Evening star., 1927-05-05


Britain, so long as the latter con-
tinued; when they ceased in 1919, the
dollar payments by the United States
Government were utilized to reduce
the debt incurred by Great Britain.
The statements made in Mr.. MELONS
letter on this point appears to his
majestys government to be likely TO
give a very erroneous impression of
the facts.
His majesty's government now pass
to Mr.. Melons contention that the
payments made to the United States
Government in respect of the British
war debt impose no burden on the
British taxpayer.
'Mr. Mellon states that all our prin-
cipal debtors are already receiving
from Germany more than enough to
pay their debts to the United States
SO far as Great Britain is concerned,
this statement is incorrect. The re-
ceipts of Great Britain during the
financial year of 1926-1927 from Ger
many on account of reparations repre-
sent approximately one-quarter of the
payments made by his majesty's gov
ernment to the United States Govern
ment, and their prospective repara-
ton receipts during the present finan-
Cial year 1927-192S assuming that
they are transferred in fulD will fall
substantially below one-half of the
payments due to be made to the
United States. Even if the receipts
from Germany on account of army
costs (Which represent a partial re-
endorsement of the expenditure in
Cured by his majesty's government on
the maintenance of the forces) and
on account of the Belgian war debt
(which represents a payment on be-
half of BelgiumD are included, the
total receipts of Great Britain from
Germany in either of these years will
not exceed one-half of her payments
to the United States. There can be
no dispute as to the facts: The figures
are published by the agent general
for reparation payments and are fully
available to the United States Treas
ury.
Comparisons by Mellon.
"When he comes later to deal with
the position of Great Britain, Mr.. Mel
lon does not in fact compare British
receipts from Germany alone with |
British payments to the United States |
Government; he compares the total |
receipts of Great Britain from repara |
tions and interallied debts, together |
with the payments due by her to the |
United States Government. He gives |
figures purporting to show that Great |
Britain will receive 50, 100000 f412, ,000) |
more this year than she pays to the |
United States; $15,000,000 G3,000,000) |
more next year and $70,000,000 (E14,-
403 ,000) more in 192S-1929. While he |
admits that in the past two years |
Great Britain has received about $780, |
600, 900 H20, 0,576 ,000) from Germany, |
France and Italy less than she has |
paid to the United States,' he adds |
that it is equally true that, from this |
year on, Great Britain will, every |
year, receive from her debtors a sub |
stantial amount more than she will |
pay to US, so that her American pay
ments will not constitute drain upon |
her own economic resources.
This statement is also inaccurate,
both as regards the past and as re-
CARDS the future.
From the 1st of April, 1919, to the
31st of December, 1926. Great Britain
has paid the sum of $500, 900, or
f170, 500 900, in respect of the debt to
the United States Government, |
whereas the sums received by Great
Britain on account of reparation, Bel
gian war debt and allied war debts up
to the same date amount to f41,00O,-
900 $500. .000,000), leaving deficit of
f129 500, 900 (S628,500, ,000)
Receipts From Reparati0ns.
There seems no special reason to Sc
lect the past two years only, as is done
in Mr.. Melons letter, but the position
as regards this period is that during
the first two years of the operation
of the Dawes plan Q9241925 and 1926
1920, the receipts of this country
from reparation Gncluding Belgian
war debit and allied war debts to-
gether, fell short of British pay
ments to the United States Govern
ment by approximately f5O,O00,000
1924, 900 000).
AS regards the financial year 1926
1927, the share of the United Kingdom |
in the third Dawes plan annuity in
respect of reparation and Belgian war
debt amounts to $4,000, 900, and the |
receipts from interallied war debts to /
fS 500 600. or a total of EGO, 800, 900, as |
against the payment due to the United /
States Government of f33 900, 900. Dur
ing the following year 1927-1928)- the |
share of the United Kingdom in the |
fourth Dawes annuity in respect of |
the Belgian war debt and reparation
should amount to f14 4,250,000, and the |
receipts from interallied war debts to
f10 500 900, or a total of E24, $50 900, as
against the payment of f33 100000 to
the United States. The share of the
United Kingdom in the fifth and sub
sequent Dawes annuities Il. e., after
/, 1929 for Belgian war
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