Arizona republican., 1921-07-15
BRYAN WOULD WELCOME CANCELLATION 0F INTER GOVERNMENTAL WAR DEBT
IRepublican A. P. Leased wirel

IRepubltcan A. P. Leased WtreJ
 WASHINGTON. July 14-Premier Lloyd George of Great Britain in a letter to President Wilson in August. 1920. referred to suggestions that the intg-- allied debts be reciprocally can celled, and asked MT. Wilson's ad- vice as to the best method by which the whole problem could be consid- cred and settled by the United States government in concert with it's asso-7 ciates at the earliest possible moment that the political situat tion in Amer ica makes 1t possible. The British chancellor of the exchequer six months earlier had cabled British treasury official in the United States declaring we should welcome gen. Pera1 cancellation of inter-gcvernment- al war dcbts."
 This information was given today by treasury officials who appeared before the senate finance committee considering the administration bill to give the secretary of the treasury abroad powers in refunding the al- lied debts to the United States. As- sistant Secretary of the Treasury Wadswortl1 upon request. read into l the committee record a lengthy ex- 1 tract from Premier Lloyd Georges s letter and part of the British chan l ccllor's program The latter was ad- l dressed to R. C. Lindsay, the Brit I isi treasury representative and in turn referred by him informally to R. c. Leffingwell, then assistant secre- tary of the treasury. The two com lnunications brought immediate eues- l tioTs from members of the commit I tee and a settlement from Secretary | Mellon that the cancellation sugges- | |, hraochad n him since he assumed office and would 1 not be considered if made.
 Premier Lloyd George in his let ter to President Wilson. under date | of August $, 1920, wrote as follows:
 q now come to the other question | I wish 10 wrlr 70 you about and that
 is the knotty question of inter -allied I indebtedness. Indeed, promised MT | Rathbone (the American unofficial
 representative on the reparations
 conimissIoE) long ago that I would
 write to you about it, but I have had
 to put it off for one reason or anoth-
 CT until now.
 "The British and French govern
 nents have been discussing during
 the last four months the question ol
 fixity and definteness of Germany $
 reparations obligations. The British government Has SlOOQ SttcdilN by lfie
 view that if was vital that Germany's
 liabilities should be fixed at figure
 which it was within the reasonable
 capacity to pay. and that this figure
 should be fixed without delay be-
 cause the reconstruction of Centra
 Europe could not begin nor could the
 allies themselves raise money on the
 strength of German, obligation tt
 pay them separations until their ia-
 bilities were exactly defined.
 MilIerand Points Way "After great difficulties with hi. own people, NJ. Millerand found him self unable to accept this view but he pointed out that it was inn possible for France to accept nothin;
 less than it was entitled to under tn treaty unless its debts to the allie and associates were created in tn same way
 :. This declaration appeared to tn British government eminently fair s but after carefu; consideration the
 came to the conclusion that it wa : impossible to remit any part of wha Y was owed to them by France excep | as part and parcel of an all aroun r settlement of in'e 'er-allied indebted
 ness.
 'I need not go into the reason fl which led to this conclusion whlc O must be clear to you. But the prin Il cipal reason was that the British pub
 lie opinion would never support II one sided arrangement at it's sole ex T pense and if such a one sided ar y engagement were made it could nc II fail to embitter the relations betwee q the American and British people, wit II calamitous results to the future of th world.
 - You will remember that Grea
 Britain borrowed from the Unite ar States about half as much as it I'd total loans to the allies. and afte al Americas entry into the war it Ter le to the allies almost exactly the sam of amount as it borrowed from tn d. United States. Accordingly, tn E. British government has informed th IS French government that it will agre sl to any equitable arrangement for tn S.
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