Evening star., 1932-11-14
Debts at the White House.

together dramatic gesture, President
Hoover has invited President-elect
Roosevelt to confer at the White House
regarding the problem Of intergovern-
mental debts. If Gov. Roosevelt ac-
cepts. and as to that there can be lit
lie doubt, the conference may take
place this week. It would be without
parallel In presidential history, but is
none the less wholesome on that ac-
count.
Great Britain and France having for
raslly requested immediate negotiations
with the United States relative to post
ponenent of their respective debt pay
ments due December Is, President
Hoover rightfully reminds the Presi-
dent-elect that the consequences which
may how from that proposal, which
projects q review Of the entire debt
question, will inevitably extend beyond
the period Of the present adninistra-
ton. Gov. Roosevelt is therefore in
vited to pool his views with those Of
Mr.. Hoover and to bring to Washing
ton for that purpose ANY Democratic
congressional leaders or other advisers
you may wish"
The initiative seized by the President
does credit to his good sense and vim
dicates forthwith the sentiment voiced
In his election message Of congratula-
ton to his late antagonist, in which
Mr.. Hoover stressed his desire to join
IN common efforts" for national well
fare. Although both the British note
and the French memorandum, seeking
O moratorium on the principal and in
terest installments payable next month,
plead the urgency Of their economic
necessities, both governments must be
aware that this business cannot be
transacted overnight, as it were. The
Congress Of the United States, not the
executive branch Of the Government, is
the supreme arbiter Of the debts due
the American Treasury. The next Con-
gress win be politically different from
the existing House and Senate, but
party lines were not drawn year ago,
when, IN ratifying the 1891 Hoover
moratorium, Congress went almost
unanimously on record against any fur
ther reduction or revision of the
s11. 900. .o0o, 900 obligation which Europe
owes this country. "
That was the mood Of Congress at
the end Of 1891. 1t may not turn out
10 be its infieMble will today or SIX
months from today. The attitude of
Congress in particular may undergo a
change II 1t can be successfully estab-
hshed that further revision of the debts
would lie In the palpably demonstrable
interest of the American people. In
his communication to President-elect
Roosevelt President Hoover recalls
having publicly stated that while he
does not favor cancellation, I'VE should
be receptive to proposals from our debt
ors of tangible compensation in other
forms than direct payment in expan-
sion of markets for the products of our
labor and our farms" Then Mr.. Hoo
yer touches upon another phase Of The
debt question. "And have stated" he
reminds Gov. Roosevelt, that substan-
ton reduction Of world armament
which will relieve our own and world
burdens and dangers, has bearing
upon this question"
kA -, f,,e% .afo oI
doubtedly lies the only solution the
United States has to offer with respect
70 the problems raised by Europe's
claim for further debt leniency. If it
can be shown that such leniency is in
the indubitable interest Of the American
taxpayer-of the business man, the
worker and the farmer Congress is not
likely TO turn a deaf ear to European
petitions But the proof will have to
be indubitable. If Europe, in other words
would only respond to another exhibit
tion Of American generosity by main
tanning embargoes against sales of our
agricultural and industrial imports in
her various markets; if the money Eu-
rope saved by not paying the United
States were to be squandered on piling
up fresh military and naval armaments;
II, In short, the American taxpayer, to
whom the war debts are due, were to be
made the goat without compensatory
advantages for American trade abroad
and without tangible advancement OF
the twin causes Of peace and disarma-
nent, causes to which this people is
genuinely devoted, then Europe is
knocking at our door in vain.
President Hoover's invitation to his
successor In Office contains many al
lusions directed TO Europe as well as
TO Gov. Roosevelt. 1t plainly indicates
the lines along which Anglo French
and other negotiations at Washington
will have to proceed If they are to gel
anywhere. The Democratic party.
position on the debts may differ ir
details from that hitherto laid dowr
by President Hoover and now reaffirmec
IN the message to Gov. Roosevelt. But
essentially there is a unity OF attitude
In nutshell, that attitude is that tht
United States, entirely conscious o
the duty incumbent upon it to promote
world recovery. is prepared to do it
full part to that end as soon as it be
comes irrevocably certain that its owl
best interests are fully conserved il
9he process.