Evening star., 1933-06-02
DEBT MORATORIUM
PLANNED BY REICH
TO PROTECT GOLD
CONTINUED PROM First PAGE

Continued From First Page)
our time from depression, hardships and
suffering"
The war debts to the United States
played part in the discussion, the
chancellor once again refusing to dis
close the British policy, intimating that
the government awaited new move
from Washington.
Sir Stafford declared the British
people would at one time have held
UP their hands In horror at the idea
of repudiating the American war debt,
but now they talk with complete equa-
nimity of not paying June 15."
The Labor spokesman complained
that IL days before payment was due
all the British government had to say
was that America was in full posses
sion of the British view.
Three Main Objectives.
He declared it would have been bet
ter weeks ago for the British to have
risked upsetting feelings in the United
States by firmly and decisively stating
the British view. An installment Of
SIS, ,950, 900 Is due June is.
Giving great emphasis to the neces-
sity of reyiving world trade, Chancellor
Chamberlain expressed the belief this
revival depended upon acceptance OF the
main objectives of the world parley.
He outlined these objectives thus:
First, raising the world price levels.
Second, currency understandings
leading eventually to restoration Of a
stable international money standard. :.
Necessity drives US all" he said.
"All of us realize that even now, after
the tremendous shrinkage of interna-
tional trade, which has not yet ceased
that unless we can put aside some
thing of our prejudices, unless each OF
us is prepared to give something in or
der to secure agreement, If, in short,
this conference fails to achieve its pur-
pose amid the expectations and hopes
of all the world, then, indeed, it would
be well that the conference never was
called and We might despair OF
emerging in our own time from depres-
sion, hardships and suffering, from
which we hope the conference may de-
liver Us"
Concerning the war debts, Mr. Cham
berlain said he feared that ANY word
Of mine, however inocuous its intention,
might be subject to misunderstanding
on the other side of the water"
He added he was not prepared to
take any risk of saying anything which
might, however, inadvertently prejudice
a satisfactory solution on a very deli
cate question"
I'VE should do well to assume our
difficulties are fully appreciated by the
United States Government" he contin-
ued, and there Is no desire on its part
to do anything which would emphasize
those difficulties or be prejudicial to the
success of the World Economic Confer
ence"
Declaring that Great Britain's ulti-
mate aim is to return to the gold
standard, the chancellor maintained
that ''as far as I am able to judge
there is only one standard which Is
familiar to everybody and which I think
inspires confidence provided certain
conditions are observed-it is, Of course,
the gold standard.
No Particular Time Suggested.
Before we can go back to any gold
standard-and am not now suggest
ing that we can go back at any par
ticular time-before we can go back
to any parity Of the gold standard we
must be satisfied that practical means
will be taken to insure that the gold
standard will work and viii not be sub
ject to those defects which brought it
Regarding tariffs. the chancellor said: !:
I'VE do not desire to make tariffs of
a prohibitiye character and we are
quite certain that the continual rails
ing of these walls, until they formed
no longer q check, but complete bar
to the passing Of trade over their tops,
was policy which has been injurious
not only to the countries against whom
these tariffs have been erected, but also
to those who tried to be self-suficient
within their own walls"
Chamberlain announced that Great
Britain will give no quarter in world
economic warfare to countries which
have taken an aggressive stand against
her.
Much as we regret the economic war
fare which has arisen between US and
other countries" he said, I'VE must
other countries have taken the aggres-
sive and are unwilling to make any
reparations or restitution for the wrong
they have done US"
Chamberlain's challenge was aimed
at Soviet Russia because Of the two-way
embargoes resulting from the trial in
Moscow of six British electrical engi-
neers recently, and at the Irish Free
State, because of a tariff warfare.
Great Britain must stand not merely
for the legal and commercial rights of
its people," the chancellor asserted,
but also for the right Of security for
their persons.
I'VE cannot view with indifference
the attacks upon our nationals IN other
countries when these attacks are clearly