Evening Star Newspaper, August 20, 1931, Page 3

1.5 HOLDS WEEH PLANIS PREMATURE Prefers to Await Full Bene- fits of Moratorium Before ' Weighing Debts. BY CONSTANTINE BROWN. Recommendation of the Wiggin Com. | mittee of Internation Bankers at Basel | that the nations of the world should reconsider the whole question of repa- | rations and debts is received here as an interesting suggestion from well in- tentioned bankers. The recommenda- tion itself is considered as having no practical value for the time being at Jeast. 3 The point of view of the adminis- tration, as expressed unofficially. is that it is premature to bring forth futile | discussions about reparations and debts as long as we cannot yet measure the full benefit to Germany of the inter- governmental debt holiday. The European situation is being close- 1y watched by the administration and for the time being it does not appear encouraging. Washington officials are inclined to minimize the British finan- clal crisis. Has Tremendous Reserve. | It is a budget crisis that troubles Britain, and responsible officials in | Washington who are closely in touch | with London are inclined to think the | British government will be able to put | its house in order by drastically cutting | national expenditure, by increasing taxes and by floating a relatively small internal loan. After all, it is said here, the tremendous reserve of wealth which the British nation has been agglomerat- ing in the last 50 years is still un- tounched and the British people have foreign investments amounting to some | £20,000,000,000. They could easily draw | on that reserve to save their budgetary situation Germany's situation, in the opinion of Government officials, is quite differ- ent. The national reserves of cash of Germany have been reduced to almost nothing and that country must meet its | budgetary difficulties out of csedits | which the powers have agreed not (0’ withdraw for the time being The confidence of the German peo-, ple in their ability to cope with the nt difficult situation has been, ywever, substantially enhanced since | the proclamation of the intergovern- mental debt holiday, and the adminis- | tration hopes nothing will happen in | the course of the next few months to | shake this confidence | It is hoped here that in the course | of the coming months some sort of a | litical agreement might be reached tween the French and the Germans, in which case the entire aspect of the German financial situation would change materially. Would Ald Final Liquidation. { Experience has shown that every | time American diplomacy has stepped into difficult situations in Europe and tried to show the way to a settlement, | Europe's reaction has been, “What will | you do for us if we settle our prob- jems?” This the administration wants to_avold henceforth. ERE are yesterday's victors Mitchell Park Playground. They Barbara Jean Fahr and Barber: Graciela Agular, Marry Ann Seigle and Dorothy Davis BORAH HINGES DEBT LONDON PINS DEBT ACTION ON TREATIES. CUT HOPES ON U. . Willing to Consider Cancella- tion When Europe Is Re- leased From Thralldom. By the Ascociated Press BOISE, Idaho. August 20.—Senator Willlam E. Borah said yesterday he is willing to consider cancellation of war debts, but not until Europe “is reieased from the thralldom of the peace trea- ties and armaments which they bring about.” The chairman of the Senate Foreign Affairs Committee in commenting on the Wiggin reports said any cancella- tion of international debts must be ac- companied by a real program of re- in the six classes of the doll show It 15 of course possible that once the | building Europe economically and po- CLOSE STUDY GVEN DEBTPLANE LS. Intimation Made That Wiggin{ Report Went Beyond Revision Question. | Bs the Associated Pres: Administration stlence stiil |today reactions of the Washington | Government to suggested solutions of ! Germany's economic plight put for- ward by the Wiggin Committee of In-! ternational Bankers. | High officials doubted any immediate ! occasion for a policy declaration by the Hoover administration would arise. | While the Wiggin report will be studied {closely, it wa3 intimated it has already disclosed ramifications even beyond the question of revision cf infersovern- mental debts which attracted first at- tention The Wiggin Committee has injected the question of private German debts sharply into discussion of the world de- | pression remedies. | Up to now relation of Germany to the world-wide economie crisis has been dealt with in international conferences and negotiations