The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-12-12
HERRI0T DECLARES
MORATORIUM CAUSE
Of DEBTS TROUBLE
Tells Chamber of Deputies His
Government Plans to Pay
Instal|ment
SAYS FRANCE IS HIT HARD
Charges Lausanne Accord Add
ed to Value of Americans
Private Credit
SAYS FRANCE IS HIT HARD

Paris, Dec. 12.-(P-The debts mo-
ratorium which President Hoover de-
clared in 1881 is the cause Of all the
present troubles in which Americas
debtors are now involved, Premier
Herriot declared Monday in outlining
his debts policy before the chamber
of deputies.
This is my Interpretation Of the
Hoover moratorium" he said.
If the United States did not want
to concern itself with the problem OF
reparations, Hoover should not have
become involved in it. He should
have allowed Germany itself to ask
for the moratorium provided in the
Young plan."
These statements came In the
course Of an exposition of the history
of the debts issue.
The premier criticized other de-
partments of the American foreign
policy, beginning with the refusal OF
congress to approve the League OF
Nations as sponsored by President
Wilson.
'The United States" he said
never took its rightful place at the
table in the council of nations"
He insisted America became in.
volved in the PREPARATIONS problem
when 1t allowed Charles G. Dawes
and Owen D. Young to frame the
reparations plans which bear thei,
| names.
Proposes to Pay
Herriot told the chamber that his
government proposes to pay with re-
servations the $40, 00O, 900 debt install
ment due the U. s. next Thursday.
"As a matter of fact he continued
"the Hoover moratorium cost France
more than s16,5O0.OO0. It cost us our
title in the reparations.
Il especially want to make under
stood abroad, particularly in the U.
S., the disappointment Of France,
which, having listened to advice that
she collaborate in international re-
construction, on the day when she
asks even temporary benefit from her
collaboration, is met by doctrines
which are exactly contrary to those
on which the appeal was made for
help"
Deputy Jean Renaud interrupted.
"The conclusion Is" he called,
that we must not pay!"
The Hoover-Laval talk in Washing
ton last summer, he said, constituted
a new appeal for confidence and for
an end to the chaos in Europe.
Germany especially heard that ap-
peal" he declared, land demanded a
meeting of the consultative committee
provided for by the Young plan. The
experts met and recommended meas
ures for the restoration of confidence
to cover a period longer than the
crisis itself"
Badly Hit BY Crisis
France, which suffered cruelty
throughout the war, was badly hit by
the economic crisis, he said.
"She was proud enough not to ap-
peal for pity, but she did ask her citi-
zens to consent to heavy sacrifices"
Emphasizing the constructive char
acter of the French British agreement
to suspend French payments to Eng
land pending ratification or denuncia-
ton of the Lausanne accord, Premier
Herriot said. "the Lausanne accord
was favorable to the U. s. because 1t
increased by 100 per cent the value OF
Americans private credits"
He added that "the next step to
Lausanne is not only at Geneva but
also Is at Washington.
The premier, discussing possible So
lutions which he said must be worthy
Of French dignity, declared that arbi-
tration represented an interesting
suggestion. but that it would be i'm
possible for the present because 1t in
volved acceptance and compromise by
the French government with the
American congress.
Premier Herriot thereupon de-
clared he favored payment.