WAR DEBTS PROBLEM.

Waikato Times, Volume 113, Issue 18952, 23 May 1933, Page 5

WAR DEBTS PROBLEM.

AMERICAN ATTITUDE.

THE JUNE INSTALMENTS.

WHOLESALE DEFAULT EXPECTED

United Press Assn. —Elec. Tel. Copyright.

WASHINGTON, May 21

With Congress tentatively soheduled to adjourn early in June, there is much speculation regarding any,definite war debts policy the President, Mr Roosevelt, may take before t'he meeting of the World Economic Conference.

Earlier reports that he was prepared to send a message to Congress requesting power to negotiate agreements during the recess have been widely denied in Congressional circles and it appears obvious to observers that in spite of some change in opinion, the majority of members of Congress are still opposed to cancellation or extensive revision.

However, a message asking for power to negotiate tariff treaties will probably be presented soon. No serious opposition is expected.

Although, in anticipation of possible wholesale defaults of the June 15 war debt payments, the attitude of “pay or default” has been widely expressed, informed observers understand that Mr Roosevelt Is still hopeful that his original policy of accepting proposals for adjustment from individual nations and transmitting them to Congress for approval or rejection, may prove successful, at least in the case of Britain. It is felt that the British debt was funded on exceedingly hard terms and a specific request for readjustment might he accepted by Congress.