Evening star., 1923-02-08
AMERICA TO HOLD
ALL DEBTORS ALIKE
Terms to Other Nations Will
Not Be Easier Than
British.
AGREEMENT IN HOUSE
Ways and Means Committee Told
of Plans by Member of
Commission.
AGREEMENT IN HOUSE

The American Debt Commi ssion does
terms with the other debtor nations
than are embodied in the settlement
agreement reached with the British
government, the House ways and
means committee was told today by
Representative Burton. republican,
Ohio. member of the commission.
That would not be fair to Great
Britain" said Mr.. Burton. That is
the country that has come forward
and helped US with a settlement. II
has, as it were, put a spur behind the
other debtor nations"
Authority Asked.
Mr.. Burton appeared before the COM
mittee in behalf of his amendment to
the existing debt-funding law, which
not only would authorize consumma- :
ton of the agreement with Great
Britain, but would enable the COM
mission to make settlements with the
other nations on similar terms and
subject only to the approval of the
President. There was objection by
committee members to the expression
ing advanced that this left the door
wide open.
The debt commissioner argued tina,
If Congress insisted that the commits
sion report back to it for approval OF
any future agreements it would be
unable to make any such agreements
before next December, as 1t is not
contemplated that the new Congress.
will be called in extra session.
II think l can speak for the COM
mission when l say that we would
Just as soon refer any future agree
ments to Congress-" said Mr.. Burton
but / do not think that arrange
ment would permit us to function lr
the most effective manner"
Information Guarded.
Questioned by democratic members
Representative Burton went into init
mate details of the negotiations he.
tween the British and American com
missions. but his statements in thi.
connection were given the utmost con
fidence and were not made a part o.
the official record of the proceedings
Mr.. Burton argued that the com
mission had not exceeded it's authori
| ty under the law in proceeding with
| the drafting Of a tentative agreement
| 1t had a right to consult with th'
British and to make a recommenda
! tion to Congress.
Asked why the commission assent
| ed to an interest rate below that fix
| ed IN the bill, the Ohio Representative,
said that the good will of the re
mainder of the world naturally pre-
vented the United States from takint
| the position of "a pawn broker or {
Shylock in concluding the debt fund
| ing settlements He referred to tn,
great burden of taxation in Grea
| Britain, and called attention that th'
| United States and that country wer,
allies In the war and that in tina
| struggle the British bore an infinite
| Iy greater burden than we, howeve
! great our burden was"
| Ten Billions Interest.
| Members of the committee estimate,
roughly that the total of interest tina
Great Britain would pay If the refund
ing extends over the permitted perio
of sixty-two years would be ten billion
Of dollars, whereas the total Of interes
under the original congressional stipu
lation of Az per cent and twenty-fiv
| wears would have been $4,637 200, 900.
Representative Burton said that tn
| british government would be permitte
under the terms Of the settlement t
/ Iiouidate the debt at any time wit
ninety days notice and that 1t was posi-
Bile that in little more than ten year
the entire debt would be paid off.