Evening star., 1931-06-24

more prompt method must be found
for putting into operation the propose
Of the United States Government foi
a complete and immediate suspension oi
German payments to the creditor gov
ernments.
"The procedure which we would favor
is that the creditor governmental should
forthwith notify the Bank for IIfterna-
tional Settlements that they agree with
the proposal for suspension for one
year Of all the German payments due te
them.
"The decision, of course, does not resi-
with us alone, and we are awaiting the
views Of the other creditor governments
but we hope 1t may be possible to Sc.
cure an agreement on these lines a.
soon as possible.
President Hoover's proposal applies,
however, to all intergovernmental
debts, reparations and relief debts.
His majesty's government for their
part accept this proposal In the spirit
as well as the letter. They. will ac-
year all such intergovernment debts
| due to them as soon as President
Hoover's proposal has been generally
accepted and in the meantime was
from the flrst approximo they win
refrain from claiming inStallmentS that
may IAN que.
VIII Invite Cooperation.
"As regards the relief debts, his
| taking steps to inform the other
European governments which hold re-
| lief bonds Of their action and to invite
"Finally. although his majesty's gov
ernment In the United Kingdom do
not regard President Hoover'S proposal
as directly affecting the war obliga-
tions of the dominions and Of India to
the United Kingdom, which are matters
for discussion and settlement between
those Of his majestys government con-
| terpreting the wishes of the country IN
deciding freely to offer to the domn-
ions and India the same concession as
is proposed for foreign countries under
the same conditions.
DominiOns to Share.
Accordingly when inviting the assent
| of the dominion governments ana the
government Of India to suspension OF
German payments so Tar as regard tne
share to which thev are entitled, We in
innate that on the same principle We
would readily give them the option OF
pO0LpOIlII1k GA4C WAtOAO esAAAS1A.1 S~
war debt payments to the United King
dom for the IL months from July !,
1881, If they SO desire. The proposals
will involve loss to the current budget
which may reach approximately $ll,-
600 900. This Is q serious sacrif1ce tor
the taxpayers In this country, upon
whom such heavy calls have aready
been made, but we hope that the step
we are taking In cooperation with the
United States will be more than Justt-
fed by the help it will give in Teviving
confidence and prosperity"
Cheers greeted Mr.. Snowdens an
nouncement.
Leaders Indorse Statement.
Stanley Baldwin, Conservative leader,
whose question had drawn out Mr..
Snowden'S statement, 1ndorSed the
chancellor's attitude, as did David
while thanking the right honorable
gentleman for his statement" said Mr..
| Baldwin, Though I had not the OPP
portunity Of reading It beforehand,
content myself with saying that, in my
opinion and I believe In the opinion
of those behind me, that the govern
ment has taken a course fully conSis-
tent with the dignity and reputation OF
our country"
Lloyd George then remarked: 81
would also like to add am very glad
that the government have given so COM
plete, courageous and unequivocal an
answer to the very noble gesture Of the
United States"
CREECr I'M ACCORD.