The Washington times., 1933-04-22
DEBT PROBLEM
|SSHUNTEDT To
BACKGROUND
Great Britain and America
Expected to Take Leader
ship in Recovery
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ministration does not consider the
debts a major cause of the worlds
present economic plight, but mere
ly q small part of the general pic
ture.
ENJOYS Disagree
In this viewpoint, Hull is at
variance with most of the visit
ing ENJOYS.
There probably will be some
verbal battling on that point be-
fore the conversations are ended.
AS to the matter Of debt negoti'
alton with France, the Secretary
of state merely repeated his state.
ment of several weeks ago that
he could not say" at this time
whether the Administration Is pre-
pared to discuss debts with those
powers that are in default.
He declined to elaborate upon
the statement other than to say
that it is always the duty Of a
creditor to listen to debtor
but as for negotiating, that is
something else than listening.
Americas abandonment Of the
gold standard while Macdonald
was on the high seas rushed the
international money issue to the
forefront, and emphasized the
necessity of arriving at some basis
Of understanding if a spectacular
international trade war Is to be
avoided.
The adjustment of interna-
tional tariff barriers and removal
Of artificial trade restrictions
formed a natural corrollary to
the monetary question.
Revision of the worlds debts
to the United States was present,
too, but this time the foreign debt
problem as a whole occupied the
back seat instead Of the drivers
seat in an Anglo-American con-
ference.
Trade Chief Problem
The British Prime Minister
himself recognized this by OBJ
serving that the debt formed a
natural part of the international
landscape that would have to be
surveyed. But he did not en-
phasize it. Instead, he dwelt
most earnestly upon the neceS-
sity of restoring the flow of in
ternational trade. in something
approaching its former volume.
While no hard and fast bargain
can be made in the Roosevelt-Mac-
Donald conferences, the ground
work can be laid for action at the
world economic conference in
midsummer, to be attended by all
the nations of the world.
Anglo-American accord would
constitute a powerful impetus to-
ward a general international
agreement at that conference.
Discussions Begun
Mr.. Roosevelt and Mr.. MacDon.
aid began their discussions in
front of the White House fireside
last night, alone. Mrs. Roosevelt
took Miss Ishbel Macdonald, the
premier'S daughter, to a dog show,
leaving the men to their tobacco
and talk.
Premier MacDonald's visit was
stripped of all it's formalities to-
day, and the two arranged for
virtually continuous discussion
today and tomorrow on interna-
tional problems.
Early this morning arrange
ments were cancelled whereby
the British prime minister was
to have spent the forenoon in
a round Of purely formal calls
on Vice President Garner, Chief
Justice Hughes, Speaker Rainey,
and others.
Instead, Mr.. Macdonald rose
early, went to the British EN-
bassy for breakfast, and then re-
turned to the White House at
10 a. M, for several hours talk
with the President before making
a luncheon speech at the National
Press Club.
The official calls were cancelled
by the State Department because
officials, and presumably MacDon-
aid himself, felt they would take
up too much of the premier'S
relatively short time in which to
confer with the President.
River Cruise Tomorrow
Their exchanges will be resumed
early tomorrow, however, when
the President takes his guest on
q cruise far down the Potomac,
limited strictly to the RooseveltS
and the MacDonalds. The PreSi.
dent and the premier will be
alone for almost IL hours, save
for the immediate members Of
their families.
AAlAAA A~EA