The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1931-06-20
President Hopes
To Speed End of
World Depression

he has in mind to strengthen Ger
many's position and to prevent q
critical world wide economic unset
Element.
Reduction or cancellation Of the
war debts has been ruled out by the
president as one of the remedies be-
cause OF the opposition to it in con-
gress. This leaves the moratorium
plan a. the next available remedy
and upon this subject the confer
ences now are centered.
The talks with members Of congress
will continue into next week. Chair
man Smoot, of the senate finance
committee, Is being awaited. Mean
while, the president was said at the
white house Saturday to be con-
templating the early issuance Of a
comprehensive statement on the
whole question.
Before his usual working hour Sat-
urday the chief executive had at his
office Assistant Secretary Castle, OF
state, and Assistant Secretary Mills Of
the treasury.
Soon after he conferred with Sena-
tor AShurst. Democrat, Of Arizona,
who refused to comment upon leav-
ing the executive offices.
Ashurst was followed by Repre-
sentative Treadway, Republican, OF
Massachusetts,.
Representative Tlson, Of Connecti-
cut, the house Republican leader. who
took part in the beginning of the dis
cussion Friday. spent Friday night at
the white house.
No Formal Engagements
The president, in view Of the de-
velopments concerning the German
situation, had nc formal engagements
for the day. AS a general rule there
are from six to- a dozen regular call
ers.
President Hoover's plan to help
Germany was. awaited Saturday as q
possible next step in combating the
world business slump.
It was indicated MI. Hoover would
hold further conferences with poll
tical leaders before bringing to ma
turity the proposals which he said
would be designed to speed economic
improvement In the United States
and abroad, especially in Germany.
After several discussions Friday
the president issued this statement:
Since my return from the central
west yesterday I have conferred with
those leaders Of both political parties
who are present In Washington with
respect to certain steps which we
might take to assist In economic re-
covery both here and abroad.
These conversations have been
particularly directed to strengthening
the situation in Germany. No def
mite plans o. conclusions have yet
been arrived at, but the response
which I have met from the leaders OF
both parties is most gratifying. Any
statement of plan or method Is wholly
speculative and Is not warranted by
the facts"
Speculation Follows
Despite that warning there was, Of
course, speculation. Among steps
which some insisted might be taken
were a moratorium Of war debts and
separations and a loan to help Ger
many through her financial straits.
Germany's recent cry that the bur-
den Of reparations payments was in
tolerable already had revived. dis
cussions Of the fact that under the
Young plan she might suspend the
major portion of PREPARATIONS pay
ments for two years.
Provisions for a similar suspension
were made in the war debt settle
ments negotiated with the United
States.
Financial observers have felt that
Germany would claim the mora
forum only as a last resort because
OF the possible effect upon her
credit.
That Germany wants a change in
the situation has been indicated by
developments following her appeal for
revision Of the Young plan which
calls for payments this year Of more
than $425, 000, 900.
German government leaders have
with Prime Minister Mac
Donald and Foreign Secretary Hen
derson in England. and the English
statesmen are going to Berlin soon
for further discussions.
Interest in war debts and repara-
tons have been heightened. too. by
the visit Of Secretary Mellon to Eng.
land and the announcement that Sec
rotary Stimson also was going abroad.
Although Mellon denied that his
trip had official significance, much
has been attached abroad
to his presence. This has not been
lessened by his conferences with Mac.
Donald, Henderson and Montasu Nor
man, governor Of the bank Of Eng
land.