FRANCE AND AMERICA

Poverty Bay Herald, Volume LV, Issue 17608, 26 October 1931, Page 7

FRANCE AND AMERICA

CONVERSATIONS OPENED FRANKNESS AND CORDIALITY RESTORING WORLD CONFIDENCE (Elec. Tel. Copyright—United Press Assn.) WASHINGTON, Oct. 25. Ways to use the well-stocked banks in the United States and France and to create tho blessings of confidence were devised on Saturday by President Hoover and At. Laval.

Tired, but smiling, the President made it dear that his starting point had been belief in the people and that the nations would suffer more from frozen confidence than from frozen securities. His aim and M. Laval’s had been, lie said, to find a way of spreading confidence both in internal relations and in economics. They felt that they had succeeded. At. Laval told of being deeply impressed by the very great frankness and cordiality of his talks with President Hoover. The subject of inter-govcninicntal obligations, especially those arising from the war, were approached with a realisation that no final steps could be decided. Any conclusion would have to be approved by the national legislatures. A statement will be issued later. It is known that there will be nothing therein in the way of an American guarantee for .the security of France. From a speech the Premier made on his arrival at New York it has been hinted that lie will press for promises of co-operation with France in time of war if needed, but no such discussion occupied the conference.

The New York Times’ AVasliington correspondent says the following conclusions have been reached between President Hoover and M. Laval: (1) There will be no further withdrawals of gold by Franco from" the United States without prior consultation with the central banking institutions of both countries; (2) the Federal Reserve Bank discount rate on New York may bc'raised to 4 per cent.; (3) no public action affecting the mutual interests of either country will be taken without prior consultation; (4) President Hoover will make no proposals for the extension of the debt moratorium without prior consultation with France; (5) no proposal will be made by the United® States for revising the Young plan and German reparations. SENATOR BORAH’S VIEWS AI. Laval and Senator Borah failed to find nil understanding on international political relations at a conference on Saturday night. At tho end it was plain that each held the views he had held at the start. The opinion is expressed that there is no prospect of any agreement, between France and the United States on such questions as those of disarmament and debts at this time.

“We found ourselves no closer together, ” Senator Borah said, “when we parted than when we started. We talked over everything. It was a very pleasant visit and verv frank.” It is the Senate which must finally ratify any Franeo-American agreement. Ln consideration of any such agreement, Senator Borah lias a powerful voice. Secretary Stimson dropped in occasionally on the conference, which was held in the study of liis home after a formal dinner to the French Premier. The Herald-Tribune and New York Times, in special Sunday leaders, take Senator Borah severely to task for his statement urging the cancellation of war debts. The Tribune says: “Senator Borah is exercising the inalienable right of an American statesman to get ou tlie front page. To Americans, the astute and unastute tricks of Senator Borah arc too familiar a story.” The Times says: “There is no need to argue the point of the frightful lack of good taste and propriety. He proposes steps which would take the best efforts of the ablest men in the world 10 years to achieve, and intimates that it is the easiest thing conceivable, to take them immediately. A little consideration for the two responsible rulers who are conducting the delicate negotiations should have induced him to hold his fire until after they had announced its results.”