Evening star., 1923-02-03

ilOHtlIueu ITpln r lrSI fdEe-b
tails of the agreement had prompted
favorable comment everywhere and
that the prospects at present seemed
good for consummation Of the agree
ment through ratification by Con-
gress. Some opposition was believ-
ed to be brewing among certain ele-
ments. but indications from both
democratic and republican ranks so
far were taken in administration
circles as failing to develop sufficient
opposition to the terms TO threaten
ratification.
President Harding feels elated over
the successful outcome of the nego-
tiations. 1t was revealed yesterday
terms will be acceptable to the Ameri-
can public.
The American people have been
fortunate. in the opinion of President
ment from Great Britain, and might
be congratulated on the conclusion
OF the negotiations.
Although the President was said
gress. he has placed himself In direct
opposition to any riders on the legis-
lation carrying ratification. No sold
iers' bonus bill should be tackled on,
the President thinks. nor should there
be any kind of amendment added
which would provide for disposition
of the money. 1t would be undigni-
fed. to say the least. the President
was said to believe, if the Congress
money money from a foreign government
should be spent. aside from being ap-
piled on the victory and liberty bond
sinking fund.
Opposes Bonus Rider.
Secretary Mellon also has effectuai-
ly declared his opposition to the SOL
diers' bonus rider. or any other re-
strictive legislation which would at
tempt to say how the money should
be spent. The law already prescribes.
he pointed out, that such payments
shall be applied to redemption OF the
victory and liberty loan securities.
The settlement reached between the
representatives of Great Britain and
the United States, In substance. fol-
ously been announced as the Ameri-
mission. Both in point of the inter-
est rate and the length of time for
payment, the agreement Is more lib
|. . eral than the terms laid down by the
Foreign Debt Commission. 1t rep
ressnts, according to officials of the
commission the best terms which the
Americans could offer and expect to
get ratified by Congress In case they
were accepted by the British.
The agreement provides that the
interest already paid by Great Brit
ain tmore than sloo,ooo,ooo) shall be
applied at the rate of Az per cent
up t6 December Is. 1892; that a GER
tain odd cash sum shall be paid to
bring the debt to the even figure OF
"a. 6OO, 900, 900, for which the British
government will offer to the United
States British government bonds.
This sum will be paid. under the
agreement, by annual installments,
beginning at $2a, 600, 900. increas-
ing up to SITS 200, 900 in the sixty
second year, with the interest rate
fixed at per cent for the first ten
years, and 3M for the remainder.
There are also additional conces-
sions to Great Britain. For the first
five years, for instance, the interest
may be deferred and added to the
principal, bonds to be issued for the
amount and added to the principal Of
the debt. The British also have the
right to pay of additional amounts
of the principal OF the bonds on any
! interest date upon ninety days pre-
vtons notice. Payments either Of
principal or interest may be made in
,, United States government bonds is
sued since April 8, 1917.
THE. interest payMSnte fall duS semi
annually, June .1k and December Is.
Tho question OF tha soldier bonus