Evening star., 1932-11-14

BY the Associated Press.
The French and British notes to the
American Government on the war debt
question follow in full text:
BRITISH EMBASSY,
Washington. D. c.,
November 10th, 1882.
1.-THE Honourable Henry L. Stimson,
Secretary Of State of the United States,
Washington, D. C.
"sir:
"It will be remembered that ON June
%, 1891, his majesty's government
In the United Kingdom, subscribed
ole-heartedly to the principle Of the
proposal made by the President Of the
United States on the preceding day
for the postponement during one year
of all payments on intergovernmental
debts. The object of this proposal, as
stated at the time, was to relieve the
pressure Of the difficulties resulting
from the fall In prices and lack of
confidence in economic and political
stability, and to assist in the re-estab-
hshment of confidence.
1.-THE hopes which were early raised
by the Presidents initiative have un-
fortunately not been realized, and the
economic troubles which it was de-
signed to alleviate have not come to an
end. Indeed, in October Of last year,
the communique published at wash
ington on the occasion OF M.
Laval's visit already recognized that
prior to the expiration of the Hoover
year some agreement on intergovern-
mental obligations may be necessary
covering the period of the business de-
preston. The initiative in this matter
should be taken early by the European
powers principally concerned within
the framework of the agreements exist
ing prior to July is, 1881 Today
many thoughtful men throughout the
world are convinced that If the depres-
sion Is to be overcome, further remedial
measures must be sought.
"It was in accordance with the recon-
mendation quoted above that in June
last the European creditor powers met
at Lausanne to agree on o lasting set
tlement of the problem created by inter-
governmental payments in respect of
repa1 ations. The series Of agreements
reached on July 8 aims at the ulti-
mate termination Of all reparations pay
ments. 1t represents the maximum
contribution in the field of intergov-
ernmental finance which the govern
ments concerned have so far been able
to make toward that early restoration
Of world prosperity in which the people
of the United States, no less than those
of the British commonwealth of ma
tions, have so deep an interest, and for
the achievement Of which the co-opera-
alton of the United States Is essential.
"On the nature of the remedial meas
ures that may have to be adopted it
is not proposed now to say more than
that, in the recent past, his majesty's
government in the United Kingdom
have frequently expressed their view,
and that neither in the realm of theory
nor in that of fact are they able to
find any reason for amending it.
"They believe that the regime Of
ntergovernmental financial obligations
as now existing must be reviewed
They are profoundly impressed with the
Of acting quickly; and they
earnestly hope that the United States
Government will see its way to enter
into an exchange Of views at the earliest
possible moment.
THE immediate objective Of the pres
ent note, however, is Of more limited
nature. On December IS the next
installment of the British war debt Is
due to be paid. It Is not possible to
FIVE weeks on matters of such vast scope
Confronted last Summer with a similar
difficulty, the conference Of Lausanne
found it necessary, in order to allow its
work TO proceed undisturbed, to re-
serve, during the period the confer
ence, the execution Of the payments due
to the participating powers. His
majesty's government In the United
Kingdom hope that similar procedure
may now be followed, and ask for q
Of the payments due from