ALLIED DEBTS.

Star (Christchurch), Issue 17159, 1 October 1923, Page 10

ALLIED DEBTS.

POLICY OF AMERICA. By Telegraph—Press Association—Copyright. Australian and N.Z. Cable Association. NEW YORK, September 29. The Washington correspondent of the “New York Evening Post” says that the bankers’ resolution in favour of participation in Europe’s financial problems fell on deaf ears in official circles. President Coolidge's administration. like that of President Harding, looks favourably on the proposal to widen the powers of the American Debt Commission and the appointment of a representative on the Reparations Commission, but President Coolidge could not, if he wished, make Allied indebtedness part of the reparations question. Congress previously indicated its opposition to such a proposal, and cannot be expected, during the coming session, to show any change in its attitude. President Coolidge and his advisers, moreover, agree with the Congressmen on this point. They wish to keep reparations and debts two separate questions. Official circles derive some satisfaction from the fact that the resolution indicates that American financiers realise that America's economic destiny

is closely allied with European tranquillity. The Administration furthermore feels that, in the interest of European peace, the United States may postpone the payment of some of the Allied debts for a number of years.