BRITISH NOTE TO U.S.A.

Auckland Star, Volume LXIII, Issue 286, 2 December 1932, Page 7

BRITISH NOTE TO U.S.A.

HEAVY WAR DEBT BURDEN.

AMERICA AND THE WORLD SUFFERING

STRONG CASE FOR SUSPENSION.

VEILED HINT OF TARIFF REPRISALS.

Characterised as the most important document since the Great War, the British Government's Note to America on war debt payments has been dispatched and received in Washington. The Note constitutes an eloquent survey of the entire problem of war debt finance and of the post-war depression. It expresses the view that war debts and reparations are among the major causes of the world s present problems.

The enormous burden which has fallen principally on Britain, is lucidly indicated, and it is pointed out that continuance of the present agreements regarding war debt payments would not only harass the debtor nations but would deal a serious economic blow to America herself. The British Government points out that if the present plan of payments is continued, the adverse trade balance would have to be reduced by Britain by the adoption of measures which would further restrict the United Kingdom purchases of American produce.