THE WASHINGTON CONFERENCE.

Manawatu Times, Volume XLVI, Issue 2004, 21 December 1921, Page 4

THE WASHINGTON CONFERENCE.

Writing on the day following Mr McKenna's speech, the Washington correspondent of the "Morning Post' said; —"Any hope of the Washington Conference revealing the United States as a lenient creditor is illusory. Jt was with the purpose of checking agitation for the cancellation of the debt that the Administration used its influence to secure the passage of the Refunding Bill by the House before meeting the conference. The vote by which the Bill was Passed and the tone of the debate gave unmistakable evidence of the refusal of Congress to abate the debt, and of its firm conviction that the debtor counties are not entitled to leniency, but must meet their contractual obligations. In proof of this and to tie the hands of the Administration in case it should want to display gen.' 1 J?m expllc-

itly prohibits the American Government from accepting from any foreign Government bonds of any Government except those of the Government with which .settlement is made; thus France could not tender German reparation bonds ia lieu of her own bonds. The Bill further prohibits "cancellation of any part of such indebtedness except through payment thereof." In his message to Congress on December G, President Harding urged the prompt passage of the Foreign Debt Refunding Bill by the Senate.