Will Discuss War Debts

Manawatu Times, Volume LVI, Issue 7062, 23 January 1933, Page 7

Will Discuss War Debts

Also World Economic Conference

AMERICA MAKES IMPORTANT MOVE

United Press Association —By Eltctric. Telegraph—Copyright WASHINGTON, Jan. 20

United States interests in world affairs engaged Retiring-Presidont Hoover and President Roosevelt in conference at White House today.

They agreed to discuss the question of war dobts with Britain.

Momentous Meeting in March

WHITE HOUSE TO TAKE A COMPREHENSIVE VIEW.

WASHINGTON, Jan. 20,

Conference discussions are to take place early in March, after tho change in the administration. In a statement issued at White Houso, following an hour and ahalf meeting, it was said that the official talks with Britain would include also the economic problems of the world and “ways and means for improving the world situation.” Secretary Stimson was instructed to invite negotiations with Britain immediately to arrange for the Conference Friday’s conference was attended by Secretaries Stimson and Mills, Messrs Norman Davis and Moley.

Broad Scope of Discussion

NEGOTIATIONS WILL BE MONTH EARLIER

Received Sunday, 5.5 p.m. WASHINGTON, Jan. 20,

The Hoovertßoosovelt conference today was followed by a terso communique that the British “representative” would bo received by Mr. Roosevelt soon aftor his inauguration for the purpose of discussing debts, with the added significant comment: “It will, of course, bo necessary to discuss at the same time world economic problems in which the United States and Britain are mutually interested. Therefore a representative should also be sent to discuss ways and means of improving tho world situation.” Following the conference Mr. Roosevelt proceeded to Warm Springs, Georgia, for a final conference with his party leaders preparatory to forming his Cabinet. Ho appeared greatly pleased with the results of the conference, which was natural for sevoral obvious reasons. Firstly, the earlier differences of opinion rogarding procedure between himself and Mr. Hoover have been settled entirely in his favour. Secondly, tho mention ot world economic matters will leave the way open to implement, if possible, his tariff reciprocity thesis and also to ‘‘bargain” for other concessions. Thirdly, contrary to the policies of Messrs Hoover and Coolidge, European envoys will be coining ro America instead of the former continual stream of representatives to Europe. Contrary to earlier speculation the Hoover Administration will have notfiing to do with, tho negotiations. It will merely be authorised by Mr. Roosevelt to invite Britain as the first preference nation to send a delegate after March 3, thus moving up the date of ■the renewal of negotiations by at least a month and perhaps longer. Mr. H. L. Stimson’s Department will co-oper-ato with Mr. Roosevelt’s experts in preparing and presenting tho material but will havo no voico in formulating the programme.

It is apparent that Britain somo time since tho latest official Note asked for an early renewal of tho negotiations which resulted in to-day's conference. Although the communique mentioned only Britain, Mr. Roosevelt reiterated that the negotiations would be “open to all debtors.’’ No new Noto will be sent to Britain. Mr. SLimson will merely give an oral invitation to Sir Ronald Lindsay, British Ambassador, to act according to the communique. The New York Times’ political correspondent from aboard Mr. Roosevelt’s special Tailway carriage wires: “Mr. Roosevelt expressed complete agreement with tho communique. It was said that Mr. Roosevelt signified his willingness to begin with Britain what will undoubtedly be a series of debt discussions with this and other nations because the British Government requested it. Mr. Roosevelt represented that ho feels the most important factor in his agreement with Mr. Hoover is the fact that a month has been saved, permitting Britain to selecta representative who will present his case almost immediately after Mr. Roosevelt’s inauguration. The future procedure is still doubtful. There is a possibility that Mr. Roosevelt will appoint special representatives to talk with the British Emissary here or ho may decide to participate himself with his Secretary of State. In cither event Mr. Roosevelt will keep abreast of developments. There is every indication that he intends to attempt somo bargaining to get certain advantages for the United States in return for the cancellation of all or any part of tho war debts, or for a substantial reduction.”

Before Next Payment is Due

IMPRESSION OF STALEMATE REMOVED

Received Sunday, 9.50 p.m. WASHINGTON, Jan. 21,

Following the lloover-Rooseevlt conference it is learned that Mr. Roosevelt expects the British envoys here wnen he takes office to discuss the war debts. It is hoped tho discussions will be completed beforo the next payment js due on June 15. At the same .time

it is made olear that Mr. Roosevelt does not regard Prance's failure to pay on December 15 last as default wut Tathcr as deferment. It is forecast that the debt discussion will be kept separate from conversations on means of improving me world economic situation with separate delegations handling the two problems. It is understood Mr. Roosevelt expects nations other than Great Britain to seek a new schedule of debt payments. The new President may mako the discussions with Britain and possibly with the others the instrument for seeking tariff and trade agreements which he mentioned frequently during his campaign.

The New York Times, in n leader on the Hoovcr-Koosevelt debts communique, says it tends “to romovc the improssion of stalemate which has pervaded Washington since December 1 and which has baffled and discouraged European Governments in their approaches to OUT 3. “ Press Welcome on Both Sides Of Atlantic “'A STEP TOWARDS SANITY" Received Sunday, 10.30 p.m. NEW YORK, Jan. 21. The leading newspapers of the nation for the most part ■welcome Mr. Roosevelt’s announcement on the debt conference. “It is a step towards sanity," is what tho Baltimoro Sun calls it. Ramsay MacDonald May be Envoy TARIFF TACTICS Received Sunday, 10.30 p.m. LONDON, Jan. 22. The greatest satisfaction prevails in London political circles at the White House announcement. The News-Chronicle says it is expected Treasury officials will shortly be despatched to Washington to assist Sir Ronald Lindsay (British Ambassador) to conduct preliminary talks, with the Cabinet delegation going later for the full-dress conference, probably headed by Mr. Ramsay MacDonald, or else the Chancellor of the Exchequer. The Daily Telegraph says: “The invitation will be received with mixed feelings in Britain. It is all to the good that the war debts question should be salvaged from the backwater into which it has been allowed to drift, but Washington's reference to the world economic situation suggests that American means to use the war debts to negotiate a tariff bargain with Britain, and presumably later with the other debtors separately, which will prejudice the application of any world formula by the AVorld Economic Conference."