AN AMICABLE END.

Ashburton Guardian, Volume 56, Issue 99, 7 February 1936, Page 5

AN AMICABLE END.

' . ,/i AMERICAN WAR INQUIRY. NO DISCREDIT TO J. P. MORGAN. (United Press Association— Copyright.) WASHINGTON, February 5. The investigation by the Senate of J. P. Morgan and his associates, British fiscal agents in the United States during the Great War, officially closed today with a general feqling of amity on all sides but with a minimum of accomplishment toward determining the refir sons why America entered the war. In fact, from the point of view of Senator Nye and his associates, who undoubtedly wished to prove that pressure by bankers forced President Wilson’s hand the inquiry might he described as a “fizzle.” * In closing, the committee stated jointly that nothing had been produced to discredit Mr Morgan or his bank. To this Mr Morgan replied: “I,have had a fine time. I would not have missed this investigation for the world.” The session on the last day was devoted to a general discussion of war debts, in which Messrs T. W. Lamont and R. C. Leffingwell, who were in the Treasury during the war, contended that the loans to the Allies had been soundly issued, hut the post war mistakes of all Governments, including the American Government-, had made their liquidation seemingly impossible.

Members of the committee questioned them at length, looking for some suggestion of feasible means to adjust the debts, but none could be offered and on this note the inquiry closed. Although ho advanced no definite formula for the debt collection, Mr Lamont expressed the opinion that a lump sum would be an “admirable settlement.” He thought that fresh negotiations might lead to such a settlement if they were “free rrom any political influences.” t