WAR DEBTS

Manawatu Standard, Volume LIII, Issue 61, 8 February 1933, Page 7

WAR DEBTS

BRITISH SETTLEMENT PLAN. LUBIP SUM BASIS. REPORT IN UNITED STATES. (United Press Association—By Electric Telegraph.—Copyright.) Received February 8, 8.45 a.m. WASHINGTON, Feb. 7. Widespread interest is created by London despatches describing the prospective British war debts settlement plan on a lump sum basis involving amounts from 1,250,000,000 to 2,000,000,000 dollars. For some time reports have been current that Britain will make a lump sum offer for a final settlement, but usually the sums mentioned have been under a billion dollars, or'more in line with the Lausanne agreements. In each case, however, official “Washington has maintained the strictest silence and that was true again to-day. Observers are inclined to place stress on tlie fact that the reports of a British offer came at the same time as Sir Ronald Lindsay went into conference with the Cabinet. Sir Ronald Lindsay is supposed to have with him a vast amount of information direct from Blr F. D. Roosevelt.

Representative Rainey (Illinois) expressed to newspapermen the opinion that “the American people will never stand for a British lump sum proposal whereby Britain would out threefourths of her debt away.”

The amount loaned by the United States to Great Britain, was 4,277,000,000 dollars, and after the funding arrangement Britain agreed to pay 11,105,000,000 dollars (including interest and principal). To date Britain has paid 1,912,000,000 dollars.

CABINET CONSULTATIONS.

STRICTEST SECRECY,

LONDON, Feb. 7. Tlie strictest secrecy is being observed concerning the Cabinet consultations with the British Ambassador to the United States, Sir Ronald Lindsay, who has arrived in London. It is believed the British view will be ready at the end of the week for communication to the Ambassador, who will return to the United States and convey it personally to the President-elect, Blr F. D. Roosevelt.