Evening star., 1932-11-24
The Hoover Debts Program.

Not at all unsatisfactory Is the
opinion attributed - q responsible
ofIacial Of the British government yes
terday when the contents Of President
Hoover's statement ON the war debts
became known In London. On this day
Of national gratitude the American
people 60 further than Downing Streets
spokesman. They are in mood to give
unstinted thanks to their Chief Execu-
tive for setting forth the position Of the
United States IN terms Of Statesmanlike
sanity, which interpret the public
sentiment of this country, while reflect
ing due regard for the necessities and
rights of the debtor nations.
The Nation has cause. too. to be
gratifed by the attitude disclosed by
President-elect Roosevelt after his debts
conferences at the White House and
with Democratic leaders. President
Hoover proposes an exploring COM
mittec" or government agency. which
would receive and scrutinize the peril
nent claims of foreign governments to
debt modification. Gov. Roosevelt be-
lieves that "the most convenient and
effective contacts can be made through
the existing agencies and constituted
channels of diplomatic intercourse.
There is thus between the President
and the President-elect difference of
view as to method Of approach to the
question Of debt revision. 1t is vir-
tually the only difference between the
positions they have respectively now
taken up.
Disappointment no doubt win be ex-
perienced by Great Britain, France.
Belgium. Czechoslovakia and Poland
the five countries which have applied
for suspension of the December Is debt
payments-that the United States Gov
eminent disapproves Of their postpone
inent. It Is patent that there is no
public approval of that immediate form
Of leniency. either In or out Of Con-
gress. The American people find it
difhcult to believe that sums like
so. .o0o. .0o0-in the case of France, for
example-are beyond capacity to pay.
Even the vastly greater semi-annuity
due from Great Britain, sos, 200, ,000-
odd, constitutes . fragmentary per-
centage Of the British budget, to say
nothing Of the fact that the London
government Is authoritatively under
stood already to have accumulated
sufacient of q dollar balance in New
York to meet the obligation. 1t is seri-
ously to be doubted whether any of
the debtor nations which sought q
moratorium, would not considerably
have improved their case before the
bar OF American public opinion by ar
ranging to meet the December pay
ments without equivocation, and tackled
the revision proposition later. with a
clean slate.
AL that is water over the dam now.
Debtor Europe knows that neither post
ponement nor cancellation Is debatable,
as far as this country is concerned.
What Is debate5!e and President
Hoover and Gov. Roosevelt are a unit
in making that clears the question of
the debtor countries future paying
power. In the Presidents words. "it is
unthinkable that within the comfy of
nations and the maintenance Of inter
national good viii, our people should re-
fuse to discuss an important question in
which they and we both have vital
Interest. irrespective of what conclusions
might arise from such discussion"
Gov. Roosevelt declares that he firmly
believes in the principle that an individ-
ual debtor should at all times have ac-
cess to the creditor: that he should have
opportunity to lay facts and representa-
tiols before the creditor, and that the
creditor always should give courteous,
sympathetic and thoughtful considera-
ton to such facts ard representations.
Boiled down to the fewest possible
words, these past two fruitful days In
Washington have brought forth q war
debts program which can aptly be
thus summarized: Immediate payments
and early review. Europe can reasonably
expect no more. America can hardly do