The Waterbury Democrat., 1931-06-23
Will Congress Back
 Up The President
(Continued from Page 1.)

MT Hoover's intervention in the Eu- l ropean crisis.
 1 The last few days have been a period of intense strain on the high CT officials here. They held innumer- able conversations personally and by long distance telephone, working with great secrecy lest some indis- erect slip should upset the delicate balance of the situation. To gain greater secrecy, it is said, the state department suspended for some | messages it's practice of distributing them in duplicate among higher of- ficials of the department of impor- tant communications only one copy was made, that for the personal in- | spection of Secretary of State Henry l.. Stimson.
 The outburst of approval from abroad, from many influential citi- zens at home, in the press, and the buoyant upward spurt of the mar kets brought cheer and renewed courage here. Secretary of State Stimson and Undersecretary of Treasury Mills showed by their good humored talk that they saw success coming from their efforts.
 Judging by the action of the prin- cipal markets of the world, this ac- tion appears to be looked upon as a vital factor" Mills said. "If it turns the tide, this will be darned good investment for the U. S. treasury" The last sentence was a reference to the possibility that improved business conditions, if they result from the Hoover proposal, would bring in revenues to offset that lost through the suspension of debt pay mentS.
 The sudden rise in the cotton mar ket was one of the most gratifying signs to officials here. Carl Williams, acting chairman of the federal farm board, said he believed cotton and wheat would benefit from a mora torium. He believed decreased cot ton consumption in Europe is due to general depression there and that this would be overcome by release of funds hitherto used for repara- tions and debt payments.
 One phase of MT. Hoover's move which has caused some inquiry grows out of the relation of congress to 1 any change in the debt settlement. As MT. Hoover said in announcing his plan, it is subject to approval of congress.
 Congress will meet December z. The next debt payments to the Uni ted States are due December Is. In those eight days MT. Hoover hopes congress will put it's approval on his action, as he has reason to believe from the approval obtained informal ly from a number of members of both houses, and both parties.
 While technically the powers must take Mir Hoover's word that he can deliver the approval of con- gress, the prospect is remote that the head of the nation would be re- pudiated in such a transaction after other nations had taken momentous | United States.
 It is possible that tie-up in the house due to fight over the speak ership or dilatory tactics by a few senators might delay action beyond December 15. But even a brief de- lay of this kind would have no seri- ous consequences, it Is believed here. Congressional comment continues almost unanimously favorable. Chair man Shoot of the senate finance committee, who Sunday issued a statement enthusiastically approving President Hoover's proposal, added these words to-day:
 "I am not in favor of cancella- ton of the debts, nor do I think this is first step toward cancellation. l am, however, of the opinion that some of these debts will never be paid in full"
 Views of other senators and con- gressmen follow:
 Senator Moses, republican, New Hampshire-"I endorse the pres ident's proposal regarding the Euro pean debt situation as wise and helpful contribution to the solution of a worldwide problem. It also af- lords a test of the good faith of Eu- ropean governments"
 Senator Bingham. republican Connecticut-"The plan seems to me to meet the present economic needs of the world in the best possible manner. To be sure. 1t will cos, France $100, 100000 to agree 10 fl and 1t will cost us twice more than that much, but under all the cir cGmstances 1t was the wisest thing t0 do and it was done In such way as 10 win the confidence and suppor' of all the responsible elements 1T congress"
 Senator Wagner. democrat, New York--"t eheerfully endorsed the proposal of President Hoover ts postpone for one year payments of world war obligations, | am con, ndent it will go c long way toward l IA aA lnt Al fa