U.S.A. DEBTS

Hokitika Guardian, 30 September 1932, Page 6

U.S.A. DEBTS

NO REDUCTION. , v VIEW OF SENATOR. (United Press Association—By Electric Telegraph—Copyright.) WASHINGTON, Sept. 28. Chairman Reed Smoot, of the powerful Sepa'te Finance Committee has made a statement regarding the financial problem facing the short session of Congress, which is stalling in December. He said he was confident thatno reduction °r cancellation of ..the war be allowed in this Congress hr W the next Congress, which lasts until 1935.

Ho said: Congress will not be influenced by any recommendation that may be made by the recently-formed .committee to study inter governmental debts. I think that American citizens should review the reductions already iri.de in these debts, and should not attempt to influence Congress to scale them down, or to wipe them out altogether.” • GERMAN DEBT. U.S.A. GRANTS”"POSTPONEMENT ~ WASHINGTON, September 28. Although the German-American Debt Agreement requires ninety days’ •notice for a postponement, the U.S.A. Treasury Department to-day announced that.the debt installment due from Germany on September 30th of 7,800,000 dollars will 'be postponed. Of this, 4,800,00(?' dollars, represents mixed claims, payable for two years at five per cent, interest, the remainder representing the costs of the American army of occupation for two and a half years at 3| per' cent interest.