WORLD RECOVERY.

Waikato Times, Volume 113, Issue 18929, 26 April 1933, Page 7

WORLD RECOVERY.

VISUALISING REMEDIES

SMOOTHING WAY TO SUCCESS.

M. HERRIOT’S VIEWS.

United Press Assn. —Elec. Tel. Copyright,

WASHINGTON, April 24. The Secretary of State, Mr. Cordell Hull, stated to-day that the economic conversations between the President and Mr. MacDonald had shown that there Was a general disposition to visualise basic remedies for existing ills and to attack them in a spirit of co-operation. No agreements had been reached. . • The conversations, said Mr. Hull were of great value in smoothing the way for success at the World Economic Conference which was expeoted to take place either in the middle of June or about July 1 in London. The indications were that the upshot of the Washington conversations would be in some cases, a gentlemen’s agreement and in others a disposition to take action between now and the conference toward coordinating national views. Asked whether war debts had entered into the discussions yet Mr. Hull replied emphatically in the negative.

Some Aspects Changed.

The former Prime Minister of France, M. Herriot, at a conference with journalists' after ills arrival in Washington yesterday, said America’s departure from the gold standard had changed some of the technical aspects of the problems lie was to discuss with President Roosevelt, but had not changed the purpose Of his discussions here. These were aimed at a restoration of the world’s economic machinery. M. Herlot arrived to And the An-glo-American financial experts discussing and approaching a general agreement for international Inflation, or, in terms which meet with greater diplomatic approval, the stabilisation of currencies at lower levels of parity between the pound sterling and the dollar.

France will come in for consideration to-morrow, when M. HerriOt’s views will be sought. The arrival of the French delegation has definitely placed other questions in the foreground. The memberss let it be known that discussions of war dobts, international politics, the status quo in Europe and French security, would be pressed at the proper time under Mr. Roosevelt’s broad invitation to M. Herriot to discuss all maters freely. Arrangements for triangular conversations between Mr. Roosevelt, Mr. MacDonald and M. Herriot have been completed. What the French reaction Will be to to-day’s turn of events is calculated to become the immediate centre of Interest. M. Herriot displayed great tact and goodwill in his statements to the press in Washington and New York. He emphatically repudiated any suggestion that his Government suspects or criticises America for her abandonment of the gold standard. Seoking an Understanding. For nearly three hours this evening Mr. Roosevelt conferred with M. Herriot and endeavoured to obtain a preliminary understanding upon the pressing problems of the world’s monetary standards, exchange restrictions and disarmament. They discussed much the same topics as those discussed by the President and Mr. MacDonald. When M. Herriot left White House shortly before midnight he stated that Mr. Roosevelt had laid down a complete programme for their discussion, including disarmament, world economic stabilisation, and war debts revision.

Indication was given in an authoritative quarter that questions in regard to disarmament which are now engaging the. attention of the Geneva Conference were dwelt upon at length. Informed circles represent Mr. Roosevelt as being most pleased with to-day’s disarmament conversations. This prompted Mr. W. E. Borah, chairman of the Foreign Relations Committee of the Senate, to comment that although currencies constituted the most pressing problem expenditure on arms was a continuous problem that also must be solved. He still held that this was one of the basic causes of world depression.