The Waterbury Democrat., 1933-06-12
Atmosphere Not
Very Pleasing
Continued from Page -

were essential IL the conference
was to succeed, remained unac'
complished. European disarm-
ament seemed as far in the future
as ever; there had been no hint
from Washington that America
was willing to make concessions
on war debts which European ma
lions demand; many countries had
tcontinued to erect trade barriers
despite the tariff truce initiated by
President Roosevelt.
So dense was the atmosphere of
pessimism that authorities warned
the nations mot to expect too little
from the conference. At all OF
the previous 26 International con-
ferences since Versailles, authorl-
ties have warned the people not to
expect too much.
The American delegation headed
by Secretary of State Cordell Hull,
labored over schemes to hurry
through quick agreements on cur
rency sterilization and the lower
ering of tariff barriers, aware
that if the conference were a fail
ure President Roosevelt would be
given much of the blame. The
conference originally was projected
by the league of nations, but states
men did not feel the time was
ripe for it until Roosevelt soon
after his Inauguration. stepped into
the International economic picture
by inviting Prime Minister j. Ram
saw Macdonald and other states
men to Washington conversations
as a prelude to the world meeting.
The French delegation headed
by Premier Edouard Daladier and
made up entirely Of members OF
the cabinet, discussed before the
conference opened the official no
tice France will send to Washing
ton of default on the June Is war
debt payment, the United Press
learned. The notification is to
be sent from London.
At 10 Downing street, official
residence of~Premier Macdonald
the British position on the war
debt question received attention
before Macdonald went to the hall
where he will preside as chairman
and will speak Immediately after
King George. The British, 1t was
understood, intend to make either
a partial token" payment to avoid
technical default, or the full amount
in silver.
/ U. S. Tariffs
London, June 12.-(UP)-The
United States is prepared to con-
slider any method to reduce tariff
barriers, Secretary of State Cordell
Hull, head of the American delega-
ton to the world economic confer
ence, said to-day in his final pre-
conference meeting with the press.
Hull said there were four meth
DDS to attack tariff barriers: First.
a general revision; second, agree
ment for small, horizontal re-
duction as preliminary step to
general revision; third, regional
reductions; fourth, bilateral bar
gaining.
1T favor any or all Of these meth
ods," Hull said.
1.-THE United States delegation is
ready to go forward with its share
of the conference work with such
reasonable hopes as would ordin-
arily characterize movement OF
this magnitude" Hull declared.
Hull had received the report OF
George L. Harrison, governor OF
New York Federal Reserve bank,
on conferences with officials Of
| lUc Pdnh VI Gh6 anu 49,
Bank of France. It Is understood
the heads of the three most i'm
portant of the worlds central
banks discussed establishment of a
joint equalization fund to maintain
the stability of the dollar, pound.
and franc. Considerable progress
was understood to have been made
toward a sterilization agreement.
Roosevelt Stands Pat
| Washington, June 12.-(UP)-
President Roosevelt stood pat to-
day on his war debt policy of ex-
pecting payment from debtor ma
lions, as the deadline for settle
ment of the June installments mar
rowed to q scant three days.
Great Britain is expected to clar-
lify her position tomorrow. She
is due to pay $75,950,000. more
than half Of the total June Is,
instalment of $143.600.00s due
from all debtors.
In a previous communication
laid before President Roosevelt by
-, 80