only from the aspect of intergovernmental debts, reparations | due from Germany and war debts due the United States. cloaked Comment Is Refused. Whether the report of the Wiggin Committee foreshadows some definite | efforts to work out a method of scaling down all of these German commitments, both public and private, or is to be taken merely as an advisory warning from the bankers, is not known in Washington. Comment on the commit- at the | tee report made in Basel was refused Harri Borjes, | 10 _governmental quarters left to right: |, No official even privately would at- | tempt to unravel the meaning of the suggestion of the Wiggin Commiti conclusions that the “snow ball of Ger- | | many’s foreign debts,” both public and private, must be checked as & step to- ward world economic recovery. From the immediate post-war days on. Wash- ington has sought to keep out of all but | one aspect of loans to Germany. financed by American banking groups Affirmatively, Washington has dis- countenanced any such loans as might directly or indirectly go toward expan- | slon of the armament burdens of Eu-| Tope. Otherwise it hes followed a hands-off policy, refusing specific a | proval or disapproval for loans not chal- lengeable on that ground The White House, particularly dur- ing the Coolidge administrations, de- clined to risk the possibility that Gov- ernment sanction of any loan might | be used to aid salesmanship of the| resulting securities to American inves- | tors. Fallure of the loan under such | circumstanees might have subjected the Government to criticism. As an {llustration of the scope of the private loan question raised by the Wig- | gin report, estimates of some authori- | tles as to the aggregate of German | | obligations under this heading run as| | high as $5,000,000,000. Of that, it has | | also_been said, upward of half was| ! placed in the United States, represented | by securities now held by the American investing public. Report Called Personal Views. are, seated, left to right a Putzki, and. standing —Star Staff Photo. Sees Change in Public Opin- ion, But Says America Must Take Initiative. By the Assoctated Press LONDON. August 20.—The initiative in revision of the war debts and repa- | rations schedules recommended by the Wiggin Committee. authoritative Brit- ish circles believe, must come from the United States America, it is contended, is the e tual repository of the war debts p ments and most of the reparations and Europe can do nothing until Washington leads the way. The British viewpoint remains as it always has been, that Great Britain Succeeds Bethlen COUNT KAROLYI, WHO WILL HEAD NEW GOVERNMENT. COUNT JULIUS KAROLYT, yesterday accepted from Admiral y, regent of Hungary, a mandate to form a new government succeeding that of Count Stefan Bethlen, who re- signed the same day after 10 years as premier. Count Bethlen was the dean of Europe’s government heads. Count Karolyl is 62 years old and a large landholder. —A. P. Photo, HUNGARIAN THRONE FOR OTTO IS SEEN AS BETHLEN FALLS (Continued Prom First Page.) holy crown reposes are believed to be in the hands of Count Karolyl him- self, or of his intimate friends. Count Karolyl is known as a moderate legiti- mist, perhaps willing to permit Haps- burg restoration As ordained by the Hapsburg law, one key must be held by the premier, on~ by the “keeper of the crown,” and one by the cardinal archbishop of Hun- gary. at present Cardinal Seredi. Count Bethlen through his possession of the key, which he has now presumably given up to Count Karolyl, was always con- sidered an obstacle to the return of Prince Otto Bethlen Out of Picture. Count Karolyl has approach to the second key because he was himself keeper of the crown until quite recently, when he became forelgn minister. The present keeper of the crown is Count Bela Czekomitcz, another ardent legiti- | mist, and one ot Count Karolyl's close friends Cardinal Seredi, holder of the third key, is s0 close to Count Karolyi It is also sald that Count Karolyi in- tends giving at least one partfolio to a prominent Hapsburg supporter like Prince Esterhazy or Prince Pallavicini, who heretofore have been excluded from direct participation in the Hungarian government. Hopes expressed in Liberal circles PARS SOETRACS REPORT ON DEBTS Cabinet Names League Dele- igates. Picks Envoy to Berlin | and Discusses Fleets. By the Associated Press, PARIS, August 20—The French | cabinet today chose delegates for the | League of Nations Council meeting, | appointed a new Ambassador to Ger- | many and discussed naval negotiations