Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1931-10-30
Hoover And Laval Reach Accord On
Reparations.

The joint statement of President Hoover
and Premier Laval describing their con-
verstaions and the conclusions they reached
as made public by the White House.
follows:
The traditional friendship between the
United States and France, the absence of
all controversy between our two govern
ments. record of many events in cullab-
grafton toward peace of the world, en-
bracing among its recent phases the
adoption of the Kellogg BRAND pact, render
it possible and opportune for the represen-
tatives of our governments to explore every
aspect of the many problems in which we
are mutually interested.
Indeed the duty of statesmen is not to
overlook any means of practical coopera-
rion for the common good. This is particu-
larly true at time when the world
looks for leadership in relief from depres-
sion which reaches into countless homes
in every land. Relations of mutual conf
dence between governments have the most
important bearing upon speeding the
recovery which we seek. We have engaged
upon that mission with entire frankness
We have made real progress.
HAVE CANvASSED SITUATION.
We have canvassed the economical
situation in the world. the trends in inter-
national relations bearing upon it; the
problems of the forthcoming conference
for limitation and reduction Of ornaments ;
the effect of the depression on payments
under intergovernmental debts; the sta
bilization of International exchanges and
other financial and economic subjects.
An informal and cordial discussion has
served to outline with greater precision the
nature of the problems. 1t has not been
the purpose of either of us to engage in
commitments binding our governments. but.
rather through development of fact, to
enable each country to act more effectively
in its own field.
1t is our joint purpose that the conference
for limitation of ornaments will not fail to
take advantage of the great opportunity
which presents itself and that it will be
capable of meeting what is in reality its
true mission. that is. the organization on
firm foundation of permanent peace.
In so far as intergovernmental obligations
are concerned. we recognize that prior to
the expiration of the Hoover year of post
ponement some agreement regarding them
may be necessary covering the period of
business depression. as to the terms and
conditions of which the two governments
make all reservations. The initiative in
this matter should be taken at an early
date by the E ropean powers principally
concerned within the framework of the
agreements existing prior to July |. 1881.
STUDY To Be CONTINUED
Our especial emphasis has been upon
the more important means through which
the efforts of our governments could be
exerted toward restoration of economic
stability and confidence. Particularly we
are convinced of the Importance of
monetary stability as an essential factor in
the restoration of normal economic life in
the world in which the maintenance of the
gold standard in France and the United
States will serve as a major influence.
1t is our intent to continue to study
methods for the maintenance of stability
in international exchanges.
While in the short time at our disposal
it has not been possible to formulate def
mite programs. we find that we view the
nature of these financial and economic
problems in the same light and that this
understanding on our part should serve to
pave the way for helpful action by our
respective governments.