BRITISH WAR DEBT

Otago Daily Times, Issue 22903, 10 June 1936, Page 9

BRITISH WAR DEBT

AMOUNT DUE TO AMERICA RECENT CORRESPONDENCE (British Official Wlreleas.l RUGBY, June 8. A White Paper issued in London gives the texts of correspondence between the United States Government and the British Embassy at Washington with regard to the British war debt. The Department of State addressed a Note on May 22 to the British Ambassador transmitting the statement of the amount duo half-yearly since June 15, 1933, and including June 15 next under the debt agreement of 1923 and the moratorium agreement of 1932, and reiterating the willingness of the United States Government to discuss any proposals the British Government might desire to put forward concerning payment. The statement shows that the total amount due on June 15 next is 85,(570,705 dollars. In acknowledging the Note and the accompanying statement on June 7 Sir Ronald Lindsay said: “His Majesty’s Government explained in its Note of June 4, 1934, the reasons for which it was reluctantly forced to suspend payments. Those reasons, unfortunately, are no less valid now than they were then. His Majesty’s Government desires me to express appreciation of your assurance that the United States Government is ready to discuss any proposals in regard to payment which may be put forward, and I am instructed to assure you in return that his Majesty’s Government will be glad to reopen negotiations whenever the circumstances are such as to warrant the hope that a satisfactory result might be reached.”

BRITAIN’S TOTAL ARREARS

WASHINGTON, June 8, (Received June 9, at 10 p.m.)

Sir Ronald Lindsay formally notified the State Department that Britain would not make any war debt payment. Other war debtors, excepting Finland, are expected to take similar action prior to June 15, the date on which the payments are due. The instalment owed by Britain is 85,000,000 dollars, making her total arrears 088,000,000 dollars.