WAR DEBT FAILURE

Greymouth Evening Star, 8 November 1933, Page 12

WAR DEBT FAILURE

WHAT BRITAIN ASKED. [BY CABLE —PBESS ASSN.—COPYBIGHT.] LONDON, November 7. The “Daily Telegraph’s” diplomatic correspondent says: “The war debt negotiations have broken down, because America would not countenance the scaling down of Britain’s obligations to a lower level than that which is embodied in the Franco-American funding agreement. America, moreover, is unwilling that the amounts already paid by Britain in excess of the French scale should be set off against future payments. On this basis, Britain would have owed nothing for ten or eleven years.

MR ROOSEVELT’S STATEMENT

(Recd. November 8, 9.30 a.m.) WASHINGTON, November 7.

Mr Roosevelt announced, to-day, at the end of the British war debt negotiations, no agreement, but with a payment of 7,500,000 dollars on December 15 instalment. The President said he did not regard Britain as being without prejudice, “until certain factors in the world situation, commercial and monetary, become more clarified.”