WAR DEBTS

Greymouth Evening Star, 29 August 1925, Page 5

WAR DEBTS

BRITISH OFFER CRITICISED

(Australian and N.Z. Cable Association

LONDON, August 28.

Lord Bradbury, interviewed by the Central News Agency, said: “Frankly, I ani alarmed at the new British offer. Ido not think we ought io have accepted less- than twenty millions a year. If there had been a spontaneous French offer somewhat below twenty millions, there would have been a lot to. be said for its acceptance, but writing oil' two-thirds of the claims without improving the security for the other third is not good business. I think there is a danger of the British proposals being further whittled down before acceptance, oi; being accepted as they are at present, with the avowed intention of demanding a reduction later. If France obtains similar terms from America, she will cover aill debt payments if only half the Dawes annuities are received. Britain, on the contrary, will be several million short of covering her commitments to America-”

PLAIN WORDS FROM U.S.A.

NEW YORK, August 28.

Comment regarding the. tentative Anglo- French agreement involving the United States’ terms to France, is generally sceptical and unenthusiastic. A “Tinies”Meader says: “Whatever thetruth there is in the allegation that a shrewd ■game is being played against Washington, it is not the sort to sway our Government from the fixed policy. All it needs to do is to re-affirm its principles and actions in this business, and live up to them. Among the British proposals is the cancellation of part of the French deb.t to England, but our Government has more than once solemnly declared that it cannot admit cancellation or anything else which would rob international credit of its sanctity.” The “Sun” says: “It has been stated very plainly in this country that the French debt to America will be founded on terms accorded to England, namely, 62 years, which will pay interest of 3 per cent- the first ten years, and 3£ per cent thereafter. If Mr Churchill knows this, and surely he must, his offer to France of an easy settlement, contingent on France lind--ing an equally easy settlement with Washington, is only a political move. When America declines to do more for France than she has done for England, then Mr Churchill will be able to express regret that he must insist on Frame paying higher rates to England.”