PART PAYMENT OF DEBT

Hawera Star, Volume LIII, 8 November 1933, Page 4

PART PAYMENT OF DEBT

SUGGESTION BY ROOSEVELT NOT DEFAULT BY BRITAIN. CONCLUSION OF NEGOTIATIONS. CLEARER POSITION AWAITED. (United tress Association—By Eleetrio Telegraph Copyright. • Received 11.45 a.nx. to-day. WASHINGTON, Nov. 7. President Roosevelt announced today at the end of the British war debt negotiations that no> agreement had been reached, but with the payment of 7,500,000 dollars of the December 15 instalment the President said he would not regard Britain in default. The negotiations concluded without prejudice "until certain factors in. the world situation, commercial and monetary, became more clarified.” SCALING .D.O3YN. REFUSED, w _ LEVEL OF FRENCH PLAN.' LONDON, Nov. 7. “The war debt negotiations have broken down because America will not countenance a scaling down of Britain’s obligations to a lower level than that which embodies the FrancoAmeriean funding agreement,’’ says the diplomatic correspondent of the “Daily Telegraph.’’ “America, moreover, is unwilling that amounts already paid by Britain in excess of the French scale should be set off against future payments. On this basis basis Britain owed nothing for ten or eleven years. ’ ’