War Debts

Inangahua Times, 2 April 1936, Page 3

War Debts

Senator Borah places the Allies’ default in payment of war debtß to the United States in the same class ps Germany's violation of the Treaty of Versailles and the Locarno Pact. The United Kingdom borrowed from the United States during the Great War 4277 millions of dollars, and has paid in principal and intertst 2024 millions. Yet the net principal outstanding (excluding accrued interest 214 millions) is 4368 millions In the same periods France borrowed 3404 millions of do'lars, repaid 486 millions, and has outstanding 3863 mi li »t s Italy’s position also in the Bame period o , was : Borrowed, 1648 millions of dollars ; repaid, 100 millions ; outstanding, 2004 millions. The total indebtedness of the United Kingdom to the United ] States in pounds, on account of war debts, is £1.295.000,000. Although the United Kingdom paid 232,000,000 t dollars off the principal (apart from a interest) the debt has increased by , 36 per cent, in terms of pounds in the - meantime. This is due to the deva'uar tion of tbe pound. Mr Neville Chanberlain, Chancellor of the B Exchequer, considers that it would be j better for the world were there an all - . round cancellation of war debts.