THE AMERICAN REPLY

Poverty Bay Herald, Volume LIX, Issue 17958, 9 December 1932, Page 5

THE AMERICAN REPLY

WAR DEBTS PROBLEM PAYMENT MUST BE MADE SUBSEQUENT READJUSTMENT (Elec. Tel. Copyright—United Press Assn.) NEW YORK, Dec. 8. The New York Times’ Washington correspondent says that the reply to Britain’s debt note was completed by Mr 11. L. Stimson last night for immediate delivery. According to an authoritative indication it gives London reason to hope that a debt readjustment can be arranged after payment on December .15 is made.

Mr Stimson handed the United States reply to the British Ambassador last night. The contents are not made public, but it seems likely that it will follow the tenor of the other recent United States notes on. the debt sub-ject—-that the December payments will he expected from debtors; that Mr Hoover is to recommend the creation of a. debt commission; and that any alteration of the debt agreements will rest solely with Congress. The reply to the French note will shortly he made, ami then the responses to other nations. A note was received to-day from Belgium, asking for the postponement of her debt.

DEBATE IN HOUSE

ANTAGONISM TO FRANCE WASHINGTON, Dec. 8. A brief debate occurred unexpectedly in the House of Representatives when Mr Treadway, a member of the Ways and Means Committee, asked that the question of revision should be held over until the new Administration comes into power, with a changed personnel in control of Congress. He criticised France, saying: “There is an impression in this country that it is not a question of inability to pay, but of expediency, with the party in power. We are informed that the Chamber of Deputies will not vote to authorise the payments. That is a matter for their own honor.” Mr Fish advocated the revival of the Debt 'Commission to declare that the British settlement was too high.

Mr Blanton said: “1 would like to make it a penitentiary offence to lend France another dollar.”

BRITAIN TO PAY IN GOLD

LONDON, Dec. 8.

The Morning Post understands that the Government has decided to pay the debt instalment on December 15 in gold. Arrangements for making the payment have been completed.