LOANS TO ALLIES.
BRITAIN AS CREDITOR. STATEMENT BY CHANCELLOR. (Received March 11, 6.5 p.m.) British Wireless. RUGBY, March 10. The Chancellor of the Exchequer, Mr. Seville Chamberlain, stated in the House of Commons that the money lent to the Allies during the Great War was borrowed at slightly over 5 per cent, interest. The total amount of war debts covered by agreements was £1,246,000,000, on which interest at 5 per cent, amounted to £62,500,000. The total annuities payable under the agreements amounted to £17,500,000. On that basis, which left out of account any -provision for repayment 'of the money borrowed, the uncovered charge upon thepublic funds was £45,000,000 a jear.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21130, 12 March 1932, Page 11
Word Count
110LOANS TO ALLIES. New Zealand Herald, Volume LXIX, Issue 21130, 12 March 1932, Page 11
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