WAR DEBT POLICY

Hokitika Guardian, 23 May 1933, Page 5

WAR DEBT POLICY

PAY OR DEFAULT

GENERAL AMERICAN ATTITUDE.c

(United Press Association—By Electric Telegraph—copynght.j

WASHINGTON, May 21

With Congxess tentatively scheduled to adjourn early in June, there is much speculation regarding any- ' definite policy regarding the war debts that the president may take before u,e convening oi the London Conference Earlier reports that, he was prepared to send a message to Congress requesting the power to negotiate 1 dei>t agreement dining the recess are widely denied Tn Congressional circles, and it appears obvious to observers that, desjnte some cnange of opinion, the majority in Congress are still opposed to either cancellation or extensive revision of the war debts.

However, a message asking the. power for the President to negotiate tariff treaties will probably be presented soon, with no serious opposition expected, In anticipation of possible wholesale war debt defaults on the June 15 payments, an attitude of “Pay or Default!” is widely expressed

In.onned observers' understand that President -Roosevelt is still hopeful tliat his original policy of accepting proposals for debt readjustment from individual nations, and transmitting them to Congress for approval or rejection, may prove successful, at least in the case of Britain. It is felt that this nation’s debt was funded in exceedingly hard times, and that a spec-

ific request for readjustment might*be accepted by Congress.