Evening star., 1933-01-29
PROSPECT Of DEBT
| SETTLEMENT ST|RS
| MARKET|NBR|T
Business Men Cheered by
| Roosevelt Offer to Talk
| Over Situation. :
| GERMAN TRADE SWAYED
| BY DOMESTIC POLITICS
French Are Hopeful That q. s.
May Grant Equal Debt Re-
vision to All Europeans.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 28.-Cables and
wireless dispatches to the Business
Week give the following survey of busi-
ness abroad for the week ending today:
London.-President-e Roosevelt's
oHer to talk over the war debt situation
has had a dominating influence on
British business this week, and it has
been good one. Markets were more
cheerful, sterling was boosted, COM
modify prices were firmer. Britain Is
prepared to act promptly. Macdonald
Is expected to head the British delega-
ton which will discuss the debt ques-
ton. And the biggest bargaining factor
Is expected to be return to gold by
Britain (and, automatically, by the
sterling bloc Of nations).
There has been increased confidence
in domestic circles ever since Britain's
declaration at Geneva that the country
would not return to gold until some
International agreement had been reach
ed on future monetary policy and the
removal Of restrictions in numerous
countries. The chance to talk with
Washington is soon expected to In.
fluence sentiment optimistically. 1t il
quite possible that major decisions will
have been reached by the time the
United States Congress is called into
special session shortly after the inaugu-
ration.
Money Supply Large.
THE new issue position is hopeful for
there is plenty Of money waiting for
investment The f2000,000 issue Of
Daily Mirror Newspapers debentures Of
fered January % was oversubscribed in
10 minutes. Not only is money lying
idle on low deposit rates at banks. but
last year the small savings that went
into national savings certificates show
ed an increase December bank deposits
made a record total of 1881 millions,
an increase Of f246 millions over De-
cember a year ago.
Berhn.-Another political battle IS on
in Germany. Fortunately, part Of II
is screened from the general public.
Enough of it, however, has taken place
in the open to have weakened public
confidence temporarily.
Stock markets were unsteady during
the week and the turnover much smaller
than in recent weeks. Executives are
nervous Industry is highly indignant
at continued talk of further protection
| for agriculture. Farmers reused the
anger even Of patient President Won
Hindenburg by claiming that the pres
ent government was treating them even
worse than any former "Marxist cab
met" Old President Hindenburg was
SO hurt personally by this that he broke
of relations with the Farmers Union
| and its leaders.
The December anti-seasonal expan-
sion of foreign trade, though moderate.
| is encouraging. So is the rise In the
December production indlces for coal,
steel and cement. There are more in
VII
much of an increase in actual orders.
| Hoarding has been declining for sew
eral weeks And with incoming Rus
sian gold. Germany has been helped in
meeting foreign payments. UnempIoy-
ment is no longer rising.
Paris-The problem of war debts has
again come to the front with the an
nouncement that the United States Is
willing to open new negotiations win
| the debtor countries which made tnelr
December IS payments. Though FRANCE
! is ranked the foremost defaulter, and
| therefore is not yet invited to discuss
| the problem, the French consider thems
| selves only technical and temporary der
| faulters. since officially, as yet, they
| have only deferred the last payment
and Paris Is not convinced that Eng
land will be. able to make any def1nlte
! decision at Washington without French
approval.
Unemployment Gains.
| Besides. the French trust the gentle
mems agreement" absolutely as means
J finally of forcing the United States to
grant equal reductions to all Europeans
without any determinations whatso-
ever.
| Though business in spots shows inn
provement. unemployment is increasing
at the rate of 10000 week and Is
already 80 per cent above the total for
| last year.