DEBT PAYMENT MUST BE MADE

Hokitika Guardian, 9 December 1932, Page 5

DEBT PAYMENT

MUST BE MADE

POSSIBLE ADJUSTMENT LATERI.

;Fnited Press Association—By Electric

Telegraph—Copyright)

' NEW YOEfK,' December 7. The “New York Times” Washington correspondent says :—A reply from the United States to Britain’s war debt note has been completed by the United States secretary, Mr Stimson, to-night, for immediate delivery. Acj porting to authoritative indication, it gives the London authorities reason to hope that a debt re-adjustment can be arranged after the December 15 payment has been made. America s reply to the French will also shortly be made, and then responses to other nations.

A note was to-day received from Belgium asking for debt posponement. The United States secretary, Mr Stimson, handed the United States reply to the second British debt note, that asked for moratorium on the war debts to the British Ambassador here on Wednesday night. The contents have not been made public, but it seems likely that it will follow the tenor of the other recent United States Notes on the debt subject, to the effect that the December payments will be expected from the debtors; only that Mr Hoover i s to recommend to Congress the cre-ation of a Debt Commission, and that any alteration of the debt payments lies solely with Congress. There was a debate in the House of Representative's on Wednesday, which emphasised the Congressional opposition to a Debt Commission. FRENCH REFUSAL FEARED.

■ MATTER FOR THEIR HONOUR.”

WASHINGTON, December 7. A brief debate occurred upexpectedly in the United States House of Representatives, when, to-day, Mr Treadway, a member of the Ways and Means Comimttee, asked that the question of debt revision should be held over until the new administration comes into power with its changed personnel and control of Congress. He criticised France, saying: “There is an impression in this counry that it is not a question of expediency, with one party in power there. We are informed that the French Chamber of Depuies will not vote to authorise the payments. That is a matter for their own honour.”

Representative Fish advocated the revival cf the Debt Commission so as to declare that tile British settlement was toO high; h Representative Rhliiton said:—-'M would like to make it a penitentiary offence to lend France another dollar.”

BRITAIN TO PAY IN GOLD. LONDON, December 8. The ‘‘Morning Post” understands that the British Government have decided to pay the debt instalment on December 15th in gold. Arrangements for making the payment have been completed.