The Washington times., 1933-04-13
ASSIGNED
BACK SEAT At
CONFERENCE
BY GEORGE r. HOLMES

The troublesome foreign debt
question is going to be relegated
to a seat far in the rear Of the
"Little Economic Conference"
which will hold the center Of the
stage in washington for the next
two months-if the Administra-
tion has its way.
Whether the Administration
will be successful in this under.
taking remains to be seen. Proba-
bly,, it is admitted, the issue can
not be avoided in one way or an
other.
SOft-PedaIing Planned
But all the plans now being laid
by Secretary of State Hull con-
template softpedaling the debts
and bearing down heavily upon
what the Administration con-
Siders of more Importance
tariffs, monetary Stabilization,
lifting artificial trade restrlc-
tions, and kindred matters.
Broadening of the scope Of the
conferences to include all the
countries of the world, Soviet
Russia alone excepted, contributes
to the non-debt character OF the
discussions.
AS now shaped up, every nation
with which the United States has
diplomatic relations has been
invited to make it's economic
views known to washington in
advance of the world economic
conference, which meets in Lon
don probably about July !.
The debt question has entered
freely into the conversations be-
tween Secretary Hull and Sir
Ronald Lindsay, the British Am
bassador, which have been in
progress here almost daily for
more than a month.
AS yet, however, the Admin
aStration has made no commit
ment about postponing the in
6tallment due on June IS. Con-
Nressional sanction would be
necessary to postpone the British
payment, and the Administration
Is loathe to ask Congress for this
authority at a time when heavy
sacrifices are being eXacted from
the American taxpayer in the
emergency domestic program
which Congress is slowly grinding
out.
Revival Put First
Secretary Hull has persistently
advanced the view that a revival
of international trade is Of more
Importance to the debtors than
the tightening Of their debts to
the United States. ,
, Given q resumption OF good
times" internationally speaking,
he contends there would be no
longer any question Of the
debtors capacity to pay such good
times, he believes, can be restored
by destroying some Of the barriers
to international trade which every
country has erected in the past
Il years.
There is no substantial disagree
ment between the British and
American viewpoints concerning
the desirability of tariff readjust-
ments. Britain'S embrace Of the
high protectionist policy has been
too recent and the results too
unsatisfactory to wed her ire
Vocably to high tariff protection.
The sticking point in the Hull
Lindsay conversations has been
I'D the debts, 90 British return
to the gold standard, and 90 the
rehabilitation Of silver on an
international basis. No substan-
tial agreement has been reached
On these important points.
Britain Plans to Pay
That Britain contemplates the
necessity of having to meet her
4une payment, amounting to
almost $100,OOO,00O is indicated
BY her steady purchase of gold in
recent weeks. Despite the warn
Ings consistently sounded from
London, the belief persists here
that Britain won't default" in
June, whatever the other debtors
do.
Acceptances from the nations
invited continue to trickle slowly
into the State Department today,
italy, Germany and Chile being
the latest.
= DR.. Hans Luther, the newly ar.
Uiving German ambassador will
represent the Reich.