The Waterbury Democrat., 1932-11-14
Ry JOsEPH H. RAIRD

0~%~N@~@ A8 @N~N-@~-~ United Press Stan Correspondenf)
 Washington, Nov 14-(UP)- The fate of Eur0pe's plea for war debt revision depended in large measure to-day on President-elect Roosevelt's answer to President Hoover's precedent shattering invi- tation to a White House confer ence.
 Great Britain and France put the debt reduction issue squarely up to this country in notes made public by the state department. They asked Fundamental revision of their $S,O0O,O00.OO obligation. Pending negotiations to this end, they requested delay on December 15 payments of nearly. $124,0O0,- 900.
 MT Hoover, speeding east from California, asked MT Roosevelt and his advisers to meet with him at the White House late this week.
 The president wants his success sor's ideas on war debts and other economic issues because. these questions are certain to carry over into theSRoosevelt administration. Any debt settlement will rest final- ly with the democratic congress.
 Confined at his Albany mansion by cold, the president-elect left the world guessing for the time being as to whether he would come here. -5
 The British French attack on the war debt structure was regar- ed by Mir Hoover as the opening wedge in a general campaign for reduction of Europe's $11,00O, 100000 debt to the United States.
 In a resolution adopted last De- cember congress enunciated re- sounding "No' to possible future requests for debt revision. Now the uuestion is: Shall MT Hoover ask congress to change it's mind. He said he wanted MT Roosevelt's ad- vice before drafting recommenda- lions.
 First congressional reaction was cold toward any further conces- sions to Europe. Senators Reed, Pennsylvania, and McNary, Ore- gon, republican leaders, said con- gross should stand firm on it's dec- iaration of last winter opposing debt reduction.
 Democrats were cautious in com menting pending disclosure of Governor Roosevelt's views. but enator Swanson, Virginia, ranking democrat on the foreign relations committed. said he believed con- gress would receive reductions pro- posals unfavorably.
 senator Walsh, democrat, Mon- tana,. said q special session should be called quickly if . decision was necessary before debt payments are due December Is.
 Jo 1nn nf vene until December 5. Represen- tative Ragon, democrat, Arkan- sas, proposed that the house ways and means committee investigate the capacity of European nations to meet reparations.
 Secretary of State Stimson re- fused to comment on the French and British notes pending MT Hoover's return. Sources close to the secretary said no indication of the American governments attt- tude could be given until Presi- dent-elect Roosevelt had spoken.
 It appeared likely that If MT Roosevelt agrees to come here, 9 large conference including sena- tors and representatives of both parties as well as the secretaries of treasury, state and perhaps commerce would be summoned to concentrate on the debt issue.
 Because of it's tremendous in- plications for both world econom- ic recovery and domestic politics. because of the aversion of congress to debt reduction, and because of the impending change of govern ment. the debt problem is particu- larly knotty at this time. Yet the
 Nf v1.l 1f m da- pend on quick solution.
 The gist of the British and French notes Is briefly this:
 MT Hoover last October, in the Hoover-L Laval cOnlmuriique, recog- nized that further adjustments m debt and reparations might be necessary. He advised Europe to put it's own house in order before ,sking favors of America. Europe did this at the Lausanne repara- tions conferences where 1t lifted Germany's burden.
 Europe believes world recovery now depends on debt reduction, that delay is costly, that America and Europe should discuss the debt structure. That pending the outcome, the December payments should remain in abeyance.
 The notes were not unexpected. Virtually all of the European deb- tors had indicated during recent months that they would ask for release from at least part of their $11,O00, GOO, ,00O burden. To avoid injecting the dynamic issue into 4 political campaign, however, they waited until after the elections.
 Tt will be remembered that on June 22nd, 1891, his majesty's gov- ernment in the United Kingdom subscribed who1eheartedly to the principle of the proposal made by the President of the United States on the preceding day for the post ponement during one year of all payments on inter-governmenta1 debts 7 The British note said.
 "The hopes which were early raised by the presidents initiative
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