THE REAL COST

Dominion, Volume 26, Issue 49, 21 November 1932, Page 9

THE REAL COST

Nations’ War Debts PAYMENTS TO AMERICA Purchasing Power Basis NEW YORK CALCULATION By Telegraph—Press Assn. —Copyright (Received, Nov, 20, 6.30 p.m.) New York, Nov, 19. In its financial article to-morrow the “New York Times" will say: “Measured by what they could buy with the money in their own countries the real cost of war debts payments has. increased by 87 per cent, in the case of the British taxpayer and decreased by 30 per cent, in the ease of the French taxpayer since the funding agreements were made, while the real value of the payments to our Government has risen by 54 per cent.” These percentages were calculated by compaing present curculated by eomparing present curetc.

Political forecasts at Washington indicate that when President Hoover and the President-elect, Mr. Roosevelt, informally discuss foreign debts on Tuesday the prevailing atmosphere in the capital will be against a further moratorium or reduction. From the highest administration sources has come word that the President is definitely opposed to another year’s moratorium and prefers the adoption of an attitude more rigid than the continued suspension of payments requested by Britain, France and Belgium. In like manner Mr. Roosevelt nas declared against cancellation, while he has been silent on requests for reexamination of the debt problem. Prominent Democratic legislators have joined the Republican leaders in declaring against the suggestion.