Evening star., 1933-01-25
Chamberlain Holds Reparations Re.
sumption Must Not Be Involved.

Chamberlain Holds Reparations Re-
sumption Must Not Be Involved.
LONDON, January IS lP)-Chief aims
OF the British government at the pro-
posed Anglo-American conference in
Washington soon after March 4 will be
to reach new debt settlement that
will be final" and mot involve re-
sumption OF German reparations."
Even before the British government
has taken official action on the Ameri-
can Governments offer to discuss the
debt, Chancellor of the Exchequer Ne
vile Chamberlain has declared these
must be the essentials" of new
agreement. This declaration Of British
policy was welcomed in the London
newspapers today as a clear and able
statement Of the British view.
Favors Total Cancellation.
1--WE shall glad.j discuss with our
American friends wherever they are
ready to receive our Representatives.
the lines on which an agreement can
be reached" he declared in a speech
at Leeds last night-the first official
statement indicating acceptance of the
American offer made last week.
Total cancellation of the war debts
and reparations would be the best thing
that could happen to the world as a
whole" said the head of the British
governments finances and likely dele
gate himself to the Washington parley.
He intimated, however. that cancella-
American opinion Is yet prepared to
accept"
10 avoid resumption of German repa-
rations on the old scale, European
debtors have practically agreed that the
United States must grant similar con-
cessions to those which they promised
Germany at the Lausanne Conference
German reparations were practically
wiped out-scaled down to about /
cent on the dollar-providing the United
States acts similarly on debts owed by
the European allies.
Realizes U. S. Difficulties.
Chamberlain said: Il realize the diff
culties of the American Government.
and. remembering how long it took to
persuade the European nations of the
evil results Of reparations. I can we'll
understand how different is the aspect
which the subject of war debts pre-
sents to the farmer of the Middle West
from that (which appears to u.s."
Later he quoted resolution passed
by number of cotton exchanges in
America" as saying: 1T is clear that g.
cent cotton and Accent wheat are in
evitable so long as International COM
mercial and financial relations remain
as they are I" " We urge every farmer
to demand that the Government confer
at once with foreign debtors with a
view OF finding a Encouragement of the
debts
During the debt discussions last De-
cember, Chamberlain made a similar
observation in the House Of Commons
intimating the truth" concerning the
war debts was hidden from the Ameri-
can farmer" Last night he spoke of
"an important and enlightened section
Of opinion in the United States which
Is not far from our own viewpoint"
In the end, he said, all debt payments
must take the form Of sending goods
or of rendering services" Effective
means of payment, he added could
only be found by increasing sales OF
foreign goods to America, or what
would come to the same thing. dimin-
ishing purchases from America"
Might Increase Sales.
Increased sales might be effected"
said Chamberlain, by drastic reduction
OF the American tariff or, in the case
of countries off the gold standard dn-
cluding England). by depreciation OF
their currencies in terms Of gold. De-
creased purchases could be insured
either by depreