BRITISH COMMENT

Hokitika Guardian, 14 December 1932, Page 5

BRITISH COMMENT

DEBT PAYMENT j OBLIGATIONS TO AMERICA. ! (British Official Wireless.) RUGBY, December 12. In written replies to Parliamentary questions, the Chancellor of the itxcnequer, Mr ,N. (AianiDerlain, gives details showing that Britain’s receipts . in war deb is amounted to 71.1 millions, and in reparations 121.2 millions, making ,a liotaii of 192.4 million .pounds. Her payments to tue United States for war debts amounted to 326.2 millions, exceeding receipts from war items and reparations by 133.8 millions. He says that if the British war debt to the United States had been from the outset settled on the same basis as the French war debts to the United States, the amount which the British Government had already paid would exceed tiie amount due until 1940. Similarly, if British war debts had. been settled on the basis of the Italian settlement, no further payment would be d!ue until 1955. If, however, past paymenlts were ignored, and future payments in respect of the actual capital debt now outstanding were made on the basis of the French settlement, the amount (payable by .Bri.ain on December 15th, would be twenty-two million instead of 95J million dollars.

Similarly, if the future payments were made on the basis of th© Italian settlement, the amount payable would be 2£ million instead of 95£ million dollars. Approximately twenty-nine per cent, of' the British debt to the United States would have been paid off by payments already made by Britain, if the settlement had been' on the 'same basis as either the French or Italian settlement. Under the existing settlement only four per cent, of the capital d>ebt had been repaid.

COMMONS TO DISCUS’S DEBTS. i FROM EVERY VIEWPOINT. RUGBY, December 12.. In response 'to a request by the Leader of the Opposition that a 'Government statement relative to the ■American debt payment be made, in the Commons, under conditions enabling the House to discuss it, Mr Baldwin announced that the Government had arranged! to devote Wednesday to a debate on this subject.' An appropriate statement would be made, probably by the Chancellor of the Exchequer. The Government would not put down a motion, and the House would have' a perfectly free debate, enabling a discussion from every view* point. The Prime Minister, reaching Loudon from Genova this afternoon, consulted his colleagues, among other matters on the American reply to the British ’ note. Cabinet will meet tomorrow, when the question whether a further communication be sent to the Unitd State's is expected to be considered.

BRITISH VIEW OF U.S NOTE.

LONDON,. December 13.

The “Morning Post’s” political writer says: The United States note is not regarded as raising a serious issue. It is expected that a British rep y will be accompanying the formal payment which will merely record the differing views of 'the Governments. H. HERRIOT’S DEFEAT EXPECTED (Received 11.50 a.ni.) PARIS, December 13. The defeat of M. Hernot is merely a matter of hours. The Finance and Foreign Affairs Commitees’ vote rejecting any form of payment in December, sealed his fate, and the debt commission passed the death sentence, after hearing from M. Herriot’s own lips the text of his American note. Even his own Radicals will vote against him.

M. Louis Marin, leader of the Right, opened a. bombardment in the Chamber with a speech against the payment on December 15.