Imperial Valley press., 1933-06-13
SITUATION ON
DEBTS TENSE
Continued from Page u

Continued from Page u
RIGA, Pedro CoSio of Uruguay, Adam
Coo of Poland, Orestes Ferrara of
Cuba, and Sir Atul Chatterlee. of
the League of Nations. and Alex
andre Malinoff of Bulgaria.
British Confer
While Malinoff, former premier
of Bulgaria, was speaking, J. H.
Thomas, member of the British
cabinet, entered the hall. He
mounted the rostrum, bent down
TO Macdonald s side and they
talked earnestly, with their heads
close together. He obviously brought
news of some development in war
debts.
One of the important develop
mentS of the meeting was Japan IS
lining up solidly behind the RooSe-
veltian relation policies. 1t dem
onstrated that Ishii IS visit was the
most successful of all the represent
ativeS OF major powers to Washing
ton
Ishii heartily endorsed the sim
ultaneous tackling of currency and
trade barrier problems, and an in
ternational policy of liberal credit
and cheap money. Daladier proved
to have been won over only to the
Roosevelt public works policy and
otherwise is for deflation, while
Jung was definitely deflationary.
Malinoff pleaded for special con-
sideration for debtor countries. He
said Bulgaria planned to amend its
trade and foreign exchange restric-
tons, provided it does not upset
the country's internal well-being
The conference then adjourned
until 1920 a. m. tomorrow when
Chancellor Engelbert Dollfuss of
Austria will be the first speaker.
LONDON, June 13. U.P)-Repre-
sentativeS of three major world
powers, one smaller nation and a
British dominion outlined their eco
nomic aspira lions today before a
world economic conference which
was preoccupied over the significant
absence of the entire United States
delegation.
Secretary of State Cordell Hull,
head of the American negotiations,
had been scheduled to make the
first speech today Suddenly, with
out explanation, it was announced
he mad waived his valuable opening
time to Premier Edouard Daladier
of France. From then on, the dele
gates paid Scant attention to the
speakers.
The United Press understood
Britain's wal debt maneuvers caused
President Roosevelt to cable Hull
during the night, suggesting sew
eral alterations and Insertions in
his speech. The cable was not de-
! coded until this morning, just a
few minutes before Hull was to &c
| to the conference. Arrangements
were made for Hull to speak We'd
nesday afternoon, and the American
delegation remained at the hotel tC
help Hull redraft the speech, the
United Press was informed.
While Daladier, Guido Jung, fl
nance minister of Italy, Viscount
| Kikujiro Ishii of Japan, Gen. jar
| c. SHUTS of South Africa, and Pc
dro Cosio. finance minister of Uru-
quay, were speaking, Ramsay Mac
Donald, prime minister, presiding
as conference chairman, glanced
nervously at the empty desks of the
American delegation. He appeared
both worried and confused.
Macdonald injected the war debt
issue in the conference yesterday
despite the fact that it was not
part of the agenda, by declaring
economic restoration depended up
on settlement.
Many delegations were convinced
Hull was waiting for official an
nouncement of the British war debt
policy in the house of commons TO-
day before making his speech.
American sources said Hull de-
| layed his speech because the last
minute alterations made It impos-
sible to assure the wide publication
Washington desires.
IJNCll NiObNeebOSo 6AetAiSSN AASA
ously toward the empty American
benches, with war debts foremost
in every mind, Jung injected the
question into the conference discus
/ sion
These debts must at last fine
a final settlement" he asserted.
He said war debts should be
handled on the same plane as 9TH
err economic problems.
Cosio was the final speaker of
the morning session. The conference
adjourned until 3 p. m.
Daladier advanced sterilization
of currencies by a return to the
gold standard.
Jung spoke against economic is
olation.
General SHUTS said he would fear
n SCHOOL |