BRITAIN’S WAR DEBT

Dominion, Volume 29, Issue 217, 10 June 1936, Page 9

BRITAIN’S WAR DEBT

No Payment to America

This Month

LETTERS EXCHANGED

(British Official Wireless.)

Rugby, June 8.

A White Paper issued iu London this evening gives the texts of correspondence between the United States Government and the British Embassy in Washington regarding the British war debt.

The Department of State addressed a Note on May 22 to the British Ambassador transmitting a statement of the amounts due half-yearly since June 15, 1933, and including June 15 next, under the debt agreement of 1923 and the moratorium agreement of 1932 and reiterating the willingness of the United States Government to discuss any proposals the British Government might desire to put forward as to payment.

Tlie statement allows the total amount due on June 15 next as 55,670,763 dollars.

In acknowledging the Note and the accompanying statement on June 7, Sir Ronald Lindsay said: “His Majesty’s Government explained in its Note of June 4, 1934, the reasons for which it) was reluctantly forced to suspend the payments. Those reasons are unfortunately no less valid now than they were then. His .Majesty’s Government desires me to express its appreciation of your assurance that bhe United States Government is ready to discuss any proposals in regard to payment which may be put forward, and I am instructed to assure you in return ’that his Majesty’s Government will be glad to reopen negotiations whenever circumstances aie such as to warrant) the hope that a satisfactory result might lie reached." FINLAND EXCEPTION Britain’s Arrears Total 688,000,000 Dollars (Received June 9, 5.5 p.m.) Washington, June 8. Sir Ronald Lindsay, British Ambassador, formally notified the State Department that Britain would not make a war debt payment. Other war debtors, excepting Finland, are expected to take similar action prior to June 15, the date when payments are due. The instalment owed by Britain is 85,000,000 dollars, making her total arrears 688.000,000 dollars.