The Waikato Independent. THURSDAY, APRIL 20, 1933. NOTES AND COMMENTS.

Waikato Independent, Volume XXXIII, Issue 2991, 20 April 1933, Page 4

The Waikato Independent. THURSDAY, APRIL 20, 1933. NOTES AND COMMENTS.

DEBTS—TWO POINTS OF VIEW.

The British view, as stated recently by Mr Neville Chamberlain, Chancellor of the' Exchequer, when addressing American newspaper correspondents, was as follows:

Our view is that an adjustment of these war debts is as much in the interest of the creditor as of the debtor, and therefore I deprecate the suggestion that the coming negotiations should bo regarded as a big swapping deal. The British Government does not for a moment suggest that war debts are the only causo of our troubles. Even ■if the war debts were disposed of, there still would bo an enormous number of obstacles in the way of world recovery. It is not for me to tell the United Slates what to do, but I hope tariffs will bo ono of the subjects considered in our coming discussions at Washington. The Ottawa agreements cannot be tern up, but Ottawa does not preclude agreements with other countries, such as wo are already negotiating.

William E. Borah, U.S. Senator from Idaho, replying to Mr Neville Chamberlain, said: It will be difficult, indeed I think impossible, to secure even a postponement of these debts, much more difficult to secure reductions, unless other economic problems are considered and adjusted at the samo time. Mr Chamberlain speaks of its being “as much in the interest of the creditor nation as the debtor nation” to adjust the debts. I am of the opinion that it is as much in the interest of one nation as another to adjust all theso economic problems which stand in tho way of the economic recovery, and to reopen markets, to re 1 vive trade and commerce and to rebuild the purchasing power of the masses. If any nation supposes that it can, by reason of its cheap currency system, exempt itself from the world’s economic conditions and threatened collapse it will fmd, in my opinion, that, it is taking a very narrow, selfish and ruinous position. GERMANY’S FOUR-YEAR. PLAN. Tho German Chancellor, Herr Adolf Hitler, in the course of a National radio broadcast, recently said: The National Government, with iron will and tenacious perseverance, will realise the following plan: Within four years the German farmer must bo relieved from impoverishment; within four years unemployment must be definitely overcome. Concurrently, conditions will be established for prosperity in the other branches of industry. As regards foreign policy, the Na-. tional Government sees its highest mission in maintenance of the viia! rights and. therewith restoration of the liberty of our people. While it is determined to put an end to the chaotic conditions in Germany, it will help to add a state of equal worth and, of course, equal rights to the community of nations. It is thereby filled with a sense of tho greatness of its duty to stand up with this free and equal pooplo for tho preservation and strengthening of peace, which the world needs today more than over before. May the good-will of others aid us, in order that, our most sincere wish for the welfare of Europe, and. indeed the world, be brought to fulfilment. TURNING OF THE TIDE. There is definite evidence each day, says tho president of the New Soutn Wales Employers’ Federation, of an improvement, in the major industries cf the State. That is a cheering pro nouncement. The Australian States were in a very bad way while New Zealand, under reduced sail, was carrying comfortably along. It was predicted, then that our turn would come.next It did. Tho very fact, however, that Australia is out of the trough, and showing daily evidence of steady recovery, should hearten us in New Zealand. We had to touch bottom before we could come up. The upward movement in Australia does not appear to bo a temporary spurt. Tt is an improvement day by day, reflected in the business columns of the newspapers, and therefore has all the promise of being maintained. These signs should assist in the strengthening of confidence in our own future. Tho end may be nearer than we think, and we should be preparing for the turn of the tide.