ALLIES’ WAR DEBTS

Dominion, Volume 14, Issue 121, 15 February 1921, Page 5

ALLIES’ WAR DEBTS

PROPOSALS FOR CANCELLATION STATEMENT BY MR. HOUSTON By Telegraph—Press Association-Copyright. Washington, February 12. Mr. Houston, Secretary 4o the Treasury, informed the Senate Foreign Relations Committee that Britain on several occasions made advances to the United States with a view te- cancelling Britain’s debt to America. The first advances came during Hie Peace -Conference, and have been repeated since then, but the Treasury Department disapproved every time. France- sounded the United States concerning (the cancellation of the French de’bt to-the United States, but because the American attitude was unfavourable, France never definitely proposed the cancellation. —Ai<k.-N.Z. Cable Assn. [ln a recent speech Mr. Austen Chamberlain said he would have preferred that at the' end of the war the whole international debt of the- Allies and Associated Powers had been wiped off. enabling all to commence wilth a clean slate. There was no proposal for the settlement of ihe international debt among the Allies and Associated Powers, whether total or partial remission, io which Britain was. not prepared to he a party. We had made such proposals, but thev were not acceptable to America, and it 'would be beneath our dignity- to make them again ami render onr motives liable to misconception. Wo sought no internatvinril advantage for ourselves, but we had proposed a solution by which we should have forgone larger claims than would have 'been remitted 'to us. e proposed it in the interests of good relations among the peoples and for the restoration of international trade. Our great national deM was due io obligations undertaken in brimlf of our Allie*.]