BRITAIN'S WAR DEBT.

New Zealand Herald, Volume LX, Issue 18298, 15 January 1923, Page 7

BRITAIN'S WAR DEBT.

AMERICAN NEGOTIATIONS, EARLY CONCLUSION EXPECTED .."; ■-''-.'.■/.'-'■' ■■''■ ■'* ""•;■■ " "-'■--.■"..:'/' . '-'-:::'+ - ; /, ''.'', I PRESIDENT SOUNDS CONGRESS. I By Telegraph-—Press Association—Copyright, j ."-.-■-:■:■- -.:■■:■■■■-. (Received 4.5. p.m.) -. .■,;..- j A. and N.Z. / // WASHINGTON. Jan. 12. i It /is /learned : that ;at the ./meeting: of the/United States and British Debt Funding Commissions to-day , the chief point; of discussion /was that of/ adjusting instalment payments so as': to avoid serious fluctuations of international exchange and trade. The situation regarding reparations has . not' yet been discussed, nor have, questions of rates, of interest or time of ultimate payment. : The .conversations . to. date have included consideration of a plan of instalment .payments!' on a yearly .basis/arid the amount of money that might be transferred overseas annually without damaging ■ both American and British trade. Tlie. Secretary of the Treasury, Mr. A. W. Mellon, announced 'that he expected that the negotiations would be concluded : by; Januaiy- 20, when the British commissioners had arranged to return.home. If the- new funding, legislation was not approved by the present session of Congress, added Mr. Mellon, no special session would "be called and .the . matter would., deferred ; until ■ the next regular Congress. // / .;" ' ;/ ; -/ .-.'., /It is stated /at White : House' that the President believes that legislation' amending the debt finding law will be passed in the present,i session ,of CongresV- The President's! ; view, is based ;on a. conference with ■ leaders- of the House of . Representatives concerning the debt negotiations. No Congressional move -will bo made; until the United States Debt Commission has reported its findings. /' '■■■■/ ■•:"■- -v ::■/-- ■'/'///"; ■■ '/ .■-"'■ "' ' --••" l i .1. ;