TEEMS ACCEPTED

Ashburton Guardian, Volume XLIII, Issue 9787, 1 February 1923, Page 5

TEEMS ACCEPTED

ALLIED DEBT TO AMERICA.

HEAVY WAR OBLIGATION.

GREAT BRITAIN'S RRESPONSIBILITY.

(Per Press Association, Copyright.) (Received This Day, 8.55 a.m.) LONDON, January 31. Britain has accepted .the American debt terms. A LITTLE DEBT FORGOTTEN. OWED BY AMERICAN STATES. (Received This Day, 9.10 a.m.) LONDON, January 30. The "Daily Express" says that in view of the American demands for the strictest honouring of Britain's obligations, it should be pointed out that a number of Southern States owe Britain £12,000,000, borrowed for public improvements forty-seven years ago. :

TERMS OF REPAYMENT.

VIEWS OP EX-CHANCELLOR.

OTTAWA, January 31

,!&.$ Montreal, Sir Robert Horneyv formerly Chancellor of the Exchequer, in a speech said Britain would pay her debt to the United States, in full/but was entitled to a less exacting bargain than was arranged during • the war. It must be remembered that "Britain* not only, left the amount of the loan in cash!- in the United States, but the total amount of money spent there by her exceeded the British debt to the United Stateß. Britain, if she made a full return of her debt now would be paying more than she originally received due to the difference in the cross rates of exchange now and then.

A CONGRESSMAN'S VIEW.

WASHINGTON, January 30.

Mr Claude Kitchin, who is a member of the Ways and Means Committee of the House of Representatives, in a speech said: "When the United States granted loans to the Allies I cautioned members of the Committee against a tremendous post-war propaganda to have Allied debts cancelled. The Secretary of the Treasury assured me payment would be demanded in full, otherwise the Committee would not have voted the loan bills. It will be time enough for patriotic Americans to consider foreign debts when the holders of our war bonds signify their willingness to release the United States Government from its obligations to them.'*

AMERICAN OPINION.

APPROVAL OF THE TERMS. )

(Received This Day, 1.10 p.m.) WASHINGTON, January 31. While there are no official comments pending, Sir Auckland Geddes's notification of the British debt acceptance, the Administration is highly pleased with the news. The Treasury states that Mr Mellon believes the action will have an incalculably good effect on the critical world economic situation. Mr Harding intends immediate action to place the matter before Congress. It is believed he will ask for an-alteration in the Debt Funding Act to make it conform with the British arrangement, instead of asking for specific authority to consummate a single agreement. Early Congressional comment indicates speedy approval of the terms. It is learned that a Bill providing • Congressional approval of the debt funding will be introduced in the Senate not later than Monday.