Evening star., 1933-01-28

GAatuus1ASM - SHOWn tnrOuSnOut the
country over the prospects Of q new
spirit of cooperation between the pres
ent and the incoming administrations
on the subject Of European debts. Great
Dement'S are predicted Commentator
Is general in relation to the method by
which President-elect Roosevelt is to
act through President Hoover and Sec
retary of State Stimson.
1T Is momentous news" SAYS the
Newark Evening News, with the feeling
that nothing SO constructive has come
out OF Washington since the morato-
rum, and 1t is exactly the sort of CO.
operation between the two national
leaders for which the whole world has
been anxious" That paper concludes
that no parley between two men in
modern times, not even the conversation
of Gen. Foch with the German armis-
tice envoy at Compeigne in 1918, has
had greater potentialities than Mr..
Hoover's agreement with Mr. Roosevelt y
The Buffalo Evening News observes
that "the worldwide reactions show
unmistakable encouragement; it is the
most distinct ray of hope that has been
enlightening the depression In many
weeks" The Dayton Daily News calls
the agreement "the most important
event Of many q week." and Is con-
vinced that 1T comes as . ray of light
upon q darkening world" The Lowell
Evening Leader emphasizes the point
that so far as foreign relations are
concerned there will be no break when
the new administration comes into
power"
ut may well be-" thinks the Kansas
City Star, that the move taken by the
President and the President elect tc
respond to Britain's request for q re-
consideration Of the debt settlemen,
will break the log jam that is holding
back world recovery. The debts ir
themselves are not so important The
important thing is that SO long as they
are unsettled there can be no effective
effort to stabilize British currency. or
which the currency of half the worlo
depends. So long as these currencies
are fluctuating, foreign trade is blocked
of to an extent that holds it far below
normal, even for the depression" The
Star adds that "the settlement Of the
debts In order to make possible the
stabilidng of currencies Is the first
essential to stimulating international
trade, which in turn is essential tc
world recovery" The Youngstown Vim.
dicator advises that "once the world
has assurance that the nations will co.
operate to settle their problems and
that sound methods of finance will pre-
vail over the inflationary schemes which
have everywhere undermined confidence
then the way will be prepared fol
recovery"
The Indianapolis Star remarks that
a solution seems to have been found
for the problem of bridging the interva
between administrations through unity
in q common patriotic purpose" anC
that "a clarified basis Of action Is 8
prime necessity" The Schenectady
Gazette lauds the services Of Secretary
Of State Stimson. declaring that he III
in Q splendid position to further thu
cause Of cooperation and to assure 9
smoothly functioning foreign policy
while the new Executive is taking oveI
control"
1.-THE war debts have produced tht
worldwide depression" according K
the Fort Worth Star-Telegram, mo-
necessarily because Of the none,
changing, but because diplomacy hal
talked itself into the tw1tters." Tit
Wall Street Journal finds it encour.
aging to feel ut Is Mr.. Roosevelt's in.
tention that, when he goes to Con.
gress, he is to have concrete propose
from the Nation whose debt Is to b
(or not to be- readjusted." The Hous'
ton Chronicle says there is 'heartenint
evidence Of q return to sanity in oul
consideration of world problems" ant
that "the President and his successor
are taking the only practical course lef
to restore some sense Of economii
reality to q befuddled world" tn,
Santa Monica Outlook advises that 9Th,
American people require Q greater ap
probation Of the difficulties confrontin,