DEBTS TO AMERICA.

Waikato Times, Volume 112, Issue 18697, 25 July 1932, Page 8

DEBTS TO AMERICA.

MR BORAH’S VIEW. DISARMAMENT AND CANCELLATION United Press Assn. —-Elec. Tel. Copyright, WASHINGTON, July 23. The chairman of the Foreign Relations Committee of the Senate, Mr W. E. Borah, in a broadcast discussion of reparations and war debts praised the Lausanne agreement as “a harbinger of peace and hope for humanity.” Mr Borah urged the early convocation of an International conference, with America’s participation, to discuss important economic matters including reparations and debts. It i.s noted that this is in direct opposition to the State Department's latest utterances to thC effect that the conference should be limited to purely economic questions. Once more Mr Borah developed his favourite theme —disarmament. “The test of and response to Lausanne is at Geneva,” he said. A revision of debts by the United States might be necessary and desirable. If the policies initiated at Lausanne were carried forward the time was coming when it would be distinctly In the interests of the United States to consider again the question of debts. However, Mr Borah definitely predicted that cancellation would depend upon the settlement of other war problems. He laid stress on the Importance of the international situation upon domestic economics, and frankly stated that America must take the course calculated to he to her best advantage. The international conference should 'have power to deal with reparations, debts, disarmament, the re-estahliA-ment of tho gold standard, the stabilisation of silver in 'the Orient, and other questions. Sooner or later the “war guilt” clause in the Treaty -of Versailles must disappear.