WAR DEBTS

Wairarapa Daily Times, 20 January 1933, Page 5

WAR DEBTS

SEEKING A SOLUTION AMERICA’S ATTITUDE. .Press Association Electric Telegraph—Copyright NEW YORK, Thursday. The Washington correspondent of the “Herald-Tribune” reports that the conference is for the purpose of an early opening of debt negotiations. ‘ Mr Hoover and Mr Roosevelt find themselves in agreement that no time should be lost in seeking a solution of the debts problem,” he says, “and both are hopeful of reaching a basis of action to permit debtor countries to present their eases before the change of Administration. ’ ’

AMERICA’S CHOICE. (Received Friday, 10.20 a.m.) LONDON, Thursday. At the annual meeting of Barclay’s Bank, the chairman, Mr F. C. Goodenough, said) that he thought Britain’s payment to America of further sums of gold might be dismissed as impracticable, the only alternative being payment in goods. He said: “If America desires payment she must take it this vcay and make payment possible by a readjustment of tariffs. America will sooner or later have to choose between adjusting her economic policy and forgiving the whole or part of the debts due to her. Britain’s return to the gold standard is impossible until she can feel sure that conditions are such that she and other countries will no? again be forced to suspend it.” Regarding, the industrial situation, he suggested that it might be possible to hold an early conference with the Dominions with the object of at means to alleviate the great evil of unemployment.