Daily News from New York, New York • 384

DAILY NEWS, TUESDAY, APRIL 25, 1933 8 British And American Experts Who Drafted Stabilization Plan liam Bullitt, Assistant Secretary of State; H. L. Chalk-ley, J. A. Barlow, MacDonald's secretary; Raymond Moley, Assistant Secretary of State; Senator Key Tinman, i Warburg.

Roosevelt financial advisor; Charles W. Taussig. Roosevelt advisor; A. K. Overton.

British Board of Trade; T. K. Bewly, British financial expert; Sir Robert Vansittart, British L'nder-Secretary of State; Wil- Thevr are the mm whoevolted the plan that gave President Roosevelt and Premier Maclonald "deep satisfaction" last night. to Herbert Fei. Sir Frederick I.eith Hons, chief Kritir.li economic advisor; James M.

ROOSEVELT STRIKES SNAG; "Damned if I am going to do it. I'm going to take my share of tha responsibilit HERRIOT BALKS ON DEBTS Senator Elmer Thomas author of the legislation, a statement that Attorney General Cummings is studying the constitutionality phase, and if he should decide that further restrictive language is necessary, Congress will consider it. Fletcher Pledges Support. Chairman Fletcher Fla.) (Continued from page S) (IkiEenTGGl) and Prime Minister had reviewed the substance of their discussions with deep satisfaction. Nothing in the shape of decisions has been reached.

It is obvious that no two nations ran deride what is to be done by a conference of fifty or sixty nations, and to try would be to wreck the meeting in advance. The subjects thus reviewed and discussed are the raising of world prices, central bank policies, monetary standards, exchange restrictions and the improvement of the price of silver. Washington Prime Minister Richard B. Bennett cf Canada will become the guest of President and Mrs. Roosevelt at the White House.

Bennett arrived today and made his formal call on the President. Herriot Pledges Monetary Support. Washington. D. April 24 (U.R).

France tonight pledged her Ira reducing the war debts an equal amount. In raisin? the debt question. Harriot a.te.l upon instructions of the present French Ministry, which came into power in repudiation of his Administration as Premier for nre-injr payment of the VJ million dollar France was due to pay the l-nited States last December. of the Banking Committee, who had opposed the gold clause along with two former Democratic Secretaries of the Treasury, Glass i Va.) and McAdoo (CaL). for-! mally announced he would support the entire inflation program because sufficient safeguards had Keeping Up With HOLLYWOOD FASHIONS Exchange Ratio Waits.

support to the revised agenda of the! been added by the committee. Hull Barred Debt Talk. Facing crowded galleries and a full attendance that dwindled per One of the chief planks in the long range policy whit I the experts have agreed on and which the President and Prime Minister ceptibly as the day wore the tall, silver-haired officially both approve is the stabilization started debate 'with declaration his inflation amendment to of exchange ratios, but that can-! that net be done immediately. Obviously the farm bill involved possible World hconomic Conference submitted by President Roosevelt which added bimetallism and ether measures to meet the situation resulting from America's abandonment of the gold standard. The proposal was advanced by Roosevelt tonight in a three-hour conference with former Premier Hdouard Herriot of France, and British and French economic experts.

The French stateman immediately pledged support of bis nation. Herriot returned to his hotel shortly before midnight and expressed complete satisfaction with the pound-dollar exchange cannot transfer of $200,000,000,000 from be fixed until it is known whether undeserving creditor to deserving the President will get ard exercise debtor classes, his powers to dyalue the dollar's citrn 8,1,... gold content and to what extent he will do it. Tydings. prodded by questions (Other picture, on page 1.) i ln? PP'tion leaaer.

fnor He pressed the matter notwith-j standing the fact that Secretary State Cordell Hull recently suggested the unwillingness of the administration discuss war debt reduction with defaulters. In raising this unwelcome question at the outset, the French envoy gave substance to the gossip that France is going to he the Mumbling block in the path of the projectors of the world economic conference. The French are reputed to su-fer-t that the British and Ameri-, cans have reached a secret un-derstanding which is designed to accentuate the isolation of France contrived by British diplomacy working hand in hand with Germany an. I Italy. 1 The French were further em-Vttered by America's desertion of the pohl standard thereby joining Britain and other depreciated cur- Tency countries and leaving France the only major power still on the gold basis his conversation during his two visits at the White House today.

s- --r During these discussions, it was IkTTU 1 1., miucnucu America had enjoyed a favorable trade balance against the world in the last thirty years, adding: "This inflation means a policy of isolation. This is a policy of America living unto herself. We are saying good -by to the rest of the world in the face of the fact that in the last thirty years we sold more by $36,000,000,000 to the world than it sold to us." learned. Roosevelt divided the topics to be canvassed in future conversations into separate groups. Thev include: Disarmament, se Inflation Row Splits Ranks Of Democrats (Continued from page t) world-wide currency stability.

curity, gold standard, stability of Tydings estimated inflation nonets and bimetalism. Roosevelt-Mac Donald Parley Cheers British. By JOHN STEELE. trm-xo Tribnna Pre- srM-el Washington, D. C.

April 24. This is the clause authorizing the would cause direct and indirect Chief Executive to reduce the gold unemployment for 22,000,000 peo content of the dollar. I pie ho would have to be sup Borah's doubt elicited from ported by the Government. Talked in French. I he British, to use their own The Franco-American conversation was carried on entirely in lenrh.

tlerriot speaks and understands Knglish imperfectly, while Roosevelt speaks French fluently phrase, "have their tails up tonight. The conversations between Franklin D. Roosevelt and Ram- 53 and they found they got on vastly say MacDonald and between their better in that language. (experts have gon. so unexpected- tin Wednesday when Prime Min- ly ell that they were able to an-Ister Maclionald departs from Enounce tonight that the President II Sale! Against that Rainy Day 1000 Gloria Umbrellas 1.49 I I 11 IK At least 20 smart t)les taken from a 1.95 "line" for this special event.

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