WAR DEBT POLICY

Taranaki Daily News, 1 August 1932, Page 7

WAR DEBT POLICY

CANCELLATION OPPOSED U.S. DEMOCRATIC PLATFORM “MAKE PAYMENT POSSIBLE” REHABILITATION OF TRADE LOWERING OF TARIFF WALL By Telegraph—PreM Assn.— Copyright. Rec. 6.30 p.m. New York, July 30. Mr. Franklyn Roosevelt (Democratic nominee for the Presidency), in an important broadcast speech gave an apparently definite indication of what hi# policy would be if elected President. He reiterated opposition to the cancellation of war debts and advanced a tariff revirion thesis as * means of settling the vexing question. “The problem of debts is complex,” he said. “However, a solution was brought measurably nearer at Lausanne. Britain, France and Germany have agreed among themselves concerning reparations, and the danger now is that they may turn a united front against us. This comes, I am convinced, not so much from debts owed as from our barriers against their trade, which makes the problem so difficult.

“Debts will not be a problem; we will not have to cancel them if we are realistic about providing ways whereby payment could be made possible through profit oris- ■’ ing from t the rehabilitation of trade. The Republican platform said nothing about this, but their position has been assured as one of demanding payment and at the same time through high tariffs making payment impossible. Our policy declares for payment, but at the Same time for lowered tariffs and a resumption of trade, which, will open the way to payment.”