The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-11-24
Formal Notes Sent Three
Nations Reject Plea for
PoStponement.
HOOVER PLAN BARRED
Roosevelt and Congress
Leaders Put Ban on
Commission Farley.
BY LYLE c. WILSON
United Press STAFF Correspondent


WASHINGTON, Nov. "a.
European powers were con-
fronted today with the choice
of paying their $124,000,000
war debt installment to the
United States on Dec. Is or
becoming defaulters.
The United States, in formal
notes to Great Britain, France, and
Belgium. rejected pleas, that the
payments be postponed pending
reconsideration of the debt prob
lem.
The notes we're dispatched after
congressional leaders, standing firm
against any revision or reduction of
the debts, rejected President Hoo
ver'S proposal that a commission be
created to consider the relation of
debts, disarmament and world eco
nomic problems.
ROOScNelt OppOSeS Move
President Elect Roosevelt joined
with house and senate leaders in
opposing Mr.. Hoover's proposal. In
a statement issued from his Geor-
giabound train he expressed belief
that any debt negotiations should
be conducted through ordinary
diplomatic channels.
He said sympathetic and thought
full consideration" should be given
any arguments advanced by debtor
nations.
The congressional conferees agreed
informally to one of the Hoover
proposals. They indicated they
would support the President, if, as
he suggested, circumstances made it
desirable for this country to accept
the Dec. is payments in foreign cur
rencies instead of actual gold.
Financial circles believed the plan
would prevent wide and perhaps in
furious fluctuations of foreign ex-
change when the payments are
made.
Little Progress Made
All agreed that, beyond the plan
to accept foreign currency, no agree
ment had been reached by the
White House conference which be-
gan Tuesday with meeting between
Mr.. Hoover and Governor Roosevelt,
and ended wednesday with the ses-
sion between the President and
senior Republican and Democratic
members Of the senate finance and
house ways and means commit
tees.
Congressional conferees uniform
ly took the position that the debtors
would pay Dec. Is. Secretary of
Treasury Ogden Mills was asked
point-blank, the United Press was
informed, whether Great Britain
would default if postponement were
refused. The secretary's response is
said to have been a doubtful:
I do not know"
Assured of Pay
But Democrats insisted the debt
or countries would pay on schedule.
They are understood to have re-
ceived assurance from Bernard M.
Baruch, New York financier, that
Dec. 10 installmentS would be met.
Baruch was luncheon guest Tues
day OF group of Democratic con-
greSsmen, including five of the
seven who conferred with Mr.. Hoo
yer on war debts.
Former Senator Walter E. Edge.
now United States ambassador to
France, also has informed former
colleagues that he could not con-
celve of circumstances under which
France would default next month.
The White House congressional
conference was foredoomed to fall
ure after Governor Roosevelt re-
FUSED to join Mr.. Hoover in a Joint
debt policy.
Speaker John N. Garner was
spokesman for the Democratic con-
gressional delegation after the con-
ference:
The congressman at the White
House convinced President Hoover
Garner said, that congress would
not consider at this time anv
agency to discuss debts"
In explaining why he limited the
refusal to consideration "at this
time, Garner explained he could
not predict the attitude of new con-
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