WAR DEBTS

Hawera Star, Volume XLVII, 26 October 1928, Page 5

WAR DEBTS

DIFFICULTIES IN EUROPE.

AN APPEAL TO AMERICA. NOT TO INTERFERE. . United Press Association—By Electric Telegraph Copyright.) (Australiall Press* Association —United Service.) NEW YORK, Oct. 25. “England had no desire to reopen the debt question with the United States,” said' Lord. Meichett to-day at a conference representing the major industries. England asked America, if it wished to take no part in the settlement of the German reparations problems, “at least not to get in her way. ”. . “Our difficulties in Europe are great enough,” said Lord; Meichett, “but we feel we are competent to deal with European problems. . “Whenever an attempt is made in Europe to come together we are always greeted with suspicion andl hostility on the part of the people on this side of the Atlantic Ocean, who attribute to ns. all kinds of motives which never enter our hehdis.”

BRITAIN'S MAXIMUM CNTRIBUTIONS. MAINTENANCE OF BALFOUR NOTE. WELCOMED BY THE PRESS. (British Official Wireless.) RUGBY, Oct. 24. The reaffirmation by the Chancellor of the Exchequer (the Rt. Hon. Winston Churchill) 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 contributions 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,OCX), everything except what is needed to pay her American creditors' for munitions andl supplies bought from' them during the war and expended in _the common cause. No further contribution in present circumstances is possible. The “Daily Telegraph” saysi that, although it was always inconceivable that any British Chancellor-should fail to. protect, the British taxpayers against imposition for the relief of the taxpayers of other countries of furthere taxes arising out of the war, Mr. Churchill’s statement is timely. The “Morning Post” thinks it well that, before the conference is summoned for the considering of 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 reconstruction of the provisional Dawes plan and replacing it by arrangements which, bv 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 word's, give Germany a. definite task to perform on her own responsibility. without foreign supervision.

The “Guardian” recognises that, although the transfer protection under the Dawes plan was devised l in Germany's own interests, it is naturally disliked in Germauy. British interests in the matter appear, however, to be confined to peeing that the- revision of the l Dawes plan is not carried through at- our expense. If other countries press for revision', well and good'. So far as we are concerned we should be quite willing to leave matters as thev are-. for the time being. The British position is that we have already cut our claims down to the minimum necessary to met our obligations to America. There is nothing in the actual record of events to suggest that the existing scale of payments imposes noon Germany hardships incompatible with her satisfactory economic developments.