BRITISH REQUEST

Rotorua Morning Post, Volume 2, Issue 380, 15 November 1932, Page 5

BRITISH REQUEST

(British Offieial Wireless)

REVIEW OF INTERI^ATIONAL OBHGATIONS IS NECESSARY FULL TEXT OF NOTE

Rec. Nov. 1^. * • Rugby, -Novjf 13. A belief that the regime of intergovernmental firiancial obligations . must be reviewed is -elrpressecli in the note handed by the British Ambassador at Washington, Sir Ronald Lindsay to Mr. H. L. Stimson, Secretary of State. The British Government ask that meanwhile the payments of the Brit4 ish war debt be suspended .and that the United States enter into an exj change of views on the measures necessary to hasten the restoration, of world prosperity. The Note states, inter alia: "To-day, many thoughtful men throughout the world are convinced that if the depression is to be overcome, further remedial measures must be sought. It was in accordance with the above reconimendation in June last that the European creditor powers met at Lausanne to agree on a lasting settlement of the problem created by inter-Governmental payments in respect to reparations. "A series of agreements which was reached on June 8, aims at the ultimate termination of all reparation payments. "It represent the maximum contribution in the field of inter-Govern-mental finance which the Governments concerned so far have been able to make towards that early restoration of world prosperity in which the people of the United States, no less than those of the British Comnionwealth of nations, have so deep an inter est and for the achievement of which the co-operation of the United States is essential. "It is not proposed now to say more than that in recent times the British Government has frequently expressed the view that neither in the realm of theory nor in fact are they able to find any reason for amending* it. Must Be Reviewed "They helieve that the regime of inter-Governmental financial * obligations as now existing must he reviewed and they are prufoundly impressed with the importance of acting quickly. "They earnestly hope that the United States will see' its way to enter into an exchange of views at the earliest possible moment. "The immediate objective of the present note, however, is of a more limited nature. On December 15 next an instalment of the British war debt will be due to be paid. It i& not possible to hope that an agreement can be achieved in five weeks on matters of sueh vast scope. "Confronted last summer with a similar difficulty, the- conference at Lausanne found it necessary in order to allow its work to proceed, undisturbed, to reserve during the period ,of the conference, execution of payments due by the participating powers. "The British Government hope that a similar procedure may now be f ollowed, ' and ask for the suspension of' payments due from them for the period of the discussions now suggested or for any other period that may he agreed upon. "The British Government believe that- the proposed discussion could best begin in Washington, but on this point as well as on others touched upon in the present note, they await an expression of views by the United States Government."