BRITISH & FOREIGN NEWS

Hokitika Guardian, 29 January 1926, Page 2

BRITISH & FOREIGN NEWS

I,l’ TELEGRAPH —PRESS ASSN’., COPYRIGHT. THE AORANGI. SUVA, January 28. The Aorangi arrived to-dav from Vancouver. She sails for Auckland at six o’clock this evening. WHAT ITALY PAYS. LONDON, Jan. 27. All Anglo-Italinn Debt agreement has " been signed. It is officially announced that Italy pays Britain two millions sterling immediately. and pays four millions each vein- for’the next two years. She pays £4 250 000 for each ot the four following years. and £4,500,000 a 5™ thereafter until 3987. and pays £2,200,0L0 in 1988. , , ’[‘lie payments are to be made ha yearly. ANGLO-ITALIAN settlement V newspaper comment. (Received this day at 9.30 a.m.) LONDON. Jan. 28. The newspapers emphasise the sacri- ' lice made hy Britain under the Italian Debt Settlement. It is understood that France will be next. Mr Dourner is intending to c,i:ne to London as soon as the finanC'iai debate in the Chamber of De-

[miles is ended. The “Daily Telnil's’ diplomatic r correspondent says the justification the terms made with Italy Hex-til the fact that Italy receives so small a junta from the Gorman reparations; also Italy’s frequent hearty support of Britain’s European policy. The “Daily Chronicle” describes the settlement as fleecing John Bull. The “Morning Post” says it marks another stop in the unification of Europe It is too late now to repine that the policy of general debt cancellation has not been tarried into effect, though it must always he a matter for . regret. The “Times’ says since cancellation is not possible, the British policy has boon to cancel all except an amount equal to the sum paid to America. The “Times,” continuing, says: “However, we cannot obtain more than our debtors are able to remit without a strain ; otherwise, what \vc might gain in repayment, we should lose in trade owing to diversion of moneys from current purchases to the redemption of old purchases.” The “Financial Times” says Air Churchill wanted some relief from the burden of payment to America and accepted the first roflsoiiable figure suggested. the Treasury taking the view that a bird in the hand is worth two in the hush. The “Daily Herald” declares: “Once more the British Ministers have +' been taken in hy the foreign soli story. The interests of heavily taxed people have been sacrificed for a visionary political advantage.” THE POSITION EXPLAINED. (Received this day at 9.30 a.m.l LONDON, Jan. 29. The "Daily Express” explains that under the .settlement Italy in sixtytwo annuities pays Britain £512,500,in capital and interest in respect of her debt of £590.000,000, Britain foregoing seventy-eight' millions together with all interest on the remainder. The British Treasury had estimated that Italy was capable of ig eight to nine millions yearly. Italy’s gross debt at live per cent, represents seven peuee in Hie pound of Britan’s Income tax. Under the settlement Italy will reduce this burden hy one half-penny in the pound in .1920 and a penny in the pound at the period of Italy’s highest payments. In other words, the British taxpayers will continue to pav six pence in consequence of Hie debt iiiul the Italian taxpayer

one nenny. Meantime Italy has undertaken [iay the United States £4Bl ,(1(X),0,,0yn respect of her debt of 421) millioixi.. Britain is .paying America thirty-live millions yearly and if we receive four and a half millions from Italy, twelve and a half from Franco and ten millions under the Dawes scheme, we will still he eight millions annually to ilia had.

MR CHURCHILL’S NOTE (Received this day at 9.0 a.m.) LONDON. Jan. 27. The Hon "Winston Churchill (Chancellor of the Exchequer) has published a note explaining the Italian pay ments are separate from the reparations agreement. It includes a eluuso,,, that if Britain receives more from reparations, and al'ied debts, than Britain has already paid to the United States, Italy’s proportionate .share of those payments would be credited to future debt payments. The note asserts the Anglo-Italin.u settlement is more favourable than the Italo-Ameri-ivm. Mr Churchill describes the agreement as another milestone in European appeasement and consolidation. A REICH.STAG CLASH. BERLIN, Jan. 27. In opening the debate on the Uo-V vernment’s programme in the Reich* stag, the Centrist, Dr Feiirenbacli., and the Socialist, Herr .Muller, demanded that Germany enter the League of Nations without delay, and unconditionally. They agreed with the other parties' view that the promises ma le to Germany had not been fulfilled, but they declared that the Opposition to the fulfilment did not come from the statesmen, hut tram the military quarters in the Entente, oiling to the swurii-rattling of the German Nationalist press.

Count Westnrp i Leader of the German Nationalists) bitterly criticised Dr Stresemann’s policy, and remarked that the impossibility of carrying out the Dawes Rian was now generate ly recognised. JAIL PREMIER’S DEATH. TOKIO, January 27. The Premier, Baron Kalo, is dead.' RUGBY RADIO STATION. LONDON, Jan. 28. Private radios will be despatched from Rugby, capable nf reaching any ship anywhere in the world. This will reduce the Oxford station which is limited in range to three thousand miles. NEW ZEALANDER’S SUCCESS. v (Received this day at 11.0 a.m.) LONDON. January 2$ Doctor Cedric Hicks, who is going out to Adelaide in March to take up a Marks lectureship in applied physiology and a Sheridan Research Fellowship in .Medicine, lias had tlie degree of Doctor of. Philosophy conferred upon him by Cambridge. He is the first New Zealander to achieve this distinction. Dr Hicks is taking out a special colony of cancer animals as a gift to the Adelaide University from the Imperial Cancer Research Fund. CONE I HENCE DEMANDED. RERUN, Jan. 29. In the Reichstag in reply to an interruption from the Right, Dr Ltithor refused to give information regarding the negotiations between Germany and the Allies. He said the Reichstag must support and not merely tolerate him. Dr Luther demanded a positive vote of confidence. A vote will be taken on this to-morrow and confidence is expected to be accorded (lie Government.