The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-04-27

Ell Une QeOC SITUATION 10 insure
mic conference.
I 1t was explained that after
the conference, the debt mat
ter would be gone into in an
extended way.
Although debts have been dis
cussed at the international economic
conferences here, the White House
reiterated today that no agreements
nave been reached. In other words.
President Roosevelt is holding his
ace in the hole until later in the
game.
Inc White House said it was pos
slole that the President would send
TO congress resolutions asking
authority to deal with war debts and
tariffs. This would be done in ad-
vance of the economic conference
to facilitate negotiations. Just what
form the resolutions would take was
not indicated.
Tariff Truce Offered
simultaneously, the state DEPART
ment indicated that the United
States would be prepared to sign q.
tariff truce for the duration of the
economic conference, if one we're
proposed and agreed to by other
! powers.
This would peg the situation as it
stands and outlaw sudden boosts of
tariffs and import restrictions which
might otherwise be made for bar
gaming purposes in anticipation of
the world conference.
The tariff truce" was a prob
able subject Of discussion between
the French experts ACCOMPANYING
former Premier Herriot of France
and the American experts. who met
at the state department at IL
a. m. Tor further discussion of eco
nomic problems.
COnfers With Bennett
President Roosevelt, following the
debt announcement opened his eco
nomlc discussions with Prime Min
lister Bennett of Canada.
The two conferred alone. begin
ming at 11:20 a. m, after a brief
conference attended by the two ex-
ecutlYes and William Duncan Her
ridge, Canadian minister. State
secretary Cordell Hull and assistant
Secretary Moley.
Democratic senate leaders have
proposed that the imitation bill be
amended to permit the United
states to accept the entire June Is
debt lnstallments in silver.
This would be equivalent probably
10 a 80 per cent reduction in the
golo value of the payments due.
Ihat is because the debtors could
BUY silver at approximately So cents
an onunce, and turn it over to the
United States at the rate of so
cents.
The White House attitude toward
THIS proposal was not made known
Money Alliance Formed
Today's warning that the debt
payments would be expected as usu-
al followed reports emanating from
foreign sources that a moratorium
was expected from the United
States.
Anticipating an outbreak of pro-
test IN congress on this point. the
White House stepped in quickly to
smash any false hopes instantly.
Development of an Anglo French
monetary alliance aimed at keep
ing the British pound deprecated
and France on the gold standard
added to the significance of the eco
nomic conversations today.
High British financial circles be-
lieved that the proposed Anglo
French monetary alliance would
save the franc, keep France on
the gold standard, and insure the
maintenance Of the British pound
at a level of comfortable depreci-
alton compared to the American dol
/ lar.
The agreement, believed to be al
most completed after three days Of
feverish negotiation, was regarded
as the most effective possible coun-
terstroke against Americas aban-
donment OF the gold standard.
Spur Arms Discussions
If it succeeds in establishing
/ the dollar at the level it occupied
before the gold standard was aban-
doned, observers pointed out. all the
advantages both in foreign trade
and in bargaining position at the
world economic conference which
dollar depreciation might nave
/ given the Americans would be lost.
The plan amounts to an agee-
ment for the Bank of England to
lend the French government francs
purchased with its equalization fund
as a measure of exchange stabllza-
ton
Disarmament questions centered
abroad at Geneva. where Norman
/ Davis. American delegate, succeeded
in having the disarmament confer
ence seek arms reductions before
security pacts Indications at WASH
ington we're that France would
agree to arms limitations in return
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