DEBTS ATTITUDE

Taranaki Daily News, 13 February 1933, Page 7

DEBTS ATTITUDE

AMERICAN OPINION FORMS NECESSITY FOR CONCESSIdNS TERMS FOR MODIFICATION DEMAND FOR QUID PRO QUO RETURN FOR “SACRIFICES” / * . By Telegraph—Press Assn.—Copyright. Rec. 7.25 p.m. Washington, Feb. 11. Further crystallisation of the American attitude that Europe must make concessions for • any modification of debts seems indicated by various expressions of opinion to-day from bi-partisan sources. Senator Lewis in a speech in the Senate called for the cancellation of the plans for a review of British debt if it should be confirmed' officially that Sir Ronald Lindsay, British Ambassador to the United States, had been instructed to inform the United States that Britain contemplates no quid pro quo. The secretary to the Treasury, Mr. Ogden Mills, in a speech at Kansas City tonight declared that the American people were entitled to compensatory advantages for the sacrifices they might be called upon to make and insisted that debtor nations could fairly be asked to make definite contributions to a common programme intended to remove the barriers which now stand in the way of a return to prosperity. The Democratic leader of the House ofi Representatives, Mr. Henry Rainey, speaking before the Washington College of Law, declared that the European suggestions for a ten per cent, lump sum payment in settlement of debts would not be acceptable and issued a warning that repudiation would be an unfriendly act which was sure to be followed by adequate measures of retaliation. Mr. Silas Strawn, in an address given by radio from Chicago, declared that organised business believed that any fair settlement should assure access for American goods to European markets on a fair competitive basis. BRITISH CABINET MEETINGS. SIR RONALD LINDSAY’S RETURN. British Wireless. Rugby, Feb. 10. To-day’s meeting of the Cabinet committee on war debts at which Sir Ronald Lindsay, British Ambassador at Washington, was present, lasted about two hours. A further meeting has been arranged for Monday morning and a meeting of the full Cabinet will take place in the afternoon. Sir Ronald Lindsay will probably return to America in the Majestic on Tuesday. '