Evening star., 1932-11-15
Gov. Roosevelt Accepts.

IN a spirit that combines political
craftsmanship with patriotic statesman
ship, President Roosevelt has ac-
cepted President Hoover's invitation to
q conference at the White House on
the issues raised by Great Britain and
France in connection with war debts.
The Governor proposes that the conver-
Sations between himself and Mr. Hoo
yer shall be wholly informal and per-
sonal"
To that condition there can and will
be no objection, If from no other stand
point than that the President-elect is
almost, II not quite, still a private citi-
zen, and without constitutional author
ity OF any sort to enter into binding
commitments. That the meeting be-
tween the outgoing and the incoming
Chief Executives will nevertheless be
productive Of the utmost good is not
TO be questioned. Out Of their confab-
ulation is bound to emerge something
Of more permanent Importance than an
exchange Of views, however informal
and personal" 1t Is. Gov. Roosevelt is
deSirous Of having President Hoover's
ideas in hand when the President-elect
meets Democratic leaders at Warm
Springs later In November, and makes
the sensible suggestion that these lead
ers be invited to consultation with the
White House "at the earliest oppor-
tunity."
While the debts question is attracting
attention, citizens everywhere will do
well to examine the report just sub
mitted by the COMMITTEE for the
Reconsideration of Intergovernmental
Debts" headed by Alfred p. Sloan, jr,
president of the General Motors Cor
poration. The report is the fruit of
Nationwide survey Of public opinion
on the concrete issue Of what should
be done about the debts-whether they
should be collected in full, reduced or
cancelled.
After plumbing popular sentiment in
every stratum Of American society, the
committe recommends reconsideration
and revision OF the war debts by the
United States In such 3 manner "as
would. best advance the interests of
American trade and promote the pros
perity Of the American people" Re-
jecting complete cancellation IS
neither an economic necessity nor q
practical political possibility" the re-
port suggests extension Of the mora
torium, to give time for negotiations
looking toward readjustment OF the
whole debt structure. Such readjust-
ment, the report contends, Is made
necessary by the world situation as 1t
has developed since the funding Of the
debts. the reduced capacity to pay Of
the debtor nations, the direct economic
interests of the United States, and the
destructive consequences OF failure to
reach an understanding IN harmony
with the economic and financial factors
involved.
The report is indorsed by as repre-
sentative a group Of political, business,
farm, labor and economic leaders as
ever agreed upon a controversial public
Issue In this country. Republicans
like Nicholas Murray Butler, Frank O.
Lowden and George W. Wickersham
join with Democrats like John w.
Davis, James NJ. Cox and Alfred E.
Smith in approving the recommenda-
tons. Farm spokesmen like Henry A.
Wallace Of Iowa and Walter B. Mitchell
of Idaho align themselves in favor OF
the report with labor leaders like
President D. B. Robertson Of the
Brotherhood Of Locomotive Firemen
and Enginemen and President A. F
Whitney of the Brotherhood of Rail
road Trainmen. Captains of industry
like President Frederick B. Patterson of
the National Cash Register Co. and
Clarence NJ Woolley, chairman of the
board Of the American Radiator Co.,
head galaxy of commercial and finan-
cial leaders who recognize that in
Americas palpable self-interest the
debt question merits reconsideration.
There is much TO be said on both
sides Of that question. 1t will assist the
open-minded to study the Sloan report
before jumping to conclusions either
way.