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Show HIGHER U. S. TARIFFS OR STABILIZATION DESIRED ; . Namesakes Stage Clash Administration Sees On' Jwo Methods Open to !. Protect Markets eeae,esB -at - FOREICN MONEY 13 DOWN Americans Art Unable Meet Competition B takkM Frew) WASHINGTON, Jin. 14 In the fact ot impending duwuaalona of debt and economic with foreign debtor, nations, tlx Tlw waj expressed tod-y la Um highest administration eourcee that either American tariff nut be" raised or fonign curranclca atabU--ixed. . Thraa nation Finland, Latvia ami Ctecho-Slovakia now hava llM-n Into lina behind Great Britain ant, Italy In seeking and being grant.-i a discussion with tha nextadmmuuii-' lion of their dabt terma, ' In thaaa discussions. President." alact Roosevelt haa determined to put' thia nation' bargaining powar hue-Play hue-Play to gat trad advantage lor Una. country. t rrom quartan qualified to ipaala, th mind of President Hoover, there Craat Britain' An war to Dabt Confaranca Plan Raachaa Capital COPY SENT ROOSEVELT Haatad Debate Flaraa In San-ata San-ata Ovar laiua Br tmhM Fnal WASHINGTON. Jan. 15 While tampan rote In haatad aenate dabata on tha question, Great Britain 'a reply to America' granting ot soma request re-quest to discus war debt wai received re-ceived today and transmitted to Presidentelect Pres-identelect Roosevelt In Georgia. Sir Ronald Lindsay, th British ambassador, delivered the reply to Secretary StlmsoA. The text was withheld. with-held. In view of previous expression In London, however, It was taken for granted that the reply Indicated readiness read-iness to send representatives her In March. The senate rang with new setto between the two Robinsons th Arkansas Ar-kansas Democratic leader and the Indiana In-diana Republican over whether the president-elect, in view of the declaration decla-ration of congreae against revision or cancellation of the debts, had the right to discuss them with other nations. na-tions. The Indiana Robinson said he did not The Democratic leader and eev-eral eev-eral of hia party colleaguea aaid he did. There was an exchange of personal per-sonal references between the Robinson Robin-son before they finished, i SHOWS EESENTM EXT - Immediately afterward. Senator I Johnson (R, Cal.) expressed resent-. resent-. ment ovar British Chancellor Charo-' Charo-' berlain's statement on debt, i Th Callfornian said ha had no ob-i ob-i Jection to discussing debts with Great : Britain, but resented daily state-. state-. menta "that somebody is going to of-1 (Cenunee on hi. piva) Senator Robinson, Arkansas Senator Robinson, Indiana was word today that he felt t. a United State waa just beginning Uy feel the full effect of the deperture from the gild standsrd of Great BnU ain and other nations last year. A heavy Influx of foreign goods, sold more cheaply on the American market than they could be produced in thia country, was aatd to be nacee sitatlv either Units be raised, or ti e forthcoming world economic conference con-ference must meet soon and mora to ward a stabilisation of currencies. . rOSTPONXS AUESTIOM In Geneva today the preparatnrv commission for th world par r postponed th question of fixing s date for that meeting. -. Meenwhile, th senate foreign relations re-lations committee favorably reported th Borah bill to authorise llMunO-for llMunO-for expense of American participation participa-tion In the economic conferva President Hoover requested the nua. . Tariffs, currency, and th que. Uon of finding market for Amen.' can goods are likely to play an important im-portant part In th dabt discussions. A request for an opportunity to participate par-ticipate in these came today fronv. the Finnish minister and the Stale-department Stale-department waa Informed that trig Latvian minister would come to Wasikw ington tomorrow to make a aimiuw application. Finland owes $1,100,000 and Latvia.' S7.0O0.OO0. Indication already ha been given that all of the nations, such as Latvte,-Flnland Latvte,-Flnland and Csecho-Slovakia, that have not defaulted would be given-the given-the sunt opportunity for dieruasloer aa ha been accorded Gnat Britain and Italy. , WANTS STABILIZATION ' .. .. Th outline of Praaident Hoover's viewa described him aa feeling thai, when countries are not able to pay in cash on of th compensation they might give would be a atabiluut. Uon of their currency. , At Mr. Hoover's suggestion fliaf treasury recently Investigated th Increasing In-creasing Importation of product into' (Osntlaae so ee Wre . J. Higher Tariff or Stabilization Seen as Only Ways to Protect U. S. Trade Great Britain's Answer to Dtbt Conference Plan Reaohes Capital lOeaUaeed Frees Paae Osel fer 10 per cent or SO per cen to the United States." He asserted Chamberlain's statement state-ment that whatever la done at debt meeting with Mr. Roosevelt shall be a "final settlement" and not Involve Interruption of the agreement to cut German reparations waa an example of the British "superiority complex." Citing Chamberlain's conditions to any debt settlement aa cancellation or reduction or no Interference with the Lausanne reparations agreement, Johnson said; TALKS ON SETTLEMENT "The Lausanne settlement was Credicated upon the action of the nltrd States concerning debts due us. They took an obligation uncol-lectable uncol-lectable from Germany and of which we have nothing to do and with an appearance) of altruism they say they are enln in Torsive Rermanv and Administration Sees Only Two Methods Open to Protect Markets j (OeaUmed Press Pass One) the United State from nations that have abandoned the gold etandard. ' At beorings held by the customs