WAR DEBTS

Grey River Argus, 4 May 1932, Page 6

WAR DEBTS

BRITISH AGITATION FOR CANCELLATION. (Aus. & N.Z. Cable Assn). LONDON, May 3. Lord Leverhulme presiding at tho London Chamber of Commerce dinner said that confidence would not be restorable until ihc problem of war debts and reparations were solved. Al l the nations were looking at the question of international indebtedness in a new light, realising the hopelessness of attempting to settle in full the debts contracted on the gold basis now requiring poduction of three times tho quantity of goods originally necessary for payment. Mr Runciman said the first step to open the new era must be a complete cessation of payment of war debts and reparations. It was not sterling but gold which had fluctuated in the past ten years. Industry could not stand the continual sag in prices. There Mas only one way of dealing with tue situation. Let’s all go on a sterling basis, then many of our troubles will be solved.