with Italy, but a communique issued after the meeting said nothing about amination of the Wiggin report on | reparations. | It had been expected that docu- | ment, announced at Basel yesterday, | would come under the close scrutiny of |the cabinet, but the communique said {only that Plerre Flandin, the finance | minister, had reported on the meeting | of financial experts at London re- centiy. As had been expected, President Doumer signed the decree appointing Andre Francois Poncet, undersecretary for_national economy. Ambassador to ‘l.hp, beginning of a new orlentation of | Central Europe. Count Bethlen and Signor Mussolini were intimate friends. The overwhelming growth of Prance to predominance in Europe made ‘Hungarn-nllun friendship difficuit.” \ OTTO LEAVES BELGIUM. Destination of Hungarian Prince Is Unannounced. BRUSSELS, Belgium, August 20 (#) Archduke Otto of Hungarv, who still is “His Majesty the Emperor” to his retainers at Steenockerzeel Castle, has left. Beigium for an unannounced’ des- tination, but those who remained be- hind. at the castle denled today that he intended to take advantage of the change of government in Hungary to regain the throne Only an aged tutor and governess stayed behind while all the members of 'the imperial family went abroad. Neither had authority to break the pledge of discretion imposed upon Otto’s household, but they intimated he would return next month to resume his studies at Louvain University. P22 INQUIRE ABOUT THE NEW QureT MAY wirouaric OIL BURNERN b o e v B COLUMBIA SPECIALTY CO. 1201 EYE N.W. Nat. 1458 financial problems of Europe have been | settled or are in a fair way of settle- ment, the administration would be | willing to help final liquidation of all the outstanding major problems, but o action can be expected from Wash- ington uniess preliminary agreement | between European powers can be reached. (Copyright, 1231.) | U.S.BORDER BAN | ASKED AT EL PASO. Men Urge Closing of Bridge to Juarez Every Night as | Business Titieally Otherwise, he declared, the peoples of Europe would not benefit, nor would American farmers and manufacturers who desire the reopening of foreign markets Europe Must Disarm. In a statement Senator Borah said 1 am perfectly willing to consider the cancellation of our war debts, but it must be in connection with and as a part of a real program of rebuilding Europe economically and politically “80 long as the peace treaties remain unrevised, Europe will continue to arm to the teeth. and so long as she con- tinues to arm there can be no economic | recovery. When Europe is ready to take the shackles off the brein and the energy of her people end give them a chance to come back. it will be worth { while to consider debts as a part of & Way to Improve Morals. | By the Associated Press | Two petitions from El Paso, Tex business organizations and business men | urging the closing of the El Paso-Ju ez Bridge from 6 pm. to 8 am. have | been received by the Treasury Depart- | ment ! The petitions said the situation in the | Mexican town of Juarez was having a bad effect on moral conditions on the ! American side and that legitimate busi- | ness could be transacted in daylight hours. They added that business was | suffering materally by keeping the bridge open until midnight. Assistant Secretary Lowman, whose office acts on such petitions, was out of the city today and was not expected back until Monday Lowman recently ordered other Rio Grande bridges closed at 9 o'clock each night after receiving commlaints similar 0 those of the El Paso groups. Sees Halifax as Air Base, HALIFAX, Novia P, —Igor Stkorsky, airplane predicted in an_intervie day that Halifax will be the base a regular transatlantic air service between Europe and North America within five years. Scotia, August 20 magnate, SPECIAL NOTICES. WEATHI STRIPPING, CALKING. ROOF epairs payments as I 5 per weex Lyons Constru ¢ WILL N ot 2 OT BE RESPONSIBLE er than ¢ CARPE remode! plaps furnished 1 WILL NOT bills contructed OWAR B NTER A ILDER s s low & PONEIBLE FOR e other than my- TCHER, 3308 Cedar ERE: ED ted fo INCLUDINC $3.50; re heating R HE 440, 1395 at Carreii's G GRANVILLE THAIRS _FOR BRIDGE PA ot LINES | and hip by STEEL VA whe. Quthil's TRANSPER & S1ORAGE 1313 Yoy Bt N.W__Phone North 334 Gefirgia Belle Peaches AT QUAINT ACRES Large crop, low prices Open datly from 4l 9 pm. Drve o . turn right on Colesy Oniy 5 miles from the Dis We Have Moved Pajions), Captta Press liar Printing Plant.” i3 now new home, Florida Ave. Third sod St KNE The National Capital s - 1 ¥ The Million its in it