WAR DEBTS

Evening Star, Issue 21081, 19 April 1932, Page 7

WAR DEBTS

QUESTION CF REVISION AMERICA’S ATTITUDE. Pres* Association—By Telegraph—Copyright. LONDON, April 18.. The ‘ Daily Telegraph’s ’ diplomatic contributor says: “ The American Ambassador (Mr A. W. Mellon), in private conversations, intimated that there is not the slightest chance of America agreeing to a revision of war debts at present. It would be fatal to raise the question at this juncture.” STUPID AND ILLOGICAL ATTITUDE, PROFESSOR OLIPHANT’S VIEWS. ADELAIDE, April 19. (Received April 19, at 9 a.m.) Professor E. H. Oliphant, who returned from a lecturing tour of the United States, describes that country’s attitude concerr.i g debts as “ stupid and illogical.” It cornered the gold supply, thus making goods the only form of international payment possible, then in effect said: “ You must pay us every cent, but by our high tariff we will cripple you so that you cannot.” Americans apparently thought they could have it both ways—an illusion from which they were now awakening. Professor Oliphant declared that, although there was strong opposition to debt cancellation or modification, the United States Government would eventually be forced to adopt it through sheer pressure of economic circumstances.