DEBT REVISION

Taranaki Daily News, 20 January 1933, Page 7

DEBT REVISION

reopening of question WHITE HOUSE CONFERENCE PRESIDENT AND ROOSEVELT SPECULATION IN NEW YORK IMPENDING DEVELOPMENTS By Telegraph—Press Assn.—Copyright. Rec. 7.55 p.m. Washington, Jan. 19. The brief announcement this morning that the President (Mr. H. C. Hoover) had invited Mr. F. D. Roosevelt (Presi-dent-elect). to visit him on Friday morning and word from New York that the invitation had been accepted aroused a flood of speculation regarding important impending developments in foreign affairs, both as regards war debts and the Far Eastern crisis.

It is revealed that the Secretary of State (Mr. H. L. Stimson) arranged the meeting, apparently considering that the maintaining of a co-operative foreign policy from the present administration into the next is imperative. The best informed circles express the opinion that debts are the primary cause of the conference, although the matter is closely linked with the world economic conference, upon which it is believed President Hoover wants further elucidation of Mr. Roosevelt’s views, particularly regarding the tune it should be called.

It is known that Mr. Hoover considers the stabilisation of the pound is of primary importance, although according to dispatches British opinion favours holding it in abeyance pending debt revision. This fundamental difference of opinion may develop into and cause a serious stalemate.

A conference between Mr. Hoover and Mr. Roosevelt will be held at the White House at eleven o’clock in the morning.

Both Mr. Hoover and Mr. Roosevelt will have several advisers. What will be said of the Manchurian situation, if anything, is in no way intimated. It is pointed out that Mr. Roosevelt has already reiterated the policies of the present administration and is not likely to take up a stronger position this time that there is no official or other reaction.

Press reports from Geneva to-day state charges will be brought against Japan of alleged fortification 7 of her Pacific island mandates, the Caroline Islands and Marianne, contrary to the treaty. The conference is for the purpose of early opening debt negotiations,” states the Washington correspondent of the New Yord Herald-Tribune. “Mr. Hoover and Mr. Roosevelt,” -he says, “find themselves in agreement that no time should be lost in seeking a solution of the debts problem and are hopeful of reaching a basis of action to permit debtor countries to present their cases before the change of administration.”