News of the Week
ALL hope of progress in the matter of the debts is banished by the anachronisms of the American Constitution. Mr. Hoover, realizing that the time between now and June (when another payment falls due) is none too long for the discussions necessary, is still endeavouring to get something started now. Congress will not co-operate. Nor will Mr. Roosevelt, by no means anxious to thrust his hand into a bed of nettles before he need. , That leaves nothing open to the outgoing President but to set up some extra-Parliamentary commission to begin some kind of negotiations with those nations which have paid their December instalment. If that course is followed it mill put this country in a difficult position, for an invitation to a discussion will be bard to refuse and extremely awkward to accept, since nothing the American negotiators may say or do will bind the only people that matter, the new Congress and the new President. Mr. Hoover's last Note is an able and reasonable document. It may do something for the education of the American people in the effects of the War debts deadlock on world prosperity and their own share in it. The new discussions the President seems to desire might carry that process further. But it seems very little usc to attempt anything before March, when negotiations with a responsible administration can be begun. They will not be ended by the time the June payment is due, but the postpone- ment of the June payment, by agreement or without -it, is certain in any case. - * *
