AMERICAN HEWS.

Hokitika Guardian, 27 October 1921, Page 2

AMERICAN HEWS.

IUSTItAI.IAN AND N’.Z. CABLE ASSOOi..rIO.N ! HIGH FINANCE. - ! Received This Day at 5.30 a.nr.) . NEW YORK, Oct. 26 . -McKenna, speaking at a public linnet* at Chicago on international j ‘inatice said the United Kingdom had ! advanced the Allies and Dominions •ight billion dollars. Germany owes the United States four billion, leaving t nett credit to Britain of ten billions, equal to the amount the Allies owe the , I'nited States, and England is entitled to ten billions each front Germany. Personally lie favoured the cancellation of England’s half, as Germany can j pay only by exporting annually 650 millions more than she imports. In Geriuiftiy tlio workmen accepts almost j any wages to tinderwell the British and United States exports. Germany is | issuing paper marks wltic.lt is depress- j ing the external value of the mark and ! paying repatriations at the cost of the J British unemployed. “1 would rather : see our people employed producing I wealth than teeeive the dribble of I wealth from Germany tit the cost of j

iho British unemployment-, l negm xo doubt whether the payment of the repatriation is really beneficial to Britain, at any rate to this amount, or in this form, and whether the other war

debts due to Britain might not prove a curse, instead of blessing it paid. IN CONI! IIERS. ’* TTIK TIMS’S ” RKRVICE. (Received This Day at S A 0 a.nO WASHINGTON. Oct. 25. The passage through the House n! , Bepiesentatives of a Bill creating a war debts commission hears out the view Mint the scope of the Conference must include the survey of the financial and economic conditions throughout the world "if much good is to he accomplished. It is now admitted that such questions must Ih* discussed and President Harding is determined to seettte tin* passage ol the Bill by the Senate to enable delegates to talk with full power and confidence. Though the scope will lx* widened there will he exclusion of purely European issues, hut where European issues on such matter as relations of Era nee and Germany are so widespreading in their influence for goad or evil, they w ill not be avoided.