BRITAIN'S WAR DEBTS

Gisborne Times, Volume LXVIII, Issue 10727, 26 October 1928, Page 3

BRITAIN'S WAR DEBTS

HOME ATTITUDE OUTLINED PRAISED BY PRESS (BritisJl Official WireJfi.ss.) E.UHBY, Oct. 24. The reaffirmation bv Mr Winston Churchill. Chancellor of -the Exchequer. of Britain’s maintenance of the principle underlying the Balfour Note on reparations, is welcomed by the press. It is emphasised that Britain has made her maximum contribution to settle war debts and reparations, having, in accordance with the terms of the Balfour Note, forgiven foreign war debtors who owed her £2,000,000,000 everything except what- is needed to pay American creditors for munitions and supplies bought from them during the war, and expended in the common cause. No further contribution in the present circumstances is possible. The Daily Telegraph says that although it was always inconceivable that any British Chancellor should fail to protect the British taxpayers against the imposition for the relief of taxpayers of other countries of further taxes arising out of the war Mr Churchill’s statement, is timely. The Morning Pbst thinks it well that before, a conference is summoned for considering reparations, Britain’s position should once again be made perfectly clear. The Manchester Guardian points out’ that the responsibility must rest with France and Germany for now raising the question of an early reconsideration of the provisional Daw : es plan, and replacing it by arrangements which, by fixing the total amount of Germany’s debt and relieving the Allies of the onus of, converting German marks into foreign currencies acceptable abroad would, in Mr Parker Gilbert's words, give Germany a definite task to perform on her own responsibility without foreign supervision. ,The Guardian recognises that although the transfer of protection under the Dawes plan was devised in Germany’s own interests, it is. nat-; urally disliked by Germany. “British interests, in thei matter , appear, however,...to be confined 'to seeing that the revision of the Dawes plan is not going, through at our . exliense”, the journal adds. “If other countries ..press for a revision, well; and good. So .far as we arc concerned iwe should ho quite willing to leave' matters as they are for . the time being! The British position is that we have already cut our-claims down to the minimum necessary . to, meet out' obligations to America. There is nothing in the actual recortf of. events to suggest'-that the exisiing scale of payments 'imposed on Germany hardships incompatible with her satisfactory economic deveioment.” A