The Voice of Politics

Manawatu Times, Volume LV, Issue 7032, 16 December 1932, Page 7

The Voice of Politics

TALK OF “SCRAPS OF PAPER” WASHINGTON, Dec. 14. Disappointed and confused by the French insistence on a conference, the United States Government on Wednesday nevertheless held firmly to its attitude toward Europe on war debts — pay or default. But underneath official Washington ran a current of suppressed excitement. Expressions of indignation came from members of Congress. Senator McKellar said: “It is clear Germany is not tho only European nation that treats its obligations as scraps of paper. I think it is the most Ungrateful act in the career of any nation in the world.” The Chairman, Mr. Mcßeynolds, of the House Foreign Affairs Committee, said: “France has less excuse not to pay than any other nation. Tho settlement made with her was only 75 per cent, of what she received after the war. There is no question about France’s ability to pay. I admire very much the strenuous fight made by M. Herriot, but apparently tho Opposition ran wild.” Senator McNary, Assistant Republican Leader, said: “I can’tforcsee what wo may be up against.” Fatal to Prance. Senator Bingham said that he naa not supposed the French, whose business sense was so acute, would default. “They forget,” he said, “that, had wo been unwilling to lend the money they needed when they needed it ana on reasonable terms, the result would have been fatal to France.” Senator Harrison, ranking Democrat on the Senate Finance Committee, terd: “France’s attitudo is incomprehensible to mo.” One prominont Democratic Senator, who refused to permit his name to be used, held tho view that “the result . will be so embarrassing to France that she will regret' having pursued that course. We cannot afford to ignore it.” Representative Harold Knutson (Republican), of Minnesota, on Wednesday introduced legislation in the House to forbid the entry into the. United States of the securities of foreign Governments that have defaulted on debt payments. The measure would also prohibit advertising them for sale am. the carrying of such obligations through the mails.