Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-01-23
DEBT Commission
SAILS FOR BRITAIN;
AGREEMENT LIKELY
Plan Worked Out Here May
Be Basis for Settlement
England Facing Financial
Burdens

WASHINGTON, Jan. 2.2-(By the
Associated ss.)-Although the
British debt commission sailed for
home with their mission I'M
completed, well-informed officials in
Washington are by no means pes
simistic over the possibility OF al
early agreement for the refundlng
Of the British war debt to the Unit
ed States.
In view Of facts disclosed last night,
some Of those familiar with the re-
cent exchanges between the British
and American commissioners would
rot be surprised If British assent 70
a settlement plan tentatively worked
out here is given soon after Chancel-
Ior Baldwin and his colleagues ar
rive in London.
It is known that the plan repre-
sents the well considered judgment
of both commissions as embodylng
the maximum concessions that
might reasonably be granted By the
United States.
The conclusion has been drawn
that the grave change in the Eu'
ropean political situation caused tie
British government to hesitate 10
assume any new financial burdens at
this time unless it was assured OF
the ability of the taxpayers to bear
them.
ENJOYS Cautious
Among the many elements Oh ap
nrehension which thus may nave in
fluenced British officials are enume"-
ated the possibility of an expensive
war with Turkey. heavy losses OF
trade as the result of the operations
of the French in the Ruhr followed
bv increasing mploynent oil Eng-
1ish worknen, unrest in India ard
unsatisfactory conditions in Egypt,
which might make it necessary TO
modify, her present Independent
status. To tie up the government
in such an enormous financial traIih-
action as that contemplated BY the
commission under those conditions
is said to have been viewed as
hazardous in the extreme.
1t is known that the original Amer
lean plan of refunding would call for
the payment of the British govern
ment of upwards of million dollars
a. day, with the last payment 0O
wears in the future. After a care
full study of the figures presented
by the British, however, the Amer
lean commission is said to have been
disposed to accept the view that half
of that sum-or half a million a day
-represented the full extent of the
British ability to pay.
To meet even that charge it was
held that the British government
| would probably find it necessary
to make extensive changes in its
whole financial and economic. sys-
tenn. That would, of course. make
if incumbent upon the cabinet to seek
the aid of parliament and secure leg
islative approval of it's plans. There
will be an opportunity for the re-
turning commissioners to be help
full to the government in that matter
by personally addressing themselves
to the leaders of parliament.
Customs Tariff
One project of the greatest inter
est to this country which has been
mentioned in Great Britain in con-
nection with the refunding plans
relates to customs tariff. To make
| both ends meet it has been argued
that the British markets must be pre-
served for British workmen and pro
ducers and that the United States
cannot be permitted to maintain a
heavy balance of trade at Great
Britain's expense. Some British
statesmen are said to believe the
only feasible way to stop the drain
would be to erect tariff wall around
the British Isles with special refer
ence to American products and ma
| terials such as cotton and copper
and even foodstuffs.
These considerations, of course,
were not discussed in detail by the
British commissioners here and it
was indicated that they might not
even be brought forw-,rd at all #
the terms consented to by the United
States were regarded by the British
government as within the present
resources of the nation. 1t is this
question the British government now
will consider after hearing the per-
sonal explanations Of it's commits
| siCncrs.