DEBT PAYMENT

Hokitika Guardian, 16 June 1933, Page 5

DEBT PAYMENT

ROOSEVELT’S VIEWS SENATE EXPRESSION. (United Press Association—By Electric . Telegraph—Copyright.) (Received th day at 9.30 a.m.) WASHINGTON, June 14. Mr Roosevelt -pointed -out that th© debt payment in no way prejudices cither the Government or subsequent discussions. He also outlined the history -of his negotiations with Britain, and averred that only Cougress had. the right to alter the amount or method of payment of debt. He reiterated America’s intention not to discuss thedehts at the London Conference. Ho concluded “I have no persona] hesitation in saving I do not characterise the resultant situation as default.” During a discussion in th© Senate, Mr Reed dee,bred 'that Britain had defaulted. There was no snatfow of » suggestion of 'their inability to pay. They did' not want to pay. .-Senator Glass supporting the Piesident, declared tha thousands of boys, .from the debtor nations were killed in battle, in the cause we professed tobe our cause. Not only that but for three years after .we made fabulous fortunes out of the very money we loaned these nations,- requiring them to spend every dollar loaded in-thig country and charging them ' extortionate prices for our products.