BRITAIN MUST PAY

Evening Post, Volume CXIV, Issue 131, 30 November 1932, Page 10

BRITAIN MUST PAY

DEFAULT DOUBLE-EDGED

AMERY'S HINT TO AMERICA

DEBT OB TEADE, WHICH?,

Unites Press Association—By Electric Tel»» craph—Copyright. (Received 30th November, 2 p.jn.) LONDON, 29th November. Mr. L. CM. S. Aniery, speaking-at Birmingham, said that Britain could not refuse payment of the American: debt simply because it was unpleasant, or because others were defaulting. Repudiation was a double-edged weapon! for Britain, which was still the greatest creditor nation in the world, being owed, apart from war debts, four times more by the rest of the world than she owed America. The consequences of our default would strike us in the f aea every quarter. We were at ' present engaged in insisting that the Irish, Free State should fulfil its obligations. Must we admit, that we had beea wrong and Mr. de Valera right in saying that a nation's .pledges meant nothing, if fulfilment happened to bo inconvenient. A tremendous election, in Australia was based on the' issue whether she should fulfil her obligations, but she honoured them. ''Are we now going to tell Australia that what she fought for in order to preserve her honour was a piece of foolish Quixotism? What security: shall we have, if our example shows that pacts and pledges mean nothing? "Wo cannot repudiate, despite the ourden imposed on us, if others refuse to do so. Doubtless, we would like tha Americans to regard the supplies they, sold us m war time at a stiff price not as a business transaction, but as" a common effort, but America is entitled to point to the letter of our signed-bond, and the fact that Mr. Baldwin repeated the bond after the war. America cannot have it both ways. She can have it m debts or trade. If that~ is mada clear to America, it will bring us muclt nearer a settlement than any amount of reasoned dispatches." ■•■ '