WAR DEBTS PLAN

Manawatu Standard, Volume LI, Issue 181, 3 July 1931, Page 7

WAR DEBTS PLAN

PRESENT DEADLOCK. BRITAIN’S CONFERENCE SUGGESTION. DECLINED BY FRANCE. (United Press Association—By Electric Telegraph—Copyright). (British Official Wireless.) Received July 3, 10.0 a.in. RUGBY, July 2.

Although tho discussions in Prris regarding tho French reservations relative to the Hoover plan, between Mr A. Mellon and Mr Edge and a member of the French Government, are not being resumed until late to-night, various exchanges took place during the day. An announcement was issued in London which, after expressing the desire of the British Government that the Paris discussions would prove successful, stated: —-

“Should no early solution be found the British Government expresses its willingness, in order that an agreement might be reached with the minimum delay, to hold a meeting of representatives of the Powers chiefly concerned at an early date.” It was later stateu in Paris that although the British suggestion strongly commended itself to the French Government, Parliamentary duties would make it impossible for the French Ministers to visit London druing the present week-end.

The proposal thus remains in abeyance, and it is hoped in any case that such progress will be made in the resumed Franco-American discussion as will make further consideration of the British suggestion unnecessary. It is stated that the United States was not opposed to the suggestion. UNITED STATES WARNING. MEMORANDUM TO FRANCE. WASHINGTON, July 2. The United States threw into its diplomatic deadlock with France tonight a warning that the failure of Mv Hoover’s debt postponement plan would result in a moratorium declaration by Germany. The warning was conveyed in a memorandum to tne French Government. It was asserted that the French counterproposals were not in keeping with the spirit of the Hoover plan. DEBT CONCESSION. LONDON, July 2. In tho House of Lords’etoMa'y, in the course of a general debate on safeguarding Imperial trade, Lord Passfield, pointing to the Government’s record for the promotion of Empire unity, alluded to Britain passing on the war debts concession as a gift Jo the Dominions.

“A gift?”- queried Lord Hailsham, who added: “We thought the Government was only suspending the debt like President Hoover.”

Lord Passfield pulled himself up and confessed that he spoke too hastily, and must measure his words. He added that there would be a postponement.