DEBTS TO AMERICA

Dominion, Volume 16, Issue 89, 11 January 1923, Page 7

DEBTS TO AMERICA

LIMITATIONS IMPOSED BY CONGRESS

MODIFICATION ESSENTIAL As none of the nations owing war debts to the United States can fund their obligations within the limitations imposed by Congro&s, the American Debt Commission will obtain the best possible terms in funding the British debt, then report to the President, who Will submit recommendations to Conaross for a modification of the law. By Telegraph.—press association. —Coryeight. (Rec. January 10, 5.5 p.m.) Washington, January 9. A White House spokesman officially announced that none of the nations owing tho United States war debts can fund their obligations within the limitations imposed by Congress. It is stated that the American Debt Commission will obtain the best possible terms in funding the British debt, then report to tho President, who will submit recommendations to Congress for a modification of the la.w, Congress being informed that such a. step is necessary if America is to receive payments in the near future. Pending such a recommendation and Congressional consideration, tho British Mission will return to England, to come to Washington again when and if Congress agrees to the suggested terms Such extended maturities and modified interest terms a.s approved will extend to all other debtor nations entering funding negotiations with the United States.—Aus.-N.Z. Cable Assn.