AMERICA'S BILL.

Auckland Star, Volume LVIII, Issue 69, 23 March 1927, Page 7

AMERICA'S BILL.

BRITAIN'S WAR BRUNT.

American Statements Refuted

by Chancellor.

FULL REPORT AWAITED.

(By Cable-Press Association.-C<wrl S bt.

ißooolvml 11 .to q m .\

LONDON', March 22.

In the Tlonse of Commons, Mr JJ inston Churchill, Chancellor of the Exchequer, dealt with Britain's payment of war debts to America

During the year Britain should "T^n^ 2 ' 750 * 000 from Germany, and .€9,n00,000 in respect of Allied war-debts, a total of .l!22,2.")0,000. In the same period she would pav to America £33.000,000.

cfr--n"nJ 1 ft2B nritai " wouW "Wive f i -™££ '" (,ormnn reparations and in Allied war-debts, a total of 128,250,000, and she would again pay America £33,000,000.

From 1929 onwards Britain's receipts, under the arrangements with her Allies and Germany, would be sufficient to pav her indebtedness to America, provided the Dawes annuities were revived in full, as by 10.t:i Britain's yearly payments to America rose to i.t5.000.000.

However, even if the full Dawes' payments w.re received yearly for GO years, hngland's receipts from reparation's and war-debts would not he. sufficient, on the basis of present values, to cover her payments to America, which included some made before she received anything from her debtors.

Lt.-Col. Howard Bury (Con.. Chelmsford) asked if .the Chancellor would see that these facts were communicated to all the nations in order to overtake the misleading statements made by the Lnitod States Secretary of the Treasury (Mr. Andrew Mellon).

Mr. Churchill replied that he did not want to assume Mr. Mellon had made misleading statements until he received the actual report. When ho did so he would make a statement showing exactlv where any divergences occurred.