SEVEN NATIONS DEFAULT

Hawera Star, Volume LIII, 17 June 1933, Page 5

SEVEN NATIONS DEFAULT

War Debt to America LESS THAN 8 PER CENT. PAID Offers Made By Others ' ADVANCES MADE IN SILVER. 132,000,000 DOLLARS OUTSTANDING. (United Press Association—By Electric Telegraph Copyright.} WASHINGTON, June 16. War debt payments to-day totalled less than eight per cent, of the total of 143,606,000 dollars due under the existing agreement. The sum received,’ as announced by the State Department, is 11,154,592 dollars, representing the token payments of Britain and Italy and payment in full by Finland. All the advances accepted are silver at the rate of fifty cents an ounce. , ~ Italy owed 13,545,000 dollars and paid a million; Finland owed and paid 148.592 dollars. , ~ , Offers to pay 180,000 dollars by Czechoslot akia and 25,000 dollars by Rumania have also been received, but no reply has yet been made to these nations. .. . , . _ ' ' Seven countries— Belgium, Esthoma, France, Hungary, Lithuania, lolantl and. Yugoslavia.—made neither payments nor oilers.' ■ Italy and Chechoslovakia asked for a debt review; Latvia .paid 60UQ dollars- on an instalment of 119,609 dollars due. SILVER LINING FOR BRITAIN. METAL FROM INDIA. LONDON, June 16. “The silver lining for Britain’s debt payment will be transferred from the Indian. Government’s reserve to the United States in order to increase the supply of silver coinage there,” says the financial editor of the ‘‘Daily telegraph.” “As the Indian Government will not replace the silver it lias sold no benefit will accrue to silver producers*. The prominence given to silver bv the British method of payment may increase speculation and raise the price, but unless the United States embarks on an extensive use of silver for coinage purposes the position will remain as before. FRENCH VIEW UNCHANGED. BOUND BY RESOLUTION. ; ■ PARIS, June 15. The Government’s note to America is brief. It recalls the previous notegiving reasons for deferring the debt payment and says these are unaltered. Cabinet is bound by the resolution oi the Chamber of Deputies in December. FINAL SETTLEMENT SOUGHT, FASCIST GRAND COUNCIL. -r Received-11.45 a-.m. to-day. - 1 ROME, June 16. The Fascist Grand Council insists on -negotiating with America for a final .settlement: of the war debts problem before December 15, when the instalment is due.