STRICKEN EUROPE

Taranaki Daily News, 3 February 1920, Page 5

STRICKEN EUROPE

MEASURES OF RELIEF. BRITAIN AND BORROWING By Telegraph.—Press Assn.—Copyright, Received Feb. 2, 7.35 a.m. Washington, Feb. 1. The Secretary of the Treasury (M: Carter Glass) has published aletter from Mr. Lindsay, British Charge d'Atfairea, Baying that His Majesty's Government wishes to state it is entirely contrary to the policy of the British Treasury to incur further indebtedness in the United States. Any measure of relief to the war-stricken countries, if finally agreed upon, must obviously not involve further boirowing by Britain in the United States.—Aus.-N.Z. Cable Assn.

The Ways and Means Committee of Congress unanimously reported out the Bill authorising the United States Grain Corporation to spend 50 million dollars in food supplies for the starving countries of Europe. This disregards Mr. Glass' request for an appropriation of 125 millions.

It is predicted that the Bill will meet with strong opposition in Congress. M. Phelan, speaking in the Senate against further foreign loans, declared that they would pauperise Europe and eventually ruin the United States. He charged Britain with using the money borrowed in America to push a campaign for world supremacy in commercial matters, in which America was her greatest rival.—Aus.-N.Z. Cable Assn.

[Mr. Asquith, Viscount Bryce, Lord Robert Cecil, Mr. Clynes, Lord Inchcape, Mr. Mackenna, Mr. Thomas, and others signed a memorial to the leading Governments, including those of Britain, France, and America, urging that International action should be taken to restore the economic stability of the world. The memorial said it was evident that Germany and Austria would have to beaT a heavier load than the conquerors, but that care must be taken that the burden did not exceed the measure of the highest practicable taxation, and did not destroy the power of production. Germany and Austria, it further stated, must not be rendered bankrupt or the standard of living lowered so that willingness to pay a just debt may be converted into a spirit of despair and revolt. The signatories recommended the granting of long-term credits to the countries requiring assistance to restore their equilibrium.]