PART PAYMENT OF WAR DEBT

Hawera Star, Volume LIII, 15 June 1933, Page 5

PART PAYMENT OF WAR DEBT

BRITAIN. AWAITS AMERICAN REPLY TO OFFER

WASHINGTON HINTS OF SURPRISE FOR NATIONS

Acceptance Dependent on World Economic Parley

Currency Stabilisation and Lowering of Tariffs

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WASHINGTON, June 13. President Roosevelt will reply'on Wednesday to a British offer of a partial payment of the war debt instalment wi message that is expected to spring a surprise among: the company of nations. There is a basis for conviction here that the injection of the war debts question into the economic patlej has brought about a situation which has called for an American It is indicated in high quarters that a surprise will be contained in either message—the reply to the debts note or the accompanying document. The intention of President Roosevelt is to receive Britain’s proffered payment pending accomplishments by the conference on the stabilisation of currencies and a lowering of the world s tariff walls.

Carefully distinguishing between “receiving” and accepting Great Britain’s proffered partial war debt payment, President Roosevelt is expected to-take the sum offered wittl the distinct understanding that such action will not invalidate America’s claim to the unpaid remainder, according to authoritative word to-night as the President is prepared to reply to the formal British Note received by the State DepartAdministration circles to-night did not reflect the optimism of London'press reports that the British offer of a partial payment as indicated in the Note delivered at White House would be immediately acceptable. There is some feeling that the question nevertheless is rapidly approaching the condition of a mutually acceptable settlement. _ Political considerations, meanwhile, obviously are dictating President Roosevelt’s cautious direction of the matter “If Mr Roosevelt accepts the token payment ot £2,OOO,UUU it will be an act of courageous statesmanship, strengthening his prestige as a leader,” says ‘The Times, accoiding to a London message. “His aid will enable the whole question ot debts to be settled. It,would be an outrage on justice if Britain were compelled for half a century to find an enormous tribute for America while Germany went free. The arrangement must, be such as does not require Britain to pay without receiving payment.” The “News-Chronicle” describes the token payment as an excellent bargain in “buying, time.”