Evening star., 1933-05-07
Italy Approves Proposal on
Tariff as Japan Indicates
Support-Argentina Favors
"Economic Disarming."
LUMP SUM SETTLEMENT
REPORTED ACCEPTABLE
French Newspaper Understands
Single Annuity Arrangement
Was Submitted by Washington.
Democratic Opposition to Reduc-
ton in Obligation Is Indicated.

PARIS, May 7 up. The
newspaper Petit Parisien said
today it understood a Washing
ton plan for a general adjust
ment of war debts had been
submitted to France.
The newspaper said 1t under
stood the plan provided for
cancellation of interest, with
a lump-sum settlement, the
principle payable in a single
annuity in three ways: One
third in gold, one third in GER
tificates to be issued imme-
diately and one-third in Ger
tificates to be issued later
through the Bank for 1nterna-
tional Settlements.
BY the Associated Press.
The Roosevelt drive for a tariff
truce among nations, pending the
world economic conference at
London next month, was carried
on vigorously yesterday, winning
the support Of two nations.
Guido Jung, Italys finance min
lister, joined President Roosevelt
here in a declaration that "a truce
in the field of tariff" is essential
to success of the conference. He
left early today for Boston to
sail for Italy.
In Toxic the japanese government
indicated its agreement to the truce,
subject to reservations.
Norman H. Davis, American Ambas-
sador at large received instructions to
remain in London to press the tariff
question instead of returning to the
disarmament conference at Geneva. A
powerful conservative element In the
British government Is apparently op-
posed.
Though tariffs were not mentioned,
a statement issued jointly by President
Roosevelt and Thomas lie Breton. spe-
cial Argentine envoy, referred to Isl
economic disarmament Of
the world" as imperative. and men
toned a "close similarity Of views and
Judgment" on ways and means to re-
store trade.
Debt Disagreement Reported.
Meanwhile the President and spokes-
men of the European debtors were said
to be in disagreement on the issue OF
war-debt relief. and what steps the
Chief Executive will recommend to
Congress remained highly problemati-
cal.
Even as this became known it de-
veloped that some Democratic Congress
SIGNAL leaders privately were voicing
opposition to any move by the
administration toward debt cancella-
ton, reduction or even q moratorium
during the fast-approaching London
economic conference.
The world parley will meet on June
IL. Payments Of s144.000,000 from
debtors are due on June IS.
From a source close to President
Roosevelt it was stated that the Chief
Executive is counting on at least a
partial payment on June IS Of the sums
due-if not the whole amount. This
was echoed on Capitol Hill.
A program Of world recovery encom-
passing arms reduction. a tariff truce,
a return to a gold standard. an inter-
national plan of public works building
and a world wide expansion of credit
was set forth by President Roosevelt
and Mr.. Jung as the upshot of four
days of intensive concentration upon
the worlds economic ills.
No Decision on Debts.
To reporters at the handsome stone
Italian embassy on Sixteenth street,
Jung said in answer to questions:
I'VE explored the debts problem
sympathetically and in q spirit Of
friendliness, each Of us setting forth the
point of view of his own government.
There was no agreement nor decision. "
Italy owes the United States about
$4,000, 100000, but enjoys the easiest
payment terms Of any major debtor
nation.
In a second joint statement at the
White House an American-Argentine
accord on world economic revival was
made known as a series of earnest
talks with DR.. lie Breton of the far
South American republic likewise drew
to close and the President turned to
CONTINUED on Page S, Column 2.)