BRITAIN'S POLICY

Rotorua Morning Post, Volume 2, Issue 404, 13 December 1932, Page 5

BRITAIN'S POLICY

AMERICAN REACTIONS Washington, Dec. 11. The American Note apparently wishes to clarify legal settlement. The British Note suggests that the conditions stated be construed as a simple declaration of Great Britain's future policy, which is in no way binding on the United States, or injuring the legality of the existing agreement. "It is therefore assumed in conditions of payment, states the note, that you are not making this payment otherwise than in accordance with the terms of the funding agreement, but that you are indicating the steps your Government may desire to propose subsequently, after re-examina-tion of the whole problem. Representative- Rainey, a prominent member of the Ways and Means Committet,, declared that . Mr. Stimson's answer is eminently proper. Senator Borah said the Secretary of State could not reply in any other way then to say that payment could not be received except under the terms of the debt funding agreement. During and after the conference, when the note was drafted, Mr. Stimson and Mr. Mills and others appeared anything but gloomy. They apparently feel that Great Britain has now admitted that she had the money to pay and whatever conditions she sought to attach could not stand against this admission.