DEBTS PROBLEM

Hokitika Guardian, 6 December 1932, Page 5

DEBTS PROBLEM

BRITISH NOTE

CONGRESS REVIEW NEXT WEEK

(British Official Wireless.)

RUGBY, December 3. Washington messages indicate the likelihood that Mr Hoover will makethe European debts question the subject of a special mesage to Congress next week. Meanwhile, the reports reaching London show that although the British Note created a deep impression on a large section of, American opinion, including many of those most in touch with the world economic situation the first reactions of several influential Congressmen show little or no departure from the attitude adopted by them daring the recent electoral campaign. /

It is hoped when time has |ieen allowed for more careful study of the tragic logic with which the British Note traces the history of the world depression, and the relation thereto of the vast unnatural transfers involved in the system of international indebtedness, together, with the effect upon both creditor and debtor countries, of its continuance, .some recognition will be forthcoming to the real needs of the world situation. For the time being, however, messages from America give slight reasons to couple this hope with expectation. Apart from America, the British Note has been hailed in nearly every other country as both impressive and convincing.