Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-04-20
WASHINGTON GETS |
WORLD ATTENTION.
Economic Picture Changed
as Macdonald and Herriot
Near U. S. Shores.
0y the Associated Press.

Dy the Associated Press.
World attention centered more than
eper on Washington today as two OF
Etirope's foremost statesmen approached
Americas shores for history-making
talks with President Roosevelt, who only
yesterday changed the whole economic
picture by Withdrawing support OF the
dollar on foreign exchanges.
g. Significance Attached.
New significance was attached to the
coming of Prime Minister Ramsay Mac
Donald OF Great Britain and former
Pixmier Edouard Herriot of France as
q result of the American action which
Secretary of the Treasury Woodin de-
scribed as taking the United States on
the gold standard.
The answer to the question OF how
soon and on what terms this country
might again adhere to revised inter-
national gold standard was believed by
many officials to be bound up in the
outcome of the quiet talks to be held
between the President and his distln-
gtished visitors in the next few days
Macdonald arrives tomorrow.
Few here professed to see all the
aspects and possible results OF Presl-
dent Roosevelts sudden move. out
among the effects was listed definite
step toward the re-establishment OF
gold standard to which national cur
rencies could be attached at new par,
tiles based on present conditions and
values. :,
From the White House came the word
that the dollar would be allowed to
find its own level internationally, since
this was seen in some quarters as a
necessary preliminary to establishment
of the dollar at a new parity eventually,
With the attitude Of the British and
French toward the new move not yet
clearly indicated, the President was in
a position to obtain their views and per
haps their cooperation through the
direct conversations soon to begin.
Currency Sterilization held prime
position among the matters to be dis
cussed with Macdonald. Herriot and the
DISTINGUISHED representatives OF nine
other nations who will follow in rapid
order. but all aspects of the world
economic plight were scheduled for con-
sideration.
Debt Reduction Seen.
In some quarters it was pointed out
that depreciation of the dollar IN terms
Of foreign exchanges apparently would
serve to reduce the war debt payment
due June Is, a point which the Presi-
dent would be able to make II his
British or French guests do the ex-
pected and bring up the controversial
matter of revision of these obligations.
On tariff matters, the President will
be without specific authority to con-
clude reciprocal agreements as the bill
which would give him this broad power
has not yet been sent to Capitol Hill.
There were indications today that the
administration was holding back lest the
additionally troublesome topic OF tarin
prove a new monkey wrench in the con-
gressional machinery at a time when
smooth action is greatly desired by the
White House.
Officials today advised against expect
ing hard and fast agreements to come
out of the approaching conversations
and indicated their greatest value might
be in the mapping of course OF gen.
eral agreement among the leading ma
lions to be represented at the World
Economic Conference in London June
is on currency sterilization, tarih and
other policies. No one knew, however.
how definite plans might be IN Mr..
Roosevelt's mind. He expects to do
lliOcl VI INC tanning 81 ioA 90 VIZ PASe
entation of the American viewpoint is
concerned.
Plans Capitol Representation.
The President plans to have the For
elm Affairs Committees of the House
and Senate come to the White House
next Tuesday to meet and talk with
Macdonald after dinner, and Herriot
also probably will be present. =.
A tentative schedule for the visit OF
the dignitaries provides numerous OPP
portunities for the President to talk
quietly and Informally with his guests,
the first Of whom. Macdonald, reaches
New York on the Berengaria tomorrow
and comes here by special train to stay
at the White House until the following
Wednesday.
. Herriot arrives Sunday and Prime
Minister Richard B. Bennett Of Canada
on Monday. Behind them are lined up
leading figures in statecraft of finance
of Italy, Germany, Japan, China, MeXi-
co. Argentina Brazil and Chile.