THE WAR DEBTS

Hokitika Guardian, 30 July 1931, Page 5

THE WAR DEBTS

TO BRITAIN. OVER 1,15 S MILLIONS. (United Press Association —By Electric Tctegra ph.—Copyright. ) LONDON, July 29. Answering a question in the Douse of comnmi.s, ie fe a:ding Urn to.ms on nii.cn tiic ;Ulii d war debts to Great Britain had been funded, Mr Si.on den said the net amounts o'l debts at the date of funding was about £.1,230.0.10 UK), .exeiud.ng the war cie'ot of Belgium, for which debt, he said, the liability was assumed by Germany under the Treaty of Versailles, and excluding also the war debt of Russia, in regard to which no settlement had yet been reached. Mr Snowden added that ti e Ail ed war debts to Great Britain had been settled cn terms corresponding to the remission of -bout sixty-five per cent, of the debt, except in the case of Italy, in which case the remission was equivalent to eighty-six per cent. Mr Snowdon said that the amount received by Great Britain on account of the war det payments to date was £71,230,000, BRITISH MINISTERS VISIT TO BERLIN. BERLIN,, July. 28. ~. Mr MacDonald and Mr Henderson, this morning, met in conversation with Dr Bruening- 'and other- Germair Ministers, after which tliey vis teci President Hindenburg. They received an extremely cordial reception -wherever they have gone in Berlin. At a dinner, which Dr Bruening gave in honour of Mr MacDonald and Mr Hendei\son.last night-, .the Chancellor declared that Germany, would use her utmost strength to overcome the crisis, but must count oil the cooperation of other nations. Dr Bruen ing acknowledged the help afforded by Britain by her prompt acceptance of the Hoover Plan. Newspapers recall that Mr MacDonald is the flrst British Prime Min ister to pay ail official visit to Berlin' since Lord Beaconsfield attended the 1870 Congress there. Mr MacDonald and Mr Henderson discussed their visit to Germany w.th representatives of the press. Mr MacDonald said that the conversions were a continuation -of those begun at Chequers and were part ot the continued 'contact between the various nations, ’with the aim of removing the suspicion and misunderstanding still prevailing, so that there might be a revival of trade all over the-world, the establishment of financial stability and confidence, and r successful issue to the disarmament problem. GERMAN BANKS. BERLIN, July 28. President Hinilenburg’s latest decree postpones the normal resumption of banking to-morrow, until perhaps a week later. RUGBY, July 28. “The Times’’ states that leading banks in London have already followed - tlti' l redommendation.s of the London Conference, to maintain the volume of credits 'they have already extended to Germany, by informing tbpir customers in that country th°t the credits of which they hn-e already made Use, will 'not be withdrawn or reduced.'