DEBTS TO AMERICA

New Zealand Herald, Volume LXIX, Issue 21358, 6 December 1932, Page 9

DEBTS TO AMERICA

PRESIDENT'S VIEWS COMiVIUNIGATION AWAITED easing of payments POSSIBILITY HINTED reviving commission By Telegraph—Press Association—Copyright (Received December 5. 7.35 p.m.) WASHINGTON. Dec. i Mr. Hoover's message to Congress, which opens to-morrow, may include the war debt recommendations, although these may be the subject of a special foreign relations message. The Congress message is be ; ng anxiously awaited. The nature of the debts communication is being carefully guarded, but it is thought possible that it may give a detailed answer to the British Note, with a recommendation that the War Debt Commission be reorganised. The Herald Tribune understands that Mr. Hoover, in an anxious effort, to eliminate any possibility of general European debt default, has "sounded out" London regarding the possibility of easing the payments due on December 15 without absolute suspension. The nature of the sul rjrested compromise is unknown. xo TIME TO EE AD NOTE MR. GARNER'S CONFESSION "TOO BUSY WITH BEER" WASHINGTON. Dec. -1 The prize story about the war debt negotiations developed yesterday in a conversation which a Sun representative had with Mr. J. N\ Garner, Vice-President-elect. The Sun representative says: "This enrnent Texas statesman retailed what he had said to Mr. Hoover recently, adding, 'I still think the same way.' Then he continued, ' But you know, I have not read this latest Note from Britain. I have not had time. 1 have been too busy with beer.' " Mr. Garner in this matter has more power than the President. He will be ' boss' of Congress in the coming ' lame duck' session, and next year be will be Vice-President and the presiding officer in the Senate.

" One 6i" the greatest documents in diplomatic h:storv had passed, and Mr. Gainer would not take the trouble to read it. vet lie was ready to jump into the front column of the American press with the positive declaration that Congress was not go in-- .to change its mind about it. " Congressmen repeatedly disclose that the chant; ng of minds is one of the best things they do. Mr. Garner, himself, a few months ago, was one of the mostdevoied' believers in prohibition. The people changed his mind for him. '• As a matter of fact certain influential j senators told me privately that the British j position may. with great propriety, bo reviewed, but none of them thought the December payment should be postponed. OPINIONS IN AMERICA POSSIBILITY OF CHANGE "TRAGIC LOGIC" OF NOTE British Wireless RLGBY, Dec. 4 "Washington messages indicate a likelihood that Mr. Hoover will make the European debts question the subject of a special message to Congress next week. Meanwhile, reports are reaching London to show that although the British Note created a deep impression on a large section of American opinion, including many of those most in touch with the world economic situation, the first reactions of several influential Congress delegates show little or no departure from the attitude adopted by them during the recent electoral campaign. It is hoped that when time has been allowed for a more careful study of the tragic logic with which the British Note traces the history of the world depression and the relation to of the vast unnatural transfers involved in the system of international indebtedness, together with the effect upon both creditor and debtor countries of its continuance, some recognition will he forthcoming of the real needs 'of the world situat.on. For the time being, however, all messages from America gave slight reasons to couple this hope with expectation. Apart from America, the British Note has been hailed in nearly every country as both impressive and convincing. Mr. Stanley Baldwin, speaking at Sunderland, said the British Note to America was a statement absolutely accurate in facts and temperate in language. "I have no doubt that Americans will give/most careful and, so far as the Government is concerned, most sympathetic consideration to the Note, because they stand as much as we do, if not more, to suffer from the continuance of this particular form of payment. "What, makes me so glad is that following on the Lausanne Conference and on this Note we shall have an International Economic Conference as soon as it can he convened in 1933, at which I hope these questions will be studied and probed Witli Knowledge and .sympathy. LOWERING OF TARIFFS lead to world urged MEANS OF REDUCING PAYMENTS WASHINGTON, Dec. 3 Mr. Cordell Hull, an authority on tariffs and Tennessee Democrat delegate in the Congress, sent a proposal to Mr. Hoover to-day that the United States take the leadership in persuading world Powers to lower tariffs 10 per cent and cut down Other artificial trade obstacles. If nations accepted this programme, America could reduce their debt payments.