TOKEN PAYMENTS

Otago Daily Times, Issue 22257, 9 May 1934, Page 7

TOKEN PAYMENTS

NOT ACCEPTABLE TO AMERICA STATEMENT IN THE SENATE (United Press Association.) (By Electric Telegraph—Copyright.) WA SHINGTON, May 7. (Received, May 8, at T B p.m.) . The statement that token payments would not be accepted from debtor nations next June 15 was made to-day in the Senate by Senator Hiram Johnson, author of the law which forbids Americans from having financial dealings with debtor nations that are in default. Senator Johnson said: " I am perfectly sure that token '■ payments will not be accepted by our Government," adding that the nations that had not paid their debt commitments in full would be in the category of defaulters after .Tune 15.» A protest was taken to the State Department toiday by the Russian Ambassador (M. Troyanovsky) against the opinion of the Attorney-general (Mr H. S. Cummings) last week that Russia was in default. - The debt discussion .sprang up and broadened to-day after the Speaker of the House (Mr H. T. Rainey) said a new debt settlement with Finland was being worked but and it might become the basisfor a settlement of other foreign debts. /•'•'"' There was no comment at White House on the position. The State Department has been working on the agreement with Finland for some time, but in some quarters it was said that the application of such agreement to other nations, probably would depend upon their putting themselves on the same fully paid up status as Finland.