GENEROUS BRITAIN.

Auckland Star, Volume LVII, Issue 24, 29 January 1926, Page 7

GENEROUS BRITAIN.

ITALIAN DEBT SETTLEMENT. • FLEECING JOHN BULL.' , COMMENT AND OPINION. fljj CaM". —Press Assoi intion.—Copyright ) .;; ■■■ rivr-a in a.tn.i LONDON, January 28. Tlir nsw-paprr* emphasise the sacrifice made liy Uritiiin under the Italian debt settlement. It is understood that France w j|l be next. M. Doiimer intending to come to London as soon a* the financial dehate in the 1 hillliber of Deputies is elided. The "Daily Telegraph's , ' diplomatic correspondent *ny» that justification for tlir terms luiidi , with Italy lies in th n fact that I til l> receives so small a quota from the Herman reparations; also, Italy's frequent hearty support of Britain* Kurnpean policy. The "Daily Chronicle 1, describe* the settlement as ••Fleecing John Bull." The -Morning: |'n«t" says that it mark- another step in tlie unification of Europe. It is too lute now to repine iliat the policy of rroneral deht cancellation is not carried into effect, though it nnist be nlways h mutter for regret. The "Tim"-" rhvs that =ince cancellation i« nut possible, British policy has I,ppti tn cancel all except an amount equiil tn the sum paid to America. "In practice, however, continues the "Times." "we cannot obtain more than the dehtors are able t<> remit without strain; otherwise, what we mislit jrain in repayment we should lose in trade owinjr to the diversion of moneys from current purchases tn redemption of old purchases." The "Financial Times" says that MY. Winston Churchill ( Chancellor of the Exchequer! wanted some relief from the burden of payments to America, and accepted the fir-t reasonable fisure su<r?p?ted. the Treasury takinp the viewthat a bird in the hand is worth twn in the hush. The "Daily TTerald' , declares: "Once Dinre nritifli have been taken in by n foreign story. The interests of heavily taxed people have lieen sacrificed for a visionary political advatitajrp.*—fA. , and X.Z.'Cable.)