INTERNATIONAL DEBTS

Waikato Times, Volume 111, Issue 18660, 11 June 1932, Page 5

INTERNATIONAL DEBTS

LAUSANNE CONFERENCE

LITTLE SIGN OF AGREEMENT.

MODIFIED FRENCH ATTITUDE.

United Press Assn.—Elec. Tel. Copyright, LONDON, June 10.

Although the meeting between the British and French Prime Ministers, Mr MacDonald and M. Herriot, is welcomed everywhere there is still little sign of a permanent agreement being reached at the Lausanne Conference.

According to the Daily Telegraph, official circles in London expect the procedure at Lausanno to be somewhat as follows: —Germany 'to declare her inability ever to x’esumo payments of reparations. France not to accept this position. The immediate result ito be an extension of the moratorium until the end of this year, the appointment of committees and an adjournment to ’be followed by a World Economic Conference in London in October.

Adjournment Till November.

At the London conference it is thought there, will be a similar appointment of technical committees followed by an adjournment during the elections in the United States in November, and a ro-emergence as a plenary conference when America’s policy has been restated. The London and Lausanne Conferences, in the light of such restatement would enter upon their final stages at the end of the year and attempt to reach decisions.

It is understood that with the advent of M. Herriot the Frenoh attitude has undergone modification. It is believed that the French Government might even consent to the cancellation of Allied war debts or that Britain might agree to join France, Italy, Belgium and the other Powers concerned In serving notice on the United States Government of their inability to pay their debts since they themselves are receiving no more payments from Germany.

It is reported from Berlin that the Chancellor, llerr von Papen, has decided to go to Lausanne. He will leave on Tuesday. Britain’s Burden.

The Financial Secretary to the Treasury, Major W. E. Elliot, was asked in the House of Commons what was the amount included in Britain's war debt to the United States represented by guarantees given by Britain for material supplied direct to France on French account.

Major Elliot replied that the British war debt to the United States contained no specific items of the kind referred to. The position was that if Britain had not had any calls for assistance from her allies it would have been unnecessary for her to have asked for assistance from the Unitod States.