The Waterbury Democrat., 1932-07-09
Hoover Is Not
 Pleased At It
tcontinued from Page 1.)

with them singly about their war debts.
 This the state department is ready to do. so it said. But officials doubted that any agreement could be concluded before the presiden- tfal election.
 The likelihood of some tempo rary adjustments in allied debts was foreseen by President Hoover as long ago as last December when he asked congress to re-establish the World War debt funding com mission to consider debt adjust ments. Congress not only refused to do this, but in approving the Hoover moratorium oficially put itself on record as opposed to both cancellation and reduction.
 The president himself is opposed to cancellation or reduction, he says. He feels that as long as Eu- ropeaf1 countries spend hundreds of millions of dollars on armaments they can pay their debts.
 Furthermore. the administration has become convinced that Amer ican public opinion is opposed to sealing down the war debts.
 Thus not only the president and congress, but, if the administration Is correct, the American people will receive coldly any European pro- posal for a permanent reduction or debts.
 To give a temporary respite, when and if relief is asked by the European debtors, MT Hoover might do one of these things:
 il. Ask congress to extend the moratorium on all or part of the debts, using his own judgment as to what nations need relief.
 2. Again ask congress to set up the debt t-funding commission to de- termine for itself what relief, If any should be given.
 The "yardstick" of capacity to pay would determine the measure of relief needed.
 The present total of the war debts owed the United States is around $11,000,000,000. England owes about $4,U00, 100000. France about 5000, ,00p, 900, Italy about $1,OOO, 100000.
 The settlement of German repar- ations was cheerful news to the ad- ministration who were hopeful that the political atmosphere of Europe might be clarified. Officials believed that with the reparations burden frightened, Germany might be bet ter able to pay the several billion dollars of private American funds invested in that country.
 Senator Vandenburg, republican, Michigan, said the Lausanne agree ment was "a milestone in the jour ney to the economic recovery of Europe, but it is only going as far as we went immediately after the war in reducing our obligations. oppose cancellation or reduction although I would consider exten- sion of the moratorium If shown to be in good faith"
 Senator King, democrat. Utah. said he believed the agreement would aid economic recovery in Europe and curtafi Hitlerism.
 Senator Walsh, democrat. Mass achusetts, thought 1t would "help Europe but might make a serious problem for this country"
 Senator Johnson, republican California, determined foe of can. ceilation of the Hoover morator. ium, said the agreement means that the United States must pay the ultimate cost of the great war. He said congress was against can. cellation, but having 90 easily fooled congress once with the nor. atorium, 1t is probably. expected the same doubtful procedure may bt effective dgain,"
 They (Europe) will now try te get us to pay the biii," Senator smoot. republican, Utah, comment. cd.
 senator Norbeck. republican, South Dakota, viewed the agree ment as putting ''the problem ai. rectly up Co us. l never expected them to pay. You can't get blood from Q stone"
 Reprssentatlyvs Wood. rspubli. can, Indiana, declared Do was op. posed to Production of .aisother cent In the debts to the unzted States"
 Democratic Floor Leader natne, ln the house asseiled the edminis. tFatIen end accused PFoHide1' Hoover ef having Initiated eAneeh lation by hts moratorium. "TaN. payers sill will bear the burden, Kidney forecast.