30,000,000 DEFICIT .sx Mr. Snowden on Budget Problems .sx FROM OUR PARLIAMENTARY REPRESENTATIVE .sx Mr. Snowden , the Chancellor of the Exchequer , made an important statement on the Hoover plan in the House of Commons yesterday .sx He pointed out that the proposals had raised a very difficult position in regard to the funded debt charge .sx Under that provision they had a fixed debt charge of 355,000,000 , which included the payment of 33,000,000 to the United States .sx They had paid one of the instalments to the United States , and obviously , if the debt charge remained what it was , carrying a provision in regard to the payment of American debt which they would not have to make , there would be a much larger sum which would go to the reduction of the other parts of the national debt than was provided for in the Budget originally .sx There would be a deficit of something like 30,000,000 accounted for by the 11,000,000 , the cost of extending the moratorium to the Dominions , and a balance of 19,000,000 would be the surplus we should not have to pay .sx " I am hoping , " Mr. Snowden said , " to hear every hour that a satisfactory settlement has been arrived at among the parties who are now negotiating in Paris .sx I have to say that the latest information is not very satisfactory .sx " The Government , the House of Commons , and I believe the whole country are quite willing to shoulder the sacrifices we have already declared our willingness to bear , but the Government will not be prepared to make further sacrifices unless other parties to Mr. Hoover's proposal are prepared to co-operate in these sacrifices .sx " ADVANCE IN TERMS OF OWNERS .sx NATIONAL REVIEW WHEN GUARANTEE ENDS .sx LANCASHIRE POLICY .sx CONTINUE THE 7 HOURS DAY .sx From Our Lobby Correspondent .sx THE result of prolonged negotiation yesterday between the Government and representatives of both sides in the mining industry was a definitely more hopeful situation .sx The Cabinet Coal Committee met the miners and the owners successively , and there was subsequently a long conference in the Prime Minister's room at the House of Commons between Ministers and the miners' executive .sx This discussion was adjourned until this afternoon , and it is considered there is a favourable prospect that the executive will be able to make an acceptable recommendation to the miners' delegate conference to-morrow .sx NEARER AGREEMENT .sx In the early stages of yesterday's proceedings a rather pessimistic view was taken by those in close touch with the negotiations , but a further concession on the part of the mineowners undoubtedly helped progress towards a settlement .sx The owners , while maintaining their decision that they could not enter into national negotiation on wages at the end of the guaranteed period , indicated that they would be willing to have the situation nationally reviewed .sx The subsequent discussion between the miners and the Government turned upon whether this was a sufficient advance towards the point of view of the Miners' Federation to enable them to recommend acceptance of the owners' terms .sx Various points arising out of the owners' amended terms were put forward by the miners' representatives , and it is probable that the Government , who are acting as inmediaries , will seek elucidation of these from the mineowners to-day .sx LEGISLATION DILEMMA .sx Contradictory Demands from the Districts .sx Confusing demands are being made to the miners' executive by the districts , some of which want the restoration of the 7-hour day and others a settlement on the best terms possible .sx Mr. John McGurk , president of the Lancashire and Cheshire Miners' Federation announced yesterday that a special conference of the federation had instructed their delegates to the National Miners' Conference in London this week to move the extension of the 7-hour day for a further period of the 18 months and the continuation of the November 1930 conditions and customs .sx The conference decided to give plenary power to their national delegates in the forthcoming discussions .sx " If this proposed concession of half an hour a day were supported by the other areas , " said Mr. McGurk , " it would settle the whole of the trouble in the coalfields .sx " The Council of the Yorkshire Miners' Association at Barnsley yesterday passed a resolution calling on the Government to honour its election pledge and restore the seven-hour day .sx The Council also condemned the Interim report of the Commission on Unemployment .sx The delegates of the Nothumberland Miners' Association at Newcastle yesterday decided by an overwhelming majority to give their representatives to to-morrow's conference powers to settle the questions in dispute on the best possible terms .sx CONSERVATIVES RESTATE INDIA POLICY .sx SAFEGUARD FOR ROUND TABLE CONFERENCE .sx 'MUST BE REAL AND PERMANENT .sx ' From Our Lobby Correspondent .sx THE most successful conference since the General Election in connection with the National Union of Conservative Association was the half-yearly meeting of the Central Council in London yesterday .sx The enthusiasm and fighting spirit displayed reflected the tonic effect of the party's recent electoral success in the North .sx The most important feature of the conference was the restatement in more vigorous and unmistakable terms of the party's policy in regard to India .sx A resolution was unanimously passed that before the Conservative party was again represented at the Round Table Conference they should receive a clear and definite assurance from the Government that the proposals for an Indian constitution were subject to the essential conditions that the safeguards must be both real and permanent , and that any resolution calculated to render possible complete independence was definitely outside the scope of discussion .sx BASIC CONDITIONS .sx Sir Samuel Hoare , M.P. , the principal Conservative delegate to the Round Table Conference , said while the resolution in no way dictated to the leader of the party , it emphasised the fundamental points in Mr. Baldwin's letter to the Prime Minister .sx He read the Premier's answer to Mr. Baldwin to mean that , generally speaking , he also accepted those conditions , but knowing the views of many of the Government supporters it was important for Conservatives to make it plain that those were the basic conditions without which they could not continue to take part in the Round Table