DEBATE TO-DAY IN COMMONS.

Press, Volume LXVIII, Issue 20729, 14 December 1932, Page 11

DEBATE TO-DAY IN COMMONS.

'FREE DISCUSSION LIKELY. i BRITAIN'S PAYMENTS AND I RECEIPTS. ; IBBITISE OM-ICIAI. WIHELESS.) • I UUGBY. December 12. , j 1" response to a request by the j Leader of the Opposition (Mr George j Lansbury), that a Government stato- . ment rclaMvo to the American debt pay- . j ment bc made in the House of Commons i under conditions enabling tho House to ; discuss it, Mr Stanley Baldwin anj nounccd that the Government had arranged to devote Wednesday to a debato on this subjoct. An appropriate statement will be made, probably by the Chancellor of the E:.i'licquc?r (Mr Neville Chamberlain). The Government would not put down a motion and the House would have a perfectly free debate, enabling discussion from every viewpoint. The Vrime Minister (Mr Kamsay MacDonald), reaching London from Geneva this afternoon, consulted his colleagues, among other matters, on the United States reply to the British Note. It is anticipated that Cabinet will meet to-morrow, when the question as to whether a further communication will be sent, to the United States is expected to be considered. ! Illuriinating Figures. Jn written replies to Parliamentary questions tho Chancellor of the Exchequer gives details showing that Great Britain's receipts in war debts • amounted to £71,100,000, and in repara- , tions to £121.300,000, making a total of :', £192,-100,000. Her payments to the United States | for war debts amounted to £326,200,000, : exceeding her receipts from war debts [ and reparations by £]33,500,000. j He says that if '(he British war debts to the United Stales had been .from tho outset settled on the same basis as the French war debts to the United States, the amount which the British Government has already actually paid would exceed tho amount due on such a basin by 795,700,000 dollars, and no further payments would bo due until 3940. Similarly, if British war debts had been settled on tho basis of the Italian settlement, no further payment would bo duo until 1955. If, howsever, past payments were ignored and future payments in respect ■of the actual capital debt now outstanding were made on tho basis of the French settlement, the amount payable by Great Britain on Thursday would be 22,000,000 dollars, instead of 95,500.000 dollars. Similarly, if future payments were made on tho basis of the Italian settlement, the amount payable would be 2,750,000 dollars, instead of 95,500,000 dollar?. Approximately 29 per cent, of the British debt to the United States would have been paid off by payments already made by Great Britain if the settlement had been on the same basis as either tho French or Italian settlement. Under the existing settlement, only 4 per cent, of the capital debt had been repaid. I THE ROOSEVELT j PROGRAMME. ! | FORECAST IN MAGAZINE ARTICLE. ; (l-sited tress association—-bt electeio [ IELEOaAPH—COPYRIGHT.) (Received December 13th, 5.5 p.m.) NEW YORK, December 12. , Colonel House, who is a strong supporter of Mr F. P. Roosevelt (Presi-dent-elect), writing in the current issue of tho magazine "Foreign Affairs," discusses foreign policy, which, it is assumed, affords a broad outline of the policy Mr Roosevelt will follow. He says that the aim of tho new administration will bo to "wipe out war so that world confidence may be restored and world trade freed from its shackles." Ho specifies the lowering of prohibitive tariffs to a competitive revenueproducing basis, the revision of war debts (taking them out of politics), and the achievement of disarmament as "a. sequel to the creation of a state of security which the world lacks to-dny." He favours supplementing the Pact of Paris with a consultative agreement. OPTIMISTIC VIEW. MR NEVILLE CHAMBERLAIN AT BIRMINGHAM. . LONDON, December 12. "I don't think we need quarrel with the reply of Mr H. L. Stimson, United States Secretary of State," said Mr Neville Chamberlain, Chancellor of the Exchequer, speaking at Birmingham. "We don't ask acceptance of our proposal that payment should bo considered as a capital one at this stage, but havc reserved tho right to advance it when tho discussions begin. "If the diseussions are treated in the usual friendly spirit I believo it will be possible to reach a conclusion satisfactory to both Great Britain and the United States." deferring to Lausanne, he said that tho question of asking payment from Great Britain's debtors did not arise at present, but if the Lausanne agreement went unratified owing to the impossibility of making a settlement with the United States, Great Britain's claims upon her debtors would bo revived with full force. lie added: "I take a more cheerful view of Great Britain's prospects than for many months." GOLD MONETARY SYSTEM. PROPOSAL POSTPONED IN j THE MEANTIME. {BRITISH OFFICIAL WIRELESS.) (Received December 13th, 5.5 p.m.) RUGBY, December 12. The Council of the Bank of Inter-natiqr-r.J Settlements has decided to abandon its intention to establish u new monetary system based on gold until the war debts question has been < settled between the Governments in- i terested.

NO SERIOUS DIFFERENCE. (Received December 13th, 7.55 p.m.) LONDON, December 13. The political writer of the, "Morning Post" says that the United States Note is not regarded as raising a serious issue. Jt is expected that the British reply accompanying the formal payment will merely record the differing views of the Governments. AN ECONOMIST'S VIEW. MONTREAL, December 12. Sir Norman. Angcll, the British author and economist, in an interview to-day, stated: "Great Britain will not need to put a specific embargo against United States goods if war debts payments continue, as the pound will depreciate still further, and it will not be possible to buy American goods in the United Kingdom on account of their high price." TRADE TREATY PROPOSAL. Y," ' 3HINGTOX, December 12. j Steps to advance his proposal for reciprocal trado treaties with Canada! and Great Britain arc under contemplation by Senator Hull (Democrat, Tennessee). He hopes to take them up shortly after the Christmas recess. "The effect of the Ottawa Conference," said the fi-.mator to newspapermen, "was to restrict world trado as a whole instead of to encourage expansion. I think it was unfortunate for Great Britain to be forced into a policy wo had promulgated and led the world into by our increased tariff rates. I am hopeful of focusing attention on my proposal and believe we can advance it after the Christmas recess." NEWSPAPER COMMENT IN ROME. ROME, December 12. The "Osaervatorc vmano," the organ of the Vatican, in an inspired article, says that the sacrifices demanded of the United States must not bo disconnected from peace. War debts, reparations, and disarmament arc interdependent. If Europe insists on the revision of war debts because thoy cannot be dissociated from reparations, the Lulled States must insist on the relation between, debt revision and disarmament. ,