Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-02-09

Washington, Feb. S.-Arranee-
menus were made today in the
HOUSE to bring up tomorrow legis-
1ation which would give effect TO The
brltlsh debt settlement agreement
submitted to Congress Yesterday NV
resident Harding. Passage of tho
measure by an overwhelming ma
Jority was regarded as a foregone
conclusion and Republican manae-
night. 'o'e peIore
;, Final action then would rest Wit b
t tne senate. but there were indica-
n;nm h tmat the administration shin
tharo oili would be given precedence
Gates of early action on The so- ~
question had not given m ueot
move, of displacing the shin T h;1;;
VIII me debt legislation. ''i'
:; nanlnouS consent for coneidoro
~; ;.on or the debt measure was $50
VIE ene rouse after the WAYS ond
hv ms committee had reported ont
in, r we OF twelve to three the hiiI
tive D'. Yesterday by Represents
r .r burton. Republican. Ohio ;.
,,,: or the American DOH d
~ AS amended bv tha eo l
n;,'n the measure not only WI,
Ho 49, congressional approval to ~
To Jh OF the British and Amor;, ,nie
~, commission. but Wo,,ld a,,.h Ia u
reo4 'it a iherIcan commission f., =,
uo eelt'einents similar. hu, ~.
other "a, orable III terms" with ~
~. uebtor nations. Ing
really !Hnltaflon on the term, o., T.,
and The n n,t FRANCE. Italy. Belgium
tn ~ othef nations owing none.
at the n,.en states was written in
memher. sestloh of Republics n
Burton ~ -, 'ne committee after Mr.
hoa.: nad announced at an ,nn.
nearlns that it was moi tho open
VI tne American commisssion ~ pone
n umsp terms with those countr;t. :.
thaa were more favorable tban
''1Se given Great Britain. ''i
1Hree democrats on the co,,r,;.
Ho'ed against the legislation ana
Two voted for it. ana
J., me Republicans were Unanimous
l! IN favor of the bill. ''''oos-
!. uiNlslon among the Demooro+
~ .he Rouse vote was forecast INT
IA agreeing to consideration of tba
measure tomorrow. Representatiue
Jarrett, of Tennessee, the Dar,o
ratio leader. said that regardless of
INV they would vote. the Democrats
nag no disposition to DELAY action
democratic committeeman sought
aiso 70 obtain a statement from Sec
re!arE Mellon. chairman of the Am
trlcan commission. but they said
hartman Fordney had declined 10
car me treasury secretary on the
around the committee had obtained
sulnclent information from Mr.. Bur-
Ton. Representative Oldfield. Dem
ocrat Arkansas. said some of tho
democrats had declared to learn
whether the terms agreed upon Wit h
the Brltlsh government were the
pest that could have been obtained.
We don't know that they are .
ne said. Unless we are certain. we
DO not believe we ought to take the
american peoples money and nav
IL 70 Great Britain. And that is the
erect OF this arrangement as orr
people are paying IL per cent in
terest on our securities. The differ
ence between what our people are
paving in interest and the British
viii pay is between 5000, OOO, 600 and
$1,000. WOO. 600"
Mr. Oldfeld suggested that the
agreement with Great Britain might
nave carried an interest rate simiIa
to that on American government Sc
curltleS at this time with a provision
for a scaling down of the British in
terest as interest rates on new,
American government securities
were reduced.