WAR DEBTS REVISION?

Wanganui Chronicle, Volume 74, Issue 141, 17 June 1931, Page 7

WAR DEBTS REVISION?

NO HELP FROM AMERICA ATTITUDE OF THE TREASURY NO CHANGE TO ANNOUNCE [By Telegraph—Press Aseociation Copyright] Received June 16, 5.40 p.m. WASHINGTON, June 15. The Under-Secretary, Mr Mills, sai l le day that the Treasury has not chang(H its attitude on the revision of war debts. HOOVER ADMINISTRATION OBJ ECTIVES ANNOUNCED. Received June 16, 9.40 p.m. NEW YORK, June 15. Speaking at Indianapolis, tho Piesi dent, Mr Hoover, discussing the depie-.-sion before tho Indiana Republican Euitorial Association, declared unequi vocally for individualism against ‘ a dule from the Federal treasury.” Hu also declared against Government ownership of public utilities; fur pruteetiv. tariffs; against Government interference in business; and against the rami lications of Government control in the incs of citizens. “The exacting duty of the Government in. these times is, by use of its agencies and its influence, to strength on our economic institutions by inspir ing co-operation in the community, tu sustain goodwill and keep our country free of disorder and conflict by co-opei-ation with the people, to assure that the deserving shall not suffer, and by the conduct of the Government to strength on the foundations of a better and stronger national life,” said Mr Hoover. “These have been the objectives of my administration in dealing with this greatest crisis the world has ever Known, and I shall adhere to them.”

In these words Air Hoover sounded the rallying cry of the Conservative.' in the politics of the United States, and of the Hoover Republicans in the presidential campaign, thus inaugurated :i year in advance of the national conventions. Other Countries Blamed. Air Hoover placed the blame for American conditions upon the other countries of tho world, and decried the critics who demand a five-year plan like Russia’s for the United States. “The main causes of the extreme violence and long continuance of this depression came not from within but from outside of the United States. Had our wild speculation, our stock promotion with its infinite losses and hardships to innocent people, our loose and extravagant business methods, and our unprecedented drought M.en our only disasters, we would have recovered several months ago. A largo part of the forces which have swept our shores from abroad are the malign inheritances in Europe of the Great War.” The President stressed that America was more self-contained economically than any other great nation. Ho de dared that the underlying forces of recovery were asserting themselves. He outlined the remedial steps taken by his administration. He spoke against the dole and against intimations from abroad that the American tariffs be revised and concluded with the assertion that America has a “plan,” namely, to provide for a 20,000,000 increase in population in the next 20 years and for their happiness and well-being?