Press _Lia._seso Obain Bridge rosd betwoen Pairfax, Va. Chilcott Bros. Tel. Vienns 18. ROOF WORK any neture promptiy lnw {1 RoORE S Company | cancel another seven billions pending disaster program “We canceled $7,000,000.000 of Euro- pean debts under the assurance by bankers and men learned in economics and finance that European recovery would start at once. It has been get- ting worse ever since, and if we should it would not save Europe if other conditions are not met. Would Not Relieve Masses. “In other words, the cancelation of debts, without a Europe releaged from the thralldom of the peace treaties and the armaments which they b about, might help a few engage certain lines of securities, but bring relfef to the macses open any markets of permane to the American manufact “If this mext year nothing more than moratoriums debt discussion we will have pr serves incompetents in face of & d “We know trouble lies perfectly well wk and so does the Wi rommittee, and it is & waste of time present to the America people proposition of canceling debts und present European progran; FARM DEBT .STAY ASKED Colorado Governor Asks Re Avoid DENVER torjum or loans in Col Foreclosures, August 20 er relief on do has heen 1 Land Bank by Gov we are to avoid widespread s of farm homes made in a it of the chita, Kans. mor T Tece H. Adams foreclosur nd Bank at Wi ¥ did who sal nted to Flelds upon ashingtor GERMANY FIGHTS FILM American Picture, “Hell's Angels,” Held Defamatory. defamatory to there that it had showing of ground man promised ASK ARMS SALE CONTROL Order of Pol Handle Guns. N. J Fraternal Would Have Government ATLANTIC CITY. August 2 The Praternal Order of Police, in ston here yesterday, adopted resolu- tions advocating Government control of manufacture, sale and distribution of firearms as a means of curtailing Another resolution condemned fair the Wickersham Commission | relating to police third-degree methods and grafting by police. Edward J. Allen of Erie, Pa. was re- elected president of the organization. ». | Music was not always regarded as iighly as it is today, as witness the ad- vice of Lord Chesterfield in his famous “Letters to His Son,” wherein he states “Do not trouble to learn the fddle, when, by pa; money. YOu CAn procure | some one else to play it for you receives only as much in reparations as she nesds to pay her war debts and so longy es the debt obligations remain she Will not iake the initiative in urging cancellation or scaling down. New Hoover Plan Seen. It is believed possible that official and public opinion in the United States may come around to the British conclusion that the debt situation is retarding business recovery and that eventually there must be some change. A statement in the Daily Herald, which sometimes speaks for the govern. ment, that European diplomats are dis- cussing the possibilty of a new Hoover plan for revision of reparations and scaling down war debts has attracted wide attention here, but, so far as can be learned. it has no basis except in the realization that Washington must be _the source of any such mov The Herald said plans for an inter- national conference to consider the re- vision question and the scaling down of war debts would be laid when Secre- tary of State Stimson returns to Wash- ington There is a feeling in responsible quar ters here that public opinion in America i3 undergoing some change. Four months ago, it is contended, the popu- larity of Mr. Hoover's moratorium at home would have been doubtful, but when it was announced it was received in_America with wide acclaim. The Wiggin report and its impli tion, however, were of secondary im portance today, while the cabinet con- centrated its energies on the solution of the domestic budget problem. It was said that Arthur Henderson. the foreign minister, had not yet absorbed the report because of the demands made ipon his time by the budget situation PARLEY REPORT DENIED. Castle Describes London Story as In- teresting, But Untrue. the Associated Press Acting Secret State today denied a rep London plans for an international war debts and reparations would be d upon the return of Secretary Stim- from Europe The Acting Secretary described report as interesting, byt untrue HELM IS BE.ST SPELLER 1. Kelley, 70. B Castle that the G Is Second in Con- test at Mt. Pleasant Library. president of the 1z Club, last night ling bee sponsored monthly in the Mount Pleasant Library. Miss Elizabeth Dulin. of the All States Hotel, defending champion, was absent and relinquished claim to the silver D by default eorge 1. Kelley