WAR DEBTS

Evening Star, Issue 18173, 13 January 1923, Page 3

WAR DEBTS

BRITAIN AND AMERICA. AGREEMENT EXPECTED. Pres# Association—By Telegraph—Copyright. NEW YORK, January 11. The Commissions to-day gave particular attention to interest payments and the amortisation provisions which might he included in llhe tentative proposal which will bo submitltod to Congress. Air Mellon (Secretary of the Treasury) expressed tho belief that an agreement would probably ho reached within less than a week. 'lhc agreement will .probably provide low interest .rates for tho present and the abandonment of tho proposals for amortisation, through the establishment of a. sinking fund, until some time later. —A. and N.Z. Cable. INFORMATION DEMANDED. WASHINGTON, January ll Senator M/Kellar (Tennessee), in a speech in the Senate demanding that full publicity he given to the war debt negotiations, declared that Congress never would sanction a change in the present, funding law until it know what proposals had been made by the British Government. “Wo should have daily bulletins concerning tho developments of the negotiations. It is essential that the British people should know what is proposed to bo done. Negotiations behind closed doors materially hinder any successful conclusion.’’-—A. and N.Z. Cable. INFORMATION SUPPLIED. NEW YORK, January; 11. The ‘New York Times's’ Washington correspondent says: “Upon the heels of Senator M'Kellar’s speech the American Debt Commission announced that tho British Commission had submitted a detailed statement of Britain’s financial position, showing tho tax measures to which the British nation resorted in an effort to balance its National Budget, The British people wore more heavily taxed than the American, and additional severe tax burdens to meet the heavy interest and principal payments on their debt at this timo would inflict great hardships on the British working man’s family. The Commission pointed out that, in order to balance the 1922-25 Budget, the British Government probably would he forced to suspend payments into tho National Sinking Ennd for the reduction of tho Public Debt."—A. and N.Z. Gable.