Evening star., 1932-11-27
BARGAIN ON DEBTS
INVOLVING TRADE
AND ARMS ADVISED
U. S. Chamber of Commerce
Committee Suggests Con-
cessions by Europe.
POLES AND CzECHS TOLD
PAYMENTS ARE EXPECTED
Notes Emphasize Anew Hoover's
Intention of Seeking Revival
of Commission.
By the Associated Press.

BY the Associated Press.
In almost identical notes, the State
Department yesterday told Poland ane
Czechoslovakia the United States coulo
not relieve them Of payments due De-
cennber is, but said "the President Is
prepared to recommend to Congress
that 1t constitute an agency to ex-
anime the whole subject" of war debts
simultaneously committee OF the
Chamber of Commerce Of the uniteo
States recommended that the American
Government grant its war debtors
modification" conditioned on trade
concessions and reduction in arna-
ment expenditures.
Containing many of the same Woros
and phases that appeared in the notes
sent previously to France, Belgium ano
Great Britain, the communications
transmitted through the Polish en-
bassy and the Czechoslovak Legation
ernphasized anew President hoover
Intention of seeking revival OF the
world war Foreign Debt Commission
or a similar body.
This position contrasts with tnat o.
Pres,dent-elect Roosevelt, who has de-
clared for handling through the regu-
lar diplomatic channels any DEBT nsgo-
tiations which may be necessary. con-
siderable opposition to Mr.. Hoover
nlan has materialized already on Capt.
tol Hill.
Congress Has Last Word.
In the notes to Poland and Czecho-
slovakia, signed by Acting Secretary
Castle, it was pointed out that the uiti-
mate decision in respect to debts Is
reserved to Congress.
As to the requested extension OF the
moratorium to cover the payment due
Decenber is. the communication sai1
"no authority lies within the executive
IA grant such an extension. and no
facts have been placed in our possession
which could be presented TO the Con-
press for favorable consideration.
AT the same time the President was
described as feeling that "for any sug-
rested study of intergoyernmental IMAM
cis,l oblisaticns as now existing, Come
sa,r.h agency" as the World War Foreign
Debt Commission should be created.
The notes expressed realization tnat
econcrlic conditions have increased the
weight Of debts in many pacts. OF tine
wcrld" but observed that these incl
dents Of the depression have also fallen
with great weight upon the american
people" and hence the effects which war
debt modification would have upon them
as taxpayers cannot be olsregaroeo.
Delay Possible for Czechs.
The payments due from Poland and
r.zechoslova<ia on December is are
"a 3o2 gao and $500, 900. respectively
THE payment of Czechoslovakia is all
on principal and might be postp one1
under existing agreements with tne
consent of the Treasury.
Poland would pay only S32,000 or
urfnciual. The remainder Of more than
1000 600 is for interest and cannot DC
postponed.
THE total amount of war debt pay
ments which fall due to this Govern
ment from 10 European powers Decem-
Der is is $123,64l. .693. Great Britain
the chief debtor, should pay $685.
0oo. of which s65, ,555, 900 is interest ano
is ncn-pcstponable; France, Sl9,26l,,
43s all interest, and Belgium, Interest
charges totaling $2,125, 600:
Italy win owe $1,245,437 on Interest
payraents and is the only debtor VIII
more than 81 100000 falling due whicf
has not requested an extension Of the
mora torium.
Esthon:a, Finland, Latvia and Lithu-
ania have payments varying from S92,'
600 to S245,Ooo maturing on Deem
ber Is.
Tine Chamber of Commerce report de-
scribed itself as presenting "a business
mans viewpoint as to what should d
the fair and wise course for the Unitec
states to follow with regard to debts
It was prepared by committee OF busl
mess leaders, including Melvin A. Tray,
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