WHAT PAYMENTS MEAN

Taranaki Daily News, 14 December 1932, Page 7

WHAT PAYMENTS MEAN

REALISATION IN AMERICA SOME CHANGE IN OPINIONS “MOST UNPOPULAR NATION” MR. HOOVER A “SCAPEGOAT” * By Telegraph—Prese Assn.— Copyright. Rec. 7.30 p.m. New York, Dec. 12. “In this late hour of the international discussions of the foreign debt instalments due on Thursday it appears to be dawning on Congress that on that date this nation will be the most unpopular community in the world,” telegraphs e chief Washington correspondent of the New York Times. The correspondent says the last Britisn Note and M. Herriot’s speech in the Chamber of Deputies to-day seem finally to have brought the realisation which friendly admonitions from moderates abroad and repeated warnings from the domestic Press had failed to convey. “The general attitude of Congress when it assembled was that the debtors were bluffing; that they had the money and were simply following the ancient trading tradition of trying to get out of paying it,” the correspondent adds. “Although it cannot be said that the attitude of the majority of congressmen is softening, they seemed surprised to learn that the payments may really involve serious eco-nomic-difficulties. Many are becoming convinced that Thursday’s payment will be the last under the existing agreement, and that under the leadership of Mr. Roosevelt the great Democratic majority will be obliged to lay new foundations before June 15, 1933.” The correspondent declares there is no sign of the yielding of any written bond for the December payment, and Mr. Stimson’s statement to that effect received unanimous approval in the congressional cloakrooms. v , “The spreading feeling, however, that many Europeans will execrate the United States next Thursday,” the correspondent adds, “impelled most Democrats and many Republicans to seize with much satisfaction M. Herriot’s declaration and blame Mr. Hoover for the view of the debtor Governments that we had at last accepted the existence of a link between debts and reparations. Mr. Hoover being overwhelmingly defeated, he has little power in Congress ..and therefore is an ideal ‘goat.’ ” . The correspondent says the Hoover moratorium is becoming increasingly unpopular. Many congressmen publicly repent their assent and now warmly welcome M. Herriot’s statement that Germany should be required to take the initiative. Sympathy with Britain is increasing and the previous flow of adverse congressional statements has practically ceased, but the feeling still exists that Britain’s pooling of her case with France was not adroit.

“Not the least unfortunate incident in an unhappy week for Europe and America is the fact that the date selected for Mr. Hoover’s annual reception of foreign diplomats is Thursday,” the despatch concludes.