bureau testimony was given that manufacturer man-ufacturer of rubber gaoled ehoea. earthenware. Christmea tree electric bulbs and other products were closing clos-ing their factories because of inability to meet cheap prices offered by foreign for-eign producers. Testimony was given thst Jspan'i export Into the United Ststes ot millions mil-lions of pslrs of rubber soled shoes, msde possible their sal in this country coun-try st leas than the material coils the American producer. Japan also has sent a huge volume of chesp rugs Into the United Ststes, it wss said, In addition to Joining European countries in sellins sardines and canned fish here al prices American produceri can nol meet collect only a small amount Then suddenly the lid blew off end w find that forgiving Germany was dependent upon the United States forgiving their debt. "That's the Laussnn agreement which ha been preised In no uncertain uncer-tain terms! That la cancellation by the United States of debts to the extent ex-tent thst they cancel reparation due from Germany." Johnson said he realized continuing statements that the United Ststes is going to receive this and that percentage per-centage ot the debts were made "without "with-out authority," but ha said he could not help resenting that the very suggestion sug-gestion should be made that w are bargaining or huckstering on It Britain Threatens U. S. Trade in Debt Demands By HERBERT MOORE (United Press Staff Cerrasaeal) LONDON, Jan. 25 Great Britain held the threat of deliberate depreciation deprecia-tion ot th pound sterling to throttle American imports over th United Suites government today, aa a weapon to support a prospective demand for cancellation of the British war debt Chancellor of the Exchequer Neville Ne-ville Chamberlain intimated for the first time, when he addressed the Leeds chamber of commerce last night that sterling might be deliberately de-liberately depreciated unless there waa a settlement before th next debt payment date, June It. Not only would United States Imports Im-ports here suffer from depreciation, but Britain would have the advantage over th United States in world markets. mar-kets. Chsmberlatn spok to a group of Mldlsnds businessmen assembled at Leeds, but hiremark obviously were addressed to th Americsn govern ment Th resumption of war debt payments, he said, would mean decreased de-creased purchases of American products, prod-ucts, either by depreciating currency or increasing tariffs. WANT CANCELLATION The chancellor made it clear that hi government would seek cancellation cancella-tion at th Washington conference. He aaid, however, that Britain would discuss debt "adjustment" with "our! American friends whenever they are ready to receive our representatives," and added that the debt readjustment must Involve a final settlement and not involve reopening of reparations If th British delegation proposes a lump sum payment such aa suggested sug-gested today by Italy, it was uncertain uncer-tain whether Chamberlain would ask that the sum not exceed Britain's shar of reparations set by the Lsu-ssnne Lsu-ssnne conference, approximately 150,-000,000 150,-000,000 pounds, or whether he would merely demand relief for Britain proportional pro-portional with that granted Germany. It was evident that Britain fully realised President Hoover and President-elect Roosevelt were anxious to get her bark on the gold standard at almost any cost The British were therefor shooting at America's weakest weak-est spot observer! here said, In talk-j ing of currency depreciation.' TO DRAFT REPLY I Th fact that th chancellor was known to have conferred with Prime Minister Ramsay MacDonald before making this speech qualified his remarks re-marks aa a preliminary reply to the United States' invitation to discuss war debts. A formal reply will be drafted by th cabinet The chancellor said that If debt payments were resumed Iney could not be made by loans or further ship menu of gold. "An effective mesns of payment would have to be found, and it could only be found by Increasing sale of forlgn goods to the United Slates, or what would com to the ssm thing, by diminishing purchases from America," Chamberlain said. "Increased sales might be effected by drastic reduction of the American tariff, or In th case of countries i oft th gold standard, by depreciation deprecia-tion of their currencies In terms of gold. Purchases could be Insured either by depreciating currency or ln- pressing Uriffs. against th United I States. "Now. I am pointing out what! would be the effect of resuming war' debt payments. I sm not using threats. I It you see a man walking along a precipice and point out to him that! the ground just in front of him is undermined, that ia not a threat "It ia a warning, and la none the! less friendly because It is evident that if the man goes over the precipice he is quite likely to drsg you down with! him." The chencellor outlined the terms' for a debt settlement for the first time. They were: A finsl settlement in th forthcoming Washington negotiations, ne-gotiations, and a settlement which must not Involve reopening of the repsrations question. Chamberlain said that the consequence conse-quence of resuming war debt payment pay-ment wa well known in th United States. He cited th recent resolution of the United States cotton exchange urging farmers to demand that the government negotiate for war debt adjustment to prevent the destruction of foreign buying power. Th chancellor admitted that the Lausanne settlement was provisional, but ssid It constituted the only substantial sub-stantial advance Europe has made In the past few yesrs. |