AMERICA AND WAR DEBTS.

Press, Volume LXVIII, Issue 20629, 19 August 1932, Page 11

AMERICA AND WAR DEBTS.

EFFECT OF POLICY.

ENGLISH PROFESSOR'S OPINION.

(UNITED TRESS ASSOCIATION —BY ELECTRIC TELEGRAPH—COPYRIGHT.)

NEW YORK, August 17,

"The "United States's choice between tlie reduction of the war debt settlements of tho Allies and insistence on full payment is actually a choice between an orderly and a disorderly world," declared Professor T. E. Gregory, of the London School of Economics, addressing the Institute of Politics at Williamstown (Massachusetts). "If tho United States refuses to reduce war debts," he asserted, "it is as certain as anything that tho revival of the reparations question will lead to a moratorium by Germany on her private as well as public debt. Altered circumstances have reduced Great Britain's capacity to pay licr debts to the United States."

[Professor T. E. G. Gregory, D.Sc. (Econ.), London, has been the Sir E. Cassell Professor of Banking at the University of London since 1926, and Professor of Social Economics in the University of Manchester since 1930. He was economic adviser to the Niemeyer mission to Australia and New Zealand in 1030.]