FUNDING WAR DEBTS

Otago Daily Times, Issue 18758, 11 January 1923, Page 5

FUNDING WAR DEBTS

AMERICA’S INTENTIONS. BRITISH ARRANGEMENTS WILL APPLY GENERALLY. Press Association—By Telegraph—Copyright WASHINGTON, January 9. (Received Jan. 10, at 5.5 p.m.) A White House spokesman has officially announced that none of the nations that owe the United States war debts can fund their obligations within the limita tions imposed bv Congress. It us stated that the American Debt Commission will obtain the best possible terms for the funding of the British Debt, and then report to President Harding, who will Bulxnit their recommendations to Congress for a modification of the law. Congress will lie informed that such a step is necessary if America is to receive payments iii the near future. Pending such a recommehdation and Congressional consideration, the British mission will return to England to come to Washington again when, aneb if, Congress agrees to the suggested terms. Such extended maturities and modified interest terms as are approved will be extended to all the other debtor nations that enter into funding negotiations with the United States.—A. and N.Z. Cable.