BRITAIN’S SACRIFICE

Hawera Star, Volume XLVII, 24 October 1928, Page 7

BRITAIN’S SACRIFICE

FORGIVES HER DEBTORS. TWO THOUSAND MILLIONS. HER STAND ON REPARATIONS A (United Press Association--By Electric Telegraph Copyright.) « (Australian Press Association.) Received 11.15 a.m. to-day. LONDON, Oct. 23. The stand Britain will take at the forthcoming Reparations Conference was outlined by the Rt. Hon. Winston Churchill in a speech alt Chingford. He said that Britain would do everything possible to advance any good arrangement to fix Germany’s total, but Britain had already made an immense unequalled contribution to the reduction ot reparations. He added: _“We have renounced all ideas of 'taking money either from our allies or from Germany for ourselves. We have forgiven our debtors, who owed us two thousand millions sterling, everything except what we need to pay our American creditors for the munitions which have been expanded in a common cause. Nck other ally has made or contemplated anything like an equal sacrifice. Surely nobody can expect us to do more. We have taken a stand irrevocably on principle of the Balfour Note. We nave to pay £33,000,000 yearly and are actually now getting about £32,000,000 from Europe. Thus we are on the point of achieving the position aimed at in the Balfour Note. We shall do everything in our power to maintain that position in the future.”.