TALKS ON WAR DEBTS

Hawera Star, Volume LII, 30 January 1933, Page 5

TALKS ON WAR DEBTS

MOVE BY MR. ROOSEVELT INVITATION TO AMBASSADOR WISH TO AVOID' DEADLOCK. FINANCIERS URGE REDUCTION. (United PreK3 Association —By Electric Telegraph Copyright.) NEW YORK, Jan. 27. The President-elect (Mr F. D. Roosevelt) Assumed personal direction ot the war debts negotiations and virtually took over the functions of the Presidency when he invited Sir Ronald Lindsay, British Ambassador, to visit liim there and confer on the situation prior to the ambassador’s visit to England to place the matter before the Prime Minister (Mr. Ramsay MacDonald) and the Government. Sir Ronald Lindsay took an aeroplane from Washington to Atlanta. Thence, accompanied by Mrs. Roosevelt, he motored to Warm Springs, where he will start discussions with Air. Roosevelt on Sunday. At the afternoon Press confeienee Mr. Roosevelt in answer to queries on the nature of" the conference said lie would discuss debts and economics. It is assumed lie Mould inform Sir Ronald Lindsay of his views both as to procedure at the negotiations and what the American attitude could be expected to be. There is much speculation regarding .Mr. Roosevelt’s exact motive m inviting Sir Ronald Lindsay to Warm Springs. It is known that the financial interests of this country are pressing him for a sharp reduction in debts. At the sanie time there is a considerable difference of opinion among his advisers concerning xne extern, ot the reductions. Furthermore London despatches indicate there are- strong objections to his “bargaining” policy. - Informed circles believe firstly that he wishes to take the negotiations out of Mr. Hoover’s' hands and take full control himself, secondly that he wants to acquaint the British Government through Sir Ronald Lindsay of his position in full in order to avoid any possible disappointment. At the request of .the British Cabinet Sir Ronald Lindsay is sailing on January 21 to lay the Anglo-American debt situation before his Government, it was announced to-night. The opinion in official circles is that Sir Ronald Lindsay’s journey is in the interests of preventing a deadlock between Britain and the United States over the preliminaries in the Ala roll discussions. The impasse has been laid before Mr Roosevelt at Warm Springs, but no intimation has been given of the next move. While it is generally known that the present administration is anxious that the British should come here it is also understood by unusually authoritative sources that Mr. Hoover disagrees with the British view that they have no tangible proposals to offer in exchange for a downward revision of war debts.

The feeling is widespread in. important administration quarters that no formal answer to London should be sent at present on the grounds that it might discourage the British from engaging in discussions.

BREEZE IN THE SENATE. Though the State Department, is uncommunicative on debts, in the Senate, Senator Robinson. (Indiana, Republican) introduced a motion opposing without qualification revision of war debts, after assailing Senator Robinson (Arkansas) as Democratic leader, for having brought Sir ltonald Lindsay as his guest on to the Senate floor in violation of the rules. Senator Robinson (Arkansas) apologised, explaining that his action was inadvertent and that “the. subject of

international debts was not even mentioned, much less discussed.” "VYhero- * upon Senator Robinson (Indiana) rejoined, “I submit his interest is to get iiis nation’s debt reduced.” Senator Robinson (Ark anas) opposed immediate consideration of the motion which was referred to the Foreign Relations Committee of the Senate, where it is likely to be killed. The subject of debts also arose before the House of Representatives ways and means committee, which is considering a measure to increase the duties against foreign countries with depreciated currencies. Mr. James A. Farrell, a former president of the United States Steel Corporation, testifying before the committee as chairman of the foreign commerce committee of the United States Chamber of Commerce, described the measure as “the most important thing before Congress and one which would put the United States in a much improved position during the debts negotiations.” This measure, which was introduced bv Mr. Hill (Democrat) is generally ignored by the majority of his Democratic colleagues, who desire to keep the open tariff question for the incoming administration.