PAYING WAR DEBTS

New Zealand Herald, Volume LXIX, Issue 21346, 22 November 1932, Page 9

PAYING WAR DEBTS

MOVE FOR RELIEF

MR. HOOVER'S DESIRES

GIVING BRITAIN HET.P

REDUCTION FAVOURED

CONCESSION DESERVED

By Telegraph—Press Association—Copyright

(Received November 21, G. 15 p.m.) WASHINGTON. Nov. 20

Xt is authoritatively intimated that tho President, Mr. Hoover, while probably informing the Allies that tho war debt payments due on December 15 must be net, intends to ask the President-elect. Mr. Roosevelt, at the conference on Tuesdav to join him to urge upon the Congressional leaders the re-creation of the Debt Commission.

If Mr. Hoover fails to obtain his successor's approval he may nevertheless incorporate such a recommendation in his annual message to Congress on December 5, although the latter body ignored a similar recommendation a year ago in the President's moratorium message. It is known that Mr. Hoover would like to effect some arrangements before the end of his term whereby Britain, if not other debtors, would obtain an immediate reduction in the payments due to the United States.

He feels that such a concession is deserved, because the British originally settled on the basis of tho debtor most able to pay, and Britain is now regarded as being in a much less favourable economic position than France or other of the important debtor nations.

There is much sentiment in the Congress, echoed by Mr. J. E. Watson (Indiana), favouring a reduction in the British debt, but with other nations also seeking a downward revision, there appears to be little chance of favourable action on any of the proposals from reconvening the Congress.