FUNDING WAR DEBTS

Evening Post, Volume CV, Issue 9, 11 January 1923, Page 7

FUNDING WAR DEBTS

AMERICA SEEKS BEST TERMS.

(UNIIED PRESS ASSOCIATION.—COPYRIGHT.)

(AUSTRALIAN • NEW ZEALAND CABLE ASSOCIATION.)

WASHINGTON, 9th January.

The White House spokesman officially announced that none of the nations owing the United States war debts can fund their obligations within the limitations imposed by Congress.

It is stated tha£ the American Debt Commission will obtain the best possible terms in funding the British debt, and them report to the President, who will submit recommendations to Congress for modification of the law. Congress will be informed that such "a step is necessary if America is to receive payments in the near future.

Pending such a recommendation, and its consideration by Congress, the British Mission will return to England, but will come to Washington again when and if Congress agrees to the suggested terms.

Such extended maturities and modified interest terms as are approved will extend to all other debtor nations entering into funding negotiations with the United States.