deliberations .sx NEW MINES LAW NEXT WEEK .sx 7 Hour Day for a Year , Same Minimum , and No Spreadover .sx BY OUR LOBBY CORRESPONDENT .sx DESPITE strong opposition from Yorkshire and South Wales , the Miners' Delegate Conference yesterday , by an overwhelming majority , took the advice of their executive and accepted proposals to be legislate in a Government Bill .sx The text of the Government Bill issued yesterday , contains only two operative clauses providing that :sx - For one year , or until the ratification of the Geneva Convention ( whichever is the shorter period ) the seven-and-a-half hour day shall be continued , and also the wage rates in every district .sx In every district wages shall be regulated by a district agreement on the basis of a seven-and-a-half hour day .sx The spreadover is abolished .sx The Bill makes the wages agreement coterminous with the hours .sx This is what the miners asked for , and the Government have conceded it , in spite of the fact that they had hitherto resisted it on the ground that it would automatically date the next crisis .sx The Bill may be described as a truce for 12 months on existing conditions .sx The Bill will be given a second reading in the House of Commons on Monday and will be passed through all its remaining stages in both Houses on Tuesday , so as to receive the Royal Assent on Tuesday night .sx There is to be no party opposition to the Measure , but questions will be raised about the position in Scotland .sx The opposition of the coalowners to the Bill is not surprising in view of the fact that it definitely sets a time-limit to the continuance of the 7 hour day , and so merely postpones and economic settlement .sx Mr. A. J. Cook announcing the decision of the Miners' Conference , said a guarantee had been given the miners by the Government that , with the exception of Scotland and North Wales where minimum conditions have still to be arranged , the present minimum flat rates would continue to operate .sx A statement from the owners was placed before the miners' delegates .sx In this the owners said :sx " In addition to the question of the maintenance of wages , upon which an offer has already been communicated to the Government , the Mining Association has had under consideration the situation that would arise after the stabilisation period in those districts where agreements for longer periods do not already exist , and the objection that no provision was being made for dealing with it .sx " To meet this objection and for the sake of good relations with the Miners' Federation , the following formula has been prepared by the central committee of the Mining Association and forwarded with the covering letter to the miners' representatives :sx - " The Mining Association has no power to interfere with any district arrangements as to wages and conditions of employment .sx " The Mining Association is prepared to meet the Miners' Federation periodically ( say every three months ( to consider and discuss the economic conditions of the industry and all matters relevant thereto .sx For this purpose there should be set up a small joint committee of the two bodies .sx " Mr. Herbert Smith , the former president of the Federation , who was a delegate from Yorkshire , opposed the proposals in a strongly-worded speech , and said that Yorkshire demanded that the Government should implement its pledges to restore the seven-hour day and introduce a new minimum wage bill .sx He was followed by Mr. J. McGurk , of Lancashire , who on behalf of his district spoke in favour of accepting the owners' final terms .sx After a short adjournment for independent discussions by the district representatives , the conference re-assembled and a card vote was taken .sx This resulted in a rejection of the owners' terms and acceptance of the Government's proposals .sx The figures were 346,000 to 185,000 .sx PARIS AGREEMENT ON DEBTS HOLIDAY .sx U.S. GIVES WAY TO FRANCE .sx GERMAN PAYMENTS TO BE CONTINUED .sx GUARANTEE ISSUE .sx LAST WORD RESTS WITH MR. SNOWDEN .sx AGREEMENT was reached in Paris last night between France and America on President Hoover's plan for a war debts holiday .sx This announcement was made , says Reuter , when a meeting between Mr. Mellon ( Secretary of the United States Treasury ) with French Ministers ended at 12.30 this morning .sx A communique was issued stating that Mr. Mellon confirmed that the American Government had decided to accept the maintenance of the payment by Germany of the unconditional annuity provided for by the Young Plan .sx " Other divergencies of view had been smoothed out .sx Those which remained , and which are of lesser importance , will be submitted to a Ministerial Council to-morrow , " said the communique .sx It seems that agreement will very shortly be reached on the technical and financial part of the negotiations , with the reservation of the adherence of the other Powers' concerned .sx " It would seem that the French and American Governments virtually agreed on the whole problem .sx The American Government yielded in its opposition to the French guarantee fund demand to the extent that it leaves it to France to obtain the assent of the other Powers signatory of the Young Plan , and principally Great Britain to this technical and financial part of negotiations .sx If this is the correct construction of the communique the last word rests with Mr. Snowden .sx MYSTERY .sx The conference had opened in an atmosphere of mystery .sx No one knew what the position was .sx There were reports that eleventh-hour difficulties were being raised by the British Treasury .sx The one problem outstanding is that raised by the French objection to put up 25,000,000 next year as a guarantee deposit at the Bank for International Settlements if Germany obtains a moratorium under the Younger Plan .sx It is believed that the proposal was made during the day to the British Government to waive its claim on the part benefit on this deposit , the idea being that if Great Britain accepted the other Powers less interested would also accept and consequently , should a moratorium be granted to Germany next year .sx France would be absolved from the obligation of providing the 250,000,000 .sx The report last night was that Mr. Snowden had not seen his way to agree .sx It is understood that a condition of the agreement is that the signatories of the Young Plan must agree among themselves on the question of the guarantee fund .sx