The midland journal. (Rising Sun, Md.) 1885-1947, 1932-12-02

Sir Ronald with an almost iden-
Lindsay tical request on be-
half of France, and
two days later Belgium asked the
same thing. The three powers asked
suspension of all war debt Install
ments, including those due December
IS, pending the outcome of the discus
sions suggested.
Receiving notice of this action while
on his way from California to Wash
ington, President Hoover Immediately
informed President Elect Roosevelt Of
the development and invited him to a
conference at the White House, sug-
gesting that he bring with him the
Democratic leaders of congress and
any other advisers he might select.
He told Governor Roosevelt he was
loath to proceed in-the matter with rec
concentrations to congress until he
had conferred with him, since any set
Element of the debt problem must be
the result of protracted negotiations
that would reach beyond the remain
Presidents plan seemed fair enough.
but Mr.. Roosevelt accepted it only sin
principle" saying he would be glad to
meet with Mr. Hoover and go over the
situation hut asking that the meeting
he wholly informal and personal"
He added that the European notes
create a responsibility (which rests up
on those now vested with executive
and legislative authority" Thus it
was made evident Governor Roosevelt
has no intention of shouldering any
responsibility ahead of time.
nNE thing that is fairly certain Is
~ that Eurore's concerted move for
revision of the war debts, and cancel
lation if possible will not be success
full with the short session of congress
that opens in December. Not one of
the senator's and representatives in
Washington was In favor of granting
the concessions asked, so the prospect
was that the debtor nations would
either have to pay the December In
stallments or default. The British in
stallment is 95, the French 20 millions,
and the Belgian two millions. 1t was
felt certain that Great Britain would
pay If necessary.
Governor Roosevelt. according to
Democratic leaders. is opposed to any
reduction of the debts; but he thinks
payment could be made easier through
an economic conference to free trade
channels of tariff barriers and ex-
change restrictions. President Hoover
is opposed to downward revision OF
the tariff, but has suggested that for
eign nations be given credit against
their obligations for any concessions
that would offer wider market for
American farm products and manufac-
lures.
CERAIANY'S interest in this debt
NJ matter is vital, for the drive OF
the allied nations for revision is
based on the Lausanne pact of last
July. This was "gentleman's agree
ments providing that the reparations
which Germany must pay the allies
should be reduced from $4,000, 100000.
as stipulated in the Young plan, to
$714,O00,O00 The reduction was not
to take effect unless the United States
could be prevailed upon to modify the
understanding under which the allied
powers are obligated to pay this
country.
The United States government has
consistently refused to link the war
debts with reparations. On the other
hand the Hoover administration has
repeatedly made it clear that its at
titude toward full payment of the
debts could be modified only by meas
urable success of the world disarma-
ment movement.
TRANCE, through Premier Herriot,
laid before the disarmament con-
ference in Geneva its complete plan
designed TO bring about general dis
armament and world
peace. 1t was well re- MS
ceiyed by the British.
and Norman Davis.
American representa-
tive. praised II as "a
great concession" so ~
hopes for the success
of the conference
were high. But they
were dashed when
Germany refused to
find In 1t reason for ''s' : e''''S's
rejoining the parley. M. Herriot
declaring the Herriot