DEBT FUNDING

Otago Daily Times, Issue 18761, 15 January 1923, Page 5

DEBT FUNDING

NEGOTIATIONS NEARLY ENDED. Press Association—By Telegraph—Copyrignt WASHINGTON. January 12. (Received Jan. 14, at 5.5 p.m.) It is learned that the Debt Funding Commissions’ chief point of discussion today was that of adjusting the instalment payments so as to avoid serious fluctuations in international exchange and trade. The reparations situation has not yet been discussed, nor have the questions of the rate of interest or the time for ultimate payment. The conversations to date have included consideration of a plan for instalment payments on a yearly basis, and the amount of money that might be transferred overseas annually without damaging both American and British trade. Mr Mellon (Secretary of the Treasury) announced that it was expected that negotiations would be concluded by January 20, when the British delegates were scheduled to return. If the new funding legislation was not approved by the present session of Congress, no special session would be called. The matter would be deferred until the next regular meeting of Congress —A. and N.Z. Cable. EARLY LEGISLATION EXPECTED. WASHINGTON, January 13. (Received Jan. 14, at 11.25 p.in.), It is stated at White House that President Harding believes that legislation amending the Debt Funding Law will be passed during the present session of Congress. The President’s view is based on a conference with the House leaders concerning the debt negotiations. No Congressional move will bo made until the American Debt Commission has reported its findings to tlje Senate.—A. and N.Z. Cable.