BRITAIN’S SURPLUS

Hawke's Bay Tribune, Volume XXIV, Issue 95, 5 April 1934, Page 7

BRITAIN’S SURPLUS

And War-Debt Revision

CASE MAY BE PREJUDICED

By Telegraph—Press Assn.—Copyright, NEW YORK. April 3.

The "New York Times’ ’’ Washington correspondent Bays: "The British Treasury announcement of a surplus will prejudice Britain’s case for war-debt revision in the opinion of administrative officials here who have followed the various attempts to negotiate new agreements. The effect on American public opinion, it Is believed, will be to lose sympathy for the British position.

"The feeling is growing that Mr Roosevelt’s war-debt message, which has so long been promised, wilt be confined to a recommendation that a new funding agreement bo negotiated with Finland, as she is the only country which has paid in full to date. The object of such a move would be to shame the other debtors and hold out to them a concrete reason for paying their arrears.

"While the British surplus has not altered the merits of her case in the minds of officials, they fear popular reaction against sponsoring debt relief with a deficit here contrasting with the surplus in Britain. “It is pointed out that Britain never pleaded inability to pay, the position being that the carrying-out of the existing funding agreements would be inexpedient. ” REFLECTION ON 'CHANGE British Official Wireless Service. RUGBY, April 3. The effects of the favourable national revenue figures were reflected in the strength of British Government stocks when the Stock Exchange opened after the holiday. Not only is the surplus the largest for a number of years, but certain items, including death duties, Customs revenue and profits from the Post Office, have exceeded all previous records. The revenue returns were closely examined in the City, and a most favourable view was taken of the situation.