The Washington times., 1923-02-08
SPEEDY ACTION
ON DEBTS IS
ASSURED
Poll Of House and Senate
Shows Preponderance OF
Votes for Acceptance. ],

Congressional ratification within
ten days Of the Anglo-American
agreement for refunding the $780,.
0O0, 900 British war debt was the
aim Of Administration leaders to-
day as q result of President Hard.
ing's appeal for an early settlement.
An unofficial poll of both House
and Senate, according TO Admins
tration leaders. revealed there was a
preponderance Of votes for enact.
ment of the Smoot-Burton bill which
authorizes settlement OF the debt on
the terms negotiated by commission
ers OF the two governments.
Opponents In Farm Bloc.
In the House, there was every in.
dication the measure would be pass.
ed. without serious opposition and
even without prolonged debate In
the Senate, however, there was a
growing feeling of opposition among
members OF the farm bloc and
from q faction OF Democrats.
The debt bill, sponsored in the
House by Congressman Burton oi
Ohio, one of the American commits
sioners, will pass before the END
Of this week or early next week, II
was said. With considerable debate
expected in the Senate, the meas
ure probably will not <be finally en-.
acted before the end of NEXT week
It will be championed in the Sen
ate by Senator Smoot of Utah, also
Ia debt commissioners.
Predicts Speedy Payment.
In explaining the terms of the
British settlement to the House
Ways and Means Committee today
Congressman Burton expressed the
belief that an effort would be
entire debt within the next ten
years because of the favorable in
terest rate-3 per cent-which pre-.
walls during that period.
Burton said the interest rate. and
the sixty-two-year maturity date
agreed upon between Britain and
the United States would be the
basis upon which sother funding
agreements would be negotiated.
The British agreement, he told the
committee, was made upon the
suggestion OF the American COM
mission, after other proposals had
been rejected by both Governments.
Committee Takes Up Bill.
The Senate Finance Committee
met today on call from Chairman
McCumber of North Dakota and
was to take up the Smoot bill for
There was a posi-
bility the committee would take ac-
ton today, sending the bill to the
Senate calendar, where 1t would be
held until after passage of the Bur-
ton bill, identical ip it's terms. has
passed the House.
There Is no hurry to bring in a
report on the debt BILL" said Me
Cumber. I'VE will make "a report
in a day or so, but there will be
no action by the Senate until after
the House has enacted the Burton
BILL"
While administration leaders ex-
pect to obtain considerable support
from the Democratic membership
of both House and Senate, there
will also be stubborn opposition
from Democratic Senator's. Senator
Mcclellan of Tennessee and Senator
Helm OF Alabama, probably will
lead this opposition. Mcclellan stat
ing today he would fight the
settlement to the finish"
Bloc Members Undecided.
Members of the Senate farm
bloc" were lukewarm in their
opinion of the settlement. Senators
Capper of Kansas, chairman Of the
bloc; Ladd of North Dakota, and
Norris Of Nebraska, members, an
nounced they had not yet reached
a decision on whether they would
support the bill.
- On the Presidents other appeal
for a decision on the shipping
bill-the outlook was far from rosy.
A strenuous effort will be made
for the next three days to force
the ship subsidy bill to a vote in
the Senate, and If at that time a
vote Is not in sight then Admins
tration leaders have tacitly agreed
to drop it in favor of the debt set
Element.
Meanwhile, President Harding Is
going to throw the full weight of
his influence behind the bill. A
number of Senators inirnical to
the bill probably will be summoned
to the White House for personal
during the rest Of this