FUNDING WAR DEBTS

Otago Daily Times, Issue 18764, 18 January 1923, Page 7

FUNDING WAR DEBTS

DEADLOCK AT .WASHINGTON, Press Association—By Telegraph—Copyright WASHINGTON, January 16. (Received Jan. 17, at 7.26 p.m.) The American and British Debt Funding Commissions have virtually reached a deadlock over the adjustment of interest, upon which question the British sought for a 48-hour postponement to communicate wth the Home Government. It is understood that the British delegation informed the Americans that it had been instructed to remain firm in insisting on a long maturity period and interest as low as three per cent., to which the American Commission did not agree. It is believed that Mr Norman will remain for some time should an agreement not be reached.—A. and N.Z. Cable. SENATOR TWITS BRITAIN. WASHINGTON, January 16. (Received Jan. 17, at 8.5 D.m.) Senator M'Kcilar in a speech said that Britain was maintaining the most expensive Army in the world, and was financing purchases of oil land in various parts of the world by lending money to foreign countries. She was well able to pay her war debt to the United States. In every transaction they had with Britain during the war she put the matter on a business basis. “She charged us for everything, and we have paid fully. Now Britain should pav us.”—A. and N.Z. Cable. _ WEST INDIES PURCHASE. ADMINISTRATION AGAINST IT. \ WASHINGTON, January 16. (Received Jan. 17, at 7.25 p.m.) White House has intimated that it does not favour the suggestion to settle the British debt by the purchase of her West Indian possessions. The Administration does not care to be burdened with any additional possessions at this time, feeling that it has Sufficient to do in attending to the administration of the PhilHppines and I’orto Rico.—A. and N.Z. Cable. AN AMERICAN FORECAST. NEW YORK, January 16., The New York Tribune’s Washington correspondent learns from excellent authorities that the British Commission proposes to make as annual payment of interest and principal of the debt the sum of £37,000,000. Complete repayment will be made in 40 years.—A. and N.Z. Cable.