BRITAIN’S DEBT.

Star (Christchurch), Issue 16940, 15 January 1923, Page 5

BRITAIN’S DEBT.

THE FUNDING COMMISSION. By Telegraph—Press Association—Copyright Australian aud N.Z. Cable Association. WASHINGTON, January 12. It is learned that the Debt-Funding Commission’s chief point of discussion to-day was that of adjusting the instalment payments, so as to avoid serious fluctuations in international exchange and trade. The reparations situation has not yet been discussed, nor have the questions of the rates of interest or the time for the ultimate payment. The conversations to date have included consideration of a plan for instalment payment on a yearly basis, and the amount of money that might

be transferred overseas annually without damaging both American and British trade. Mr A. W. Mellon, Secretary of the Treasury, announced that it is expeoted that the negotiations will be concluded by January 20. when the British delegates are scheduled to return. If new funding legislation is not approved by the present session of Congress, no special session will be called, the matter being deferred until the next regular sessions of Congress. LEGISLATION THIS SESSION. By Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. WASHINGTON. January 13. It is stated at White House that President Harding believes that legislation amending the debt-funding law will be passed during the present session of Congress. The President’s view is based on a conference with the House_ leaders concerning the debt negotiations. No Congressional move will be made until the American Debt Commission has reported its findings.