REPAYMENT TO BRITAIN

Evening Post, Volume CXI, Issue 24, 29 January 1926, Page 7

REPAYMENT TO BRITAIN

MR. CHURCHILL EXPLAINS

NATX7EE OF AGREEMENT. 1

(ClHTltf PRIM ASSOCIATION—COPIWGBT.) (SIUTEE'S TELIOItAM.) (Eeceived 29th January, 1Q a.m.) ' LONDON, 28th Jenuarjv An atmosphere of great cordiality characterised the conclusion of the agreement covering the settlement of Italy's war debt to Britain. The debt totalled £611,000,000, against which Signor Volpi claimed a refund of £32,000,000 in gold deposited in London in war time. .

Mr. Churchill, ,at the ceremony of < the signing, declared that Cabinet had' allowed him a wide latitude in order' to give consideration to Anglo-Italian i friendship. \

It is noteworthy that the agreement is in no way mixed up with reparations. A clause in the agreement pro-i tects Italian currency in -the even,t of: abnormal depreciation due to the payment of debts abroad,^ while in the j event of Britain receiving more from; reparations and Allied debts thaa she\ lias paid to America, Italy's share of• such a surplus will be credited against! future payments. „_--,.,. v

Mr. Churchill, in an interview, however, said that Britain at present had paid £100,000,000 in reparations and t received £25,000,000 in reparation! and nothing from war debts.