WAR DEBTS PROBLEM.

Waikato Times, Volume 112, Issue 18797, 19 November 1932, Page 5

WAR DEBTS PROBLEM.

AMERICA’S ATTITUDE. CONFERENCE OF PARTIES. EFFECT ON STERLING MARKET. United Press Assn. —Elec. Tel. Copyright. WASHINGTON, Nov. 17. The President, Mr. Hoover, and the President-elect, Mr. Roosevelt, have arranged to hold a conference In Washington on Tuesday to consider war debts. Mr. Hoover has- called a two-party meeting of three Republican and three Democrat members of the Finance Committee of'the Senate and the Mays and Means Committee of the House of Representatives for Wednesday to discuss with him the same questions. To-day the French and Belgian Ambassadors conferred with the Secretary of State, Mr. 11. L. Stimson. They intimated later that they had not received an answer to their requests for a moratorium extension and a review of the debt position. In the course of a telephone conversation with Mr. Hoover to-day Mr. Roosevelt agreed to attend the conference at White House on Tuesday afternoon. He will have one adviser and ‘Mr. 0. L. Mills, Under-Secretary to the Treasury, will assist the President in presenting pertinent data. As a refusal of a postponement of debt payments is virtually agreed upon, the Democrat leaders have indicated that Mr. Roosevelt will advance a programme proposing an International conference on all questions of economic import. It is thought possible that the agenda for the World Economic Conference could be extended to Include debts, but it would be hardly possible to discuss tariff revision there, which Mr. Roosevelt believes would make the payments possible. The apparent rejection of the Notes asking for a postponement of payments adversely affected the sterling market at New York, where the pound fell 2 7-8 cents. This brought it to within 1 -Bth cent of 'the year’s low level.