of 4501 Georgia ave- nue, 70-year-old contestant, was run- ner-up Elmer third be stagsd Wednesday in WHERE TO DINE. Hazelhurst Farm Road. 18th §t. N.E. Extended Chicken and Steak Dinners, $1.50 Chicken Waffle Dinner, $1.00 12 to 8:30 PM. Queens Chavel and Vegetables Prom Our Prepared Under Super- 5. McCiain of Renriement -Not & Road_House Reservations, Potomac 3474-W_ HERZOG’S Nationally Famous Restaurant Crab Soup Gumbo Curried Crab Flakes Hard Shell Crabs $1 .00 doz., to go Lobsters in All Styles Open Till 12 P.M. 11th and Potomac River Met, 9708 Phones i fed . ‘ M Far conference | in The only glimpse of official reaction to the Wiggin Committee report was | the note sounded at the State Depart- ment, reminding inquirers the bankers | spoke for themselves and not for gov- ernments. While the Wiggin study was favored at the London seven-power ton- | versations on the German financial and economic crisis attended by Secretaries { Stimson and Mellon, it has no official | status, but i« purely’ advisory in scope. | In the absence of any intimation of the attitude of the Hoover administra- | tion toward implications of debt and | | reparations revisiors made by the Wig- {®in report. previous declarations may be significant. In launching the one- year moratorium designed to tide over the German banking crisis of June- | July, President Hoover virtually para- | Phrased declarations of the Republican 'platform of 1928 on which he was ‘ elected. | The President then declared himself | unalterably opposed to debt cancela- jtion, but added that the United States | would not exact payments beyond the capacity of debtor nations to pay. Ger man reparations pavments were wholly {a European matter in which the Unite | | States had no share or part, %e added. ! | 1928 Platform Quoted. | 1928 Republican platform went further know of no authority which | would permit public officials acting as trustees, to shift the burden of the war | | from the shoulders of foreign taxpa. ers to those of our own people,” it saida In fact, Congress took the war deb | settlement matter wholly out of presi- |dential hands immediately after the | war. Even the deferred payment scheme | | involved in the moratorium suggested by Mr. ver awalts congressional | | sanction to become legally effectiv | | Under the circumstances the su | tions of i 1 Kiges- | the Wiggin Committee, ns far | a5 now understood in Washington, | would involve congressional initiative 80 | |far as eny pien of war debt revison might be involved | | “Bon Wogage'” FLOWERS A parting thought that always appreciated. Order Through ¥ 1407 H St. N.W. 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Nauional 0765 May Enter French Group., The chief politica] -result of the fall of Count Bethlen, who was the Doyen of Europgan premiers and who at, the height of his power had personal suzerainty over Hungary almost like that of Premier Benito Mussolini 4n Italy or Josef Stalin in the Soviet Union, 1s the apparent cCllapse of the Itslo-Hungarien alliance and the prob- able entance of Hungary into the French group of po This is greatly important for Central Europe. . It was Prance, in fact, which was responsible for Count Bethlen's crash it s said everywhere today. The Vien Extrablatt says “It is quite clear that the chanie from Count Bethlen to Count Karolyi is not a mere transfer of premigrs, but GULOENS N Mustard r 3 'Send Your du Pont TONTINE Window ¢ Shades to Us to Be WASHED! E maintain a modern “shade laundry equipped to wash one Tontine shade or. a thousand. 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Rev. ; + R the 3 naval technician. His ap- pointment was rogarded as an indi- cation that informal discussions with Italian 1 tatives regarding the | | 3 and Marie V. Hill. 34; n H. itine Brigpt: 16, snd Mary E. Tru- v C. K. P. Coxswell e A D3vig 24 this city. and Louy ¥, Draipard. 22. Brookirn: Judse Robert £ Abrabam Rosensweir. 33. and Sadie Can- tor. 30, both of Righmona, Rev. 1" faeh Merrill D._ Tice. s city. and Dorothy ;" Rev. Reul ., 31, Bverly. Tows 3. Richmond: Rev. iam R. Lake. 30. and Katie Coles. 27. both of New York City: Rav. Danjel % Soter B 38. ' Cincinnafl. Rovert B Brteman. 15, 3 waret Chandler. 36. N : | R wvert Naws: Yo naval problem will be resumed at Geneva. ‘The cabinet decided to send an offi- clal representation to Chicago for the 1933 exposition. M. Rollin, who dis- cussed the matter with Ambassador Charles G. Dawes when he latter was here recently, suggested that the French delegation be sent. 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