The Press Tuesday, December 20, 1932. New Zealand's War Debts.

Press, Volume LXVIII, Issue 20734, 20 December 1932, Page 10

The Press Tuesday, December 20, 1932. New Zealand's War Debts.

The NeAV Zealand Government's offer to resume war debts payments to Great Britain, announced yesterday, is one manifestation of that sense of solidarity among British peoples Avhieh makes the Empire something more than a constitutional alliance of nations. After the OttaAva Conference it Avas freely said, not only in foreign countries, that the Imperial spirit had shrunk to a narrow commercialism; and some of tho things said and clone at Ottawa justified the charge. The New Zealand Government's action shows that, as between at least two units of the Empire, formal agreements are less important than unspoken understandings. When the Hoover Moratorium was declared, the British GoA'ernment generously extended it to cover the service of Ncav Zealand's Avar debts to Great Britain, a concession which lightened the burden on the 1931-32 Budget by £870,000. Before the discussion arose over the December payments to the United States, and possibly under the* impression that the Hoover Moratorium Avould be extended, the British Government announced that it would not expect a resumption of Ncav Zealand's payments in 1932-33. The Ncav Zealand Government's attitude is that it docs not Avish to profit from what appears to be a mistaken estimate by the British Goa'ernment. If payments to Great Britain are resumed, the Government Avill be required, in 1932-33, to find £600,000 in addition to the expenditure already budgeted for; and it must be admitted that the task will not be easy. But if extra economies or taxes are found to be necessary the country will accept them as cheerfully as such disagreeable measures can be accepted. j