WAR DEBTS QUESTION

Otago Daily Times, Issue 21982, 17 June 1933, Page 11

WAR DEBTS QUESTION

THE FINAL SETTLEMENT DISCUSSIONS TO CONTINUE (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, June 15. Discussions with a view to furthering plans for the ultimate' settlement of the war debt will be continued by Sir Ronald Lindsay (British Ambassador at Washington). London political circles consider that a final adjustment largely depends on the course of events at the World Economic Conference, and not for some weeks —possibly not until September—is it likely that a British mission will proceed to Washington. The mission will probably be headed by Mr Neville Chamberlain. Any final settlement would be subject to ratification. FRANCE TO DEFAULT PARIS, June 15. France is notifying Washington that she is not paying thee debt instalment. BRIEF NOTE TO WASHINGTON. PARIS, June 15. (Received June 16, at 7 p.m.) The Government’s Note to America is brief. It recalls the previous Note giving France’s reasons for deferring the debt payment and says that these are unaltered. Cabinet is bound by the resolution of the Chamber in December. DECISIONS OF THE NATIONS 1 RIGA, June 15. Latvia, following Britain’s example, is making a token payment of 5 per cent. PRAGUE, June 15. Chechoslovakia is expected to offer America 10 per cent. HELSINGFORS, June 15. Finland paid her instalment of £29,000. in full. BUCHAREST, June 15. Rumania is paying America under 10 per cent, RECEIPTS BY AMERICA ONLY EIGHT PER CENT. OF INSTALMENTS PAID. WASHINGTON, June 16. (Received June 16, at 8.45 p.m.) War debt payments to-day totalled less than 8 per cent, of the'total of 143,606,000 dollars due under the existing agreement, 11,154,592 being the sum announced by the State Department, representing token payments by Britain and Italy and payment in full by Finland. AH the advances accepted are in silver at the rate of 50 cents an ounce. Italy owed 13,545,000 dollars and paid I, Finland owed and paid 148,592 dollars. Offers to pay 180,000 dollars by Czechoslovakia and 25,000 by Rumania have also been received, but no reply has yet* been made to these nations. Seven countries Belgium, Esthonia, Prance, Hungary, Lithuania, Poland and Jugoslavia—have made neither payments nor offers. Italy and Czechoslovakia asked for a debt review. Latvia paid 6000 dollars on an instalment of 119,609 due. THE PAYMENT OF SILVER INCREASE OF AMERICAN COINAGE. LONDON, June 16, (Received June 16, at 7- p.m.) The Telegraph’s financial editor says: “The silver for Britain’s debt payment will be transferred from the Indian Government’s reserve to 'the United States in order to increase the supply of silver coinage there. As the Indian Government- ! will not replace the silver which it sold no benefit accrues to silver producers. The prominence given to silver by the British method of payment majr increase speculation and raise the price, but unless the United States embarks on an extensive use of silver for coinage purposes the position will remain as before.” OPINION IN AMERICA BUSINESS MAN’S STATEMENT. ( I’ek United Press Association.) AUCKLAND, June 16. An Auckland business man, Mr W. J. Truscott, returned to-dgy from the United States and 'Canada. He said that American business men favoured the concellation, or at least, a readjustment of the war debts, but the mass of the people took an opposite view. However, the people were right behind President Roosevelt, so much so that his government was practically a dictatorship. There was a better business tone, particularly in the Eastern States, and .exporters and manufacturers believed that at last the corner had been turned.