A DEADLOCK.

Timaru Herald, Volume XCVIII, Issue 18029, 18 January 1923, Page 7

A DEADLOCK.

OVER DEBT FUNDING.

BRITAIN IS CRITICISED.

“MOST EXPENSIVE ARMY.” By Cable—Press Association —Copyright. (Received 11 p.m., January IT.) NEW YORK, Januaiy 17. The American and British Debt Funding Commissions have virtually reached a deadlock over the adjustment of interest upon which question the British sought a 48-hour postponement to communicate with the Home Government. It is understood that the British delegation informed Americans that it had been instructed to remain firm, insisting on a long maturity period, and on interest as low as three per cent., to which the American Commission did not agree. It is believed that Mr Mom tague C. Norman will remain in the United States for some time, should an agreement not he reached.—A. and N.Y. Cable. RATHER AN OUTBURST.

By Cable—Press Association—Copyright. (Received 1 a.m., January 18.; WASHINGTON, Jan. 16.

Senator McKellar, in a speech said that Britain was maintaining the most expensive army in the world, financing purchases of oil land in various parts of the world, lending money to foreign countries, and was well able to pay her war debt to the United States.

He added: “In every transaction we had with Britain during the war, she put the matter on a business basis. She charged us for everything. We have paid fully. Now Britain should pay us!”— A. and N.Z. Cable. AMERICA—WEST INDIES.

By Cable—Press Association —Copyright. (Received 11 p.m.j, January IT.) WASHINGTON, Jan. 16. The White House has intimated that it does not favour the suggestion to acquire the British debt (regarding the annexation of the West Indies). The Administration does not, care to he burdened with any additional possessions, at this time, feeling that it has sufficient in attending to the administra-' tion of the Philippines and Porto Rico.—A. and N.Z. Cable.