QiF CONGRESS MEMBER

Washington. Jan. 25. Representative Henry Rainey, the Illinois Democratic floor leader, predicted to-day to newspapermen that no reduction or cancellation of war debts would result from the conference to be held after Mr. Roosevelt takes office. “The American people are not goinor to stand for a reduction in debts,” lie said. “Debt conferences should he linked with the world economic conference. The thing to do is to bring about a removal 1 of international trade barriers- so that trade can be revived. The conferences already projected hol<l the onlv pos sibilitv of opening up trade routes and n ing the debtors, a chajce to pay.

ALL TRADE ONLY BARTER

NEED FOR RECOGNITION

Received 1.1.20 a.m. to-day. LONDON. Jan. 26. “Tbo Times” says it wdl not be easy between now and March to brine the American public to realise that all trade is onlv a- barter of goods and services and" that • money even in the form of gold is merely a counter to facilitate their exchange. “Until this is realised there is little hope of a settlement,” continues The limes. •“If it is realised in time the discussions at- 'Washington may he a useful prelude to the world conference. ’