NATIONS’ DEBTS

Hokitika Guardian, 21 November 1932, Page 5

NATIONS’ DEBTS

AMERICA FIRM

PRESENT POLICY MAINTAINED.

* _ ( Per Press Association — Copyright.) WASHINGTON, November. Political forecasts .indicate that when President 'Hoover and Mr Roosevelt informally discuss the foreign debts on Tuesday, the prevailing atmosphere at the Capitol will be against any further moratorium dr < any reduction. • From the highest administration sources there has come the’ word that President Hoover is definitely opposed to another year’s moratorium, and that he prefers the adoption ofran attitude more rigid than that „of ; a continued suspension of the payments as requested by Britain, Franc© and Belgium. In like manner President Roosevelt has declared • against debt -cancellation. While the President-elect . has been silent on the requests made fo r : a reexamination .of the dpH problems, prominent- Democratic lecvlatoi’s have joined tb e Republican leaders in declaring against the suggestion.; COST OF DEBTS INCREASED. NEW YORK, November 19. Ths “New "Tork .Times,’.’--in. a -financial article to-morrow, ...will., say:— “Measured- by what they .could buy with the money in their own countries, Pbe real cost of the war debts payments has increased by 87 per cent, in the case of the British taxpayer, and has decreased by 30 per cent, in the case of the French taxpayer, -since the funding agreements were made, while the real value 'of the payments to. our Government has risen 54 per cent.” The foregoing percentages are calculated by comparing the present, currency, exchange rates, costs of , Jiving, etc.