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Hokitika Guardian, 17 November 1932, Page 4

Referring to the recent application made by Britain to United States, a northern writer says New Zealand is vitally interested in the outcome of the rl&newed negotiations between (treat Britain and the United States on the subject of War debts. Our position is that Britain has excused, us payments on our Funded War Debt to her while she enjoyed the benefit of the Hoover moratorium. Indeed sire has gone further by postponing our payments to her for another year, although she lias 1 yet to come to terms with America. Thus New Zealand does not have to make the half-year-ly payment of £825,C00 sterling for principal and interest due on December 1, although Britain’s much larger instalment payable to America on December 15 is still the subject of negotiation. Under the Funded Debt ■iogroemen’: Now Zealand has to pay Britain £1,650,000 sterling annually. If she were excused this, or most of it, the concession would make a trem'endous difference to the Budget and materially lighten the dondwoirV of unproductive debt charges. Certainly

it wouild seem to he Britain’s pokey to give the Dominions and foreign creditors the full benefit of any relief granted by the Unitedi States. New Zealand has already lost her interest in reparations hut she will have made a good bargain if, in giving up these payments, sh© is relieved of the Funded Debt. The .difference In her favour would be well over a million pounds annually.