Evening star., 1933-01-24
Tariff Adjustments and Money
Sterilization to Be Made
Part of Debt Talks.
NEW YORKER FENDS OFF
INQUIRIES ABOUT CABINET
Selection of Secretary of State May
Result in Compromise, Omitting
Young, Walsh and Davis.
By the Associated press

WARM SPRINGS, Ga, January "a
Determined to put a new international
program into prompt motion, President
elect Roosevelt today began a series of
conferences on domestic and foreign
economies with Bernard M. Baruch,
financial authority of New York.
Mr. Roosevelt is ready to meet and
talk over separately with the foreign
powers their pleas for relief on war
debts, but he is going to exact in return
for aid in this direction a measure of
cooperation on his plans to restore
prosperity by tariff adjustments and
stabilization of currencies.
Baruch. stanch Democrat and also
man who has intimate knowledge Of
the world economic situation, is ex-
pected to give a helpful hand in the
preparation of the Roosevelt program.
Young Still Considered.
Meanwhile. after long talk with the
Senate Republican and Democratic lib
erals over some of his cabinet ideas,
there was belief here that Mr.. Roose-
welt was again looking about for the
Secretary of State who he is going to
use as his right-hand man in the for
eign negotiations.
Owen D. Young, New York flnancier
and an authority on the European
financial situation, which he once helped
to adjust in the settlement of German
reparations, is believed still in the run
ming. but with a new cloud of doubt.
The liberals strongly oppose him.
Because of the fact that the Presi-
dent-elect last night told newspaper
men no man prominently considered"
for the cabinet had been opposed by
the party Independents. there is some
speculation that he may be looking else
where than Young and Norman H.
Davis, present American expert in the
European problem.
Roosevelt Not Committed.
Senator Walsh of Montana is known
to have been suggested for the all-im-
portant post of Secretary of State by
some Of those who have opposed Young.
the President-elect has made no pro-
posal of Young for Secretary Of State,
nor has he indicated whom he would
take.
Nevertheless, those close to Mr..
Roosevelt have indicated very definite
feelings that it is q tug -of-war" be-
tween advocates of Young and Senator
Walsh and it Is logical that q COM
promise might be the answer.
With the foreign problem-debts and
economics-to be mst at the very outset
of the new administration in March.
1t is expected the Democratic leader
will want by his side an authority on
this subject.
Persistently questioned by newspaper
men about his plans for international
rehabilitation and his choices for the
cabinet, Mr. Roosevelt is smilingly fenc-
ing of his interrogAtors.
Before sailing from Jacksonville, Fla,
February 4 for.a Today fishing cruise,
the President-elect will 60 over his cabi-
net situation and politics in general
with his two aides. James A. Farley,
chairman of the National Committee,
and Louis M. Howe, personal friend.
Tomorrow Walker Hines, former head
Of the Federal Railway Administration,
will be here. Other economic experts.
perhaps including some of those in the
State Department most closely acquaint-
ed with the world situation, will be
among them.
Just how far the new administration
Is willing to 60 in extending relief on
the war debts is unknown. Mr.. Roose-
welt, who will do his own negotiating.
has given not the slightest hint Of his
plans
It can be said, however, that some of
those in his intimate council on this
question have discussed postponement
Of payments for the period of the de-
preston. There will be no cancellation.
That is certain and final.
Lump Sum Payments.
Talk of lump sum payments to wipe
out the whole vexing problem has been
heard in the Roosevelt councils also.
However, this has almost been discard
ed for two reasons. First, 1t Is not be-
lieved that the debtors are able to make
a lump sum payment that would be 20
garded adequate; second, 1t Is islftne
debts are lust obligations andtm be
kept on the books and t~ever wiped
out this country must get something In
His economic >pfogram definitely in
cludes tariff reciprocity. Above all,
he wants<6ut of the economic confer
ence agfeements for stabilization OF ex-
changes and treaties on tarin. Tne
tariff plan calls for no specific rates,
rather general agreement for lowering
of national tariff walls.
It was said at the Little White House
that several subjects would be talked
over with Mr. Baruch," who Is acting
chairman of the Emergency Railroad
Committee. Baruch said today this
committee, headed by the late Calvin
Coolidge, would hold meetings in Wash
iDpton IN FRIDAY SATURDAY. and Sunday
of this week with Government officers
and experts on railroads and then
would prepare a report.