WAR DEBTS

Greymouth Evening Star, 30 January 1926, Page 5

WAR DEBTS

ANGLO-ITALIAN PACT.

(Australian and N.Z. Cable Association.)

LONDON, January 28.

An atmosphere of great cordiality marked the conclusion of the Italian debt negotiations. The total debt to Britain was 611 millions sterling against which Signor Wolpe claimed a refund of twenty-two millions sterling gold deposited in London during the war.

Mr. Churchill at the ceremony of signing the agreement, declared that Cabinet allowed him a wide latitude in order, to give consideration to Anglo-Italian friendship. It was noteworthy that the agreement was in nowise mixed up with the reparations. A clause in the agreement protects Italian currency in the, event of abnormal depreciation due to the payment of debts abroad, while in the. event of Britain receiving more from reparations and Allied debts than she has paid to America, Italy’s share of such surplus will be credited against future payments. Mr. Churchill, in the course of an interview, however, said that Britain up to the present had .paid a hundred millions sterling, and received twentyfive millions from reparations, while so far, nothing had come from war debts.

A FRENCH GRIEVANCE.

PARIS, January 29.

“Le Temps” asks why Mr Churchill requested France to pay three times as much as Italy, when the respective debts were 620 and 610 millions sterling.

The paper adds: - “If Italy gets only one-fifth the amount of our reparations it means tiiat France’s suffering was five times greater during the war.”