THE DEBTS PROBLEM.

Poverty Bay Herald, Volume XLIX, Issue 16042, 1 February 1923, Page 3

THE DEBTS PROBLEM.

AN EXACTING BARGAIN

il!lec Tel. Copyright—Unlteti Press Assn.t (Australian and N.Z. came Association.:

•’ WASHINGTON, Jan. 30. Representative Kitchen, who is a member of -thei House Ways and: Means Committee, said: “When the United States granted! loans to the Allies. I cautioned members of the Committee against the tremendous posti-war propaganda to have Allied' 'debts cancelled', and' the' Secretary of the Treasury assured 1 me that payment would' be demanded 1 in full, otherwise the committee would! not have voted' the Loan Bills. It will be time enough for. patriotic Americans to consider foreign, debts when holders of rnur war bonds /signify their willingness to release the U.S.A. from- their obligations to them.” , OTTAWA, Jan. 31. At Montreal, Sir Robert Horne, in a speech, said' that Britain would pay the debt to the United States in full, but we are entitled to a. loss exacting bargain, than was arranged during the war. It must be- remembered' Britain not. only left the amount of the loan acash in atlioi United 1 States, but the total amount of money spent there by her exceeded 1 the British debt to the United! States. Britain, if she made a full return of the debt now, would l be paying more than she originally received d'ue to the difference of cross rates, now and then.

BRITAIN ACCEPTS AMERICAN TERMS. I •Australian and N.Z. Cable Association.! (Received Feb. 1, 8.55 a.m.) LONDON, Jan. 31. Britain hag accepted the American debt, terms. UNSATISFIED DEBTS OF . . SOUTHERN STATES. (Received Feb. 1, 9.10 a.m.). LONDON, Jan. 30. The Daily Express says : In view of >the American demands for the strictest honoring of Britain’s obligation’s, it, should be pointed' out that, a number of the Southern States owe Britain .12 millions sterling, borrowed l for public im-' provementis fortv-seven vears ago.