WAR DEBT CONTROVERSY

Poverty Bay Herald, Volume LII, Issue 16200, 25 November 1926, Page 12

WAR DEBT CONTROVERSY

SETTLEMENT COMMENDED. PHILADELPHIA, Oct-. 13. Henry G. Chilton, charge d’affaires of the British Embassy at Washington, said lie. was gacl the “shouting and tu-mult” over the British war debt had died down. “1 ha YU little sympathy for those who whine about it or complain about it,” he asserted, “because it seems to mu that- in the first place whining and compaining simply reduces our credit und by so much diminishes tliei benefit wo gained by our action, and secondly, liecause it is neither manly nor dignified.” BETTER TO PAY. Air. Chilton, speaking at a- luncheon given by the English-speaking Union and the Transatlantic Society, referred to the debt question by saying he would "venture very cautiously on ground on which angels might fear to tread.” lie added: “My gospel in the matter of debts, whether public or private, is that it is better for tlm debtor to pay them if he can or at least as much as ho can. for by doing so, lie re-establishes coafiaehce in his integrity and reacquires credit, which, as we a know, is the keystone of all business and prosperity. "You many, however, be certain that in spite of the criticisms of certain writers in the press, and even certain experts in finance and political economy, who, like) the meanest of us, are entitled to their own opinions, every possible British Government official and the. large majority of plain men in Great Britain feel glad that the debt settietnont with the United States was made.

‘‘For tlu: moment, fortunately, the shouting and tumult with regard to this question has died down and l trust it will nut- be revived.” Mr. Chilton differed with the recent pessimistic prophecy by Dean Inge of St. Paul’s Cathedral in London, that England practically was done for as a world power, . I 'l must of course admit,” he said, “that the coal strike is causing ns temporary embarrassment and lias to some extent hampered our trade, but I can tell you this, that Croat Britain is by no means down and out.”