MR LLOYD GEORGE.

Hokitika Guardian, 17 February 1923, Page 2

MR LLOYD GEORGE.

D KNOT NCI'S [.'RANCH. The following and all of Mr Llovd George articles, are copyright by Vniled Press in America and all countries, copyright- in Australasia by the Australian Press Copyright in Britain by the Daily Chronicle. (Reproduction in full or part prohibited). LONDON. February 15. T In his eighth arlTcle, Mr Lloyd • George writes:-—“A. cold shiver ra-n dim ii the back of England when it ivus announced officially that the British Government had definitely agreed in p:-.\ over thirty millions a year for sixty years to the United States in reM ,cr-t 1.. I In- debts ineiireil by Britain I'm- (he V Hies without seeking a contrihtution from our debtors to protect tho taxpayers of 11 1 is country. Our sources of wealth depend more largely than any other country on outside conditions. We are international providers. merchants and carriers. Therefore a ~) years’ contract to pay large sums across seas is more serious for us for countries with riches inherent in their soil. Continuous depression will mean that Britain will suffer morn from devastation of trade than France from her devastated provinces. We have the heaviest burden of taxation in flip world, because we not only have to pay our heavy war debts, but also interest in three thousand millions advanced to the Allies, or incurred on their behalf. Tf these debts never had l.eeii made, the weight would have Vieen lighter by eighteen pence or two shillings in the pound. It is a weight that we undertook to carry for the Allies on a sacred pledge that they would take them over after the war. The. American Government, borrowed from their public to make the advances to Britain and it has called upon the British to redeem their pledge. The British taxpayer naturally feels it hard not only to bear its own legitimate burdens, but to carry debts of less heavily taxed Continental brethren. Lord Balfour’s Note, which would have produced most beneficent results, met the same fate as the Versailles Treaty. It. was condemned by most people, because they did not trouble to understand it. Surely this is not the end ol the endeavours to reach a settlement of the Allied debts? I trust the Government will insist on an arrangement which, at least, will guarantee ns sixpence in the pound, which the. lAmcricnn instalments represent. A discouraging symptom is the reception of Mr Bon nr Law’s liberal offer at Paris. For the first time since tlie war. Britain lias been completely isolated at a European conference. That was a misfortune, for it encouraged the French Government to rash action. France hitherto, always tempted as she was to occupy the Ruhr, hesitated to do so in tlie face of formidable Allied i osist anee. Tf we point to the fact, that wo undertake to repay America, they simply shrug their shoulders and s,y'. in effect, “That is your affair. Ve will repay neither Britain nor America !’ M. Poincare also said in the Chamber of Deputies that Franco did not intend to pay until she received her share of the reparations. He says France is too busy collecting her own accounts to attend to the debt she owes.”