WORLD DEPRESSION.
CANCEL WAR DEBTS AND • REPARATIONS. HON. A. SHAW’S ADVICE Received February 19, 8.5 a.m. . LONDON, Feb. 17.A resolution supporting Britain’s proposal to cancel war debts and reparations, and urging the Ottawa Conference to keep in mind that the exchange of goods is the basis of international trade, and the desirability of reducing and not increasing trade barriers, was moved at the annual meeting of the Chamber of Shipping by Hon. Alexander Shaw. ivir Shaw, v?ho is President of the Chamber and also a director of the Bank of England and deputy-chairman of the P. and 0. Company, made another outstanding speecn, recalling one which he delivered on January 10. On the former occasion he stressed the critical outlook in debt-shackled Europe and the pressing need for a review of international debts. This time Mr Shaw contended that the motion he was putting- forward went to the root of Britain’s troubles—the keeping of 2,000,000 tons of British shipping idle. He recalled that in previous wars Britain gave free subsidies to her Continental friends and had_not sought repayment, hut the Great War substituted repayable loans, on which to-day’s problems rested. Personally, he knew that each .shell his battery had fired created a gold debt in America, plus a German reparation debt to France.
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Bibliographic details
Manawatu Standard, Volume LII, Issue 68, 19 February 1932, Page 7
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213WORLD DEPRESSION. Manawatu Standard, Volume LII, Issue 68, 19 February 1932, Page 7
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