GENEROUS RELIEF OFFERED.

Timaru Herald, Volume CXXXIV, Issue 18914, 27 June 1931, Page 13

GENEROUS RELIEF OFFERED.

London Newspaper Estimate. SAVINGS TO OVERSEAS DOMINIONS. United Press Association—By Electric Telegraph—Copyright (Received June 26, 7.40 p.m.) LONDON, June 25. “The Morning Post points out that the British war debts concession to the Dominions, together with the previous sinking fund remission, should mean a saving of Australian expenditure and remittance abroad of £4,500,000, which together with the contemplated economies and saving of interest on internal debt, should materially aid the Budget position, as well as Australian credit. APPRECIATION IN SOUTH AFRICA , GENERAL SMUTS' CONTINUANCE OF PAYMENTS. United Press Association— By Electrle Telegraph—Copyrlghs (Received June 26, 7.30 pun.) CAPETOWN, June 20. General Smuts referred to President Hoover’s offer as the most outstanding event in recent years. All the world looked to America for help, and she had not failed. Referring to the British offer to the Dominions, General Smuts said It would help Australia to re-establish herself. "So far as South Africa is concerned, we are in a position to pay our debts and must do so. We have never had to accept a moratorium, and it would be a climb down, If we did so now. I hope our Government, which has talked so much of South Africa first, will put South Africa still first, and continue to pay Its debts. The Government should thank the British Government for the generous offer, but should refuse It.”