WORLD ECONOMICS

New Zealand Herald, Volume LXX, Issue 21453, 29 March 1933, Page 9

WORLD ECONOMICS

PROBLEMS DISCUSSED BRITAIN AND AMERICA WAR DEBTS SIDE-TRACKED By Telegrtfph—Press Association —Copyright (Received March 28, 5.5 p.m.) NEW YORK, March 27 t The Washington correspondent of the New York Times says the conversations ' between the Secretary of State, "Mr. Cordell Hull and the British Ambassador, Sir Ronald Lindsay, were continued to- > day in circumstances which indicate that I London has deferred to the wishes of ■ Washington and now is prepared to explore economic questions on the basis of > the agenda of the proposed Monetary and I Economic Conference. After the discussions at which British and American economists were present, a joint statement was issued saying:—"We have continued our preliminary and tentative discussions on the world economic situation and confined them to t.hose»topics contained in the agenda recently prepared by the preliminary committee at Geneva. " We feel gratified at the value of these talks which have made clear the views of the officials of the two countries. We ex- , pect to continue the discussions." There was no mention of war debts, but there is no indication that Britain has relinquished her hopes of a'n adjustment. It is understood that the British Government is greatly concerned over the steady approach of June 15, when 75,000,000 dollars are due. At th e ap- ! propriate time it will advance a plan embodying the. Lausanne agreements and the Balfour Note, both of which would imply a desire for a great reduction if not cancellation of the debt. According to informed opinion in Washington the British action in deferring to America's insistence upon exploring economic questions is due to the realisation r that this country would hesitate to readjust war debts without determining the possibility of mutually advantageous agice- , meats and other questions which tho Roosevelt Administration views as of great , importance. The President, Mr. Roosovelt, discussed the pending World Economic Conference with the French Ambassador, M. Claudel, who urged that it be held as soon as possible.