MILLIONS SACRIFICED

Sun (Auckland), Volume II, Issue 493, 24 October 1928, Page 9

MILLIONS SACRIFICED

FABULOUS SUMS FOR COMMON GOOD Britain’s Stand On Reparations (United 13.A.—8y1 3 .A. —8y Telegraph — Copyright) (Australian end N.Z. Press Association) (United Service) Received 9.15 a.m. LONDON, Tuesday. ~ NO other Ally has made or contemplated anything like an equal sacrifice. Surely nobody can expect us to do more,” said the Chancellor of the Exchequer, Mr. Winston Churchill, to-day, outlining the stand that Britain will take at the forthcoming Reparations Conference.

In a speech, at Chingford, he said that Britain would do everything possible to advance any good arrangement to fix Germany’s total, but .Britain had already made an immense and unequalled contribution to the reduction of reparations. “We have renounced all idea of taking money either from the Allies or from Germany for ourselves. We have forgiven our debtors, who owed us £2,000,000,000. Everything except what is needed to pay our American creditors for munitions has been

expended in the common cause. No other Aliy has made or contemplated anything like an equal sacrifice. Surely nobody can expect us to do more? We have taken this stand irrevocably on the principle of the Balfour Note. “We have to pay £33,000,000 a year and we are actually getting now about £32,000,000 from Europe. We are thus on the point of achieving the position aimed at in the Balfour Note, and we shall do everything in our power to maintain that position in the future.