DEBT CANCELLATION.

Waikato Times, Volume 112, Issue 18776, 26 October 1932, Page 7

DEBT CANCELLATION.

MUSSOLINI’S PROPOSAL. WASHINGTON CIRCLES SILENT. AWAITING THE) ELECTION. United Press Assn, —Elec. Tel. Copyright, WASHINGTON, Oct. 24. Ofilolals of the State and Treasury Departments to-day remained silent about Signor Mussolini’s suggestion that the United States should cancel or reduce war debts. All the indications are that the authorities will not allow this Issue to be injected into the political campaign. Their attitude toward Interest and instalment payments due on December 15 remains problematical. The Treasury Department merely reiterated that only three nations — Estonia, Latvia and Poland—so far have requested postponements. The general opinion ex-pressed is that inasmuch as the European nations are awaiting the United States elections on November 8 to press the issue this Government must await their actions before formulating a policy. LONDON, Oot. 24. “If I had any say I would drop the whole business and start afresh,” said Mr Charles Schwab, chairman of the' Bethlehem Steel Corporation. Mr Schwab was speaking of war debts, and added: “America did not make Britain’s sacrifices in man power, and might well contribute her money. We had plenty of that. An all-round cancellation of war debts would do more good than anything else.” Mr Schwab also said Britain was making better progress than anyone else. ,“ I want to see Britain prosperous,” he said, “ because that would mean prosperity for the United States. The two English-speaking nations must progress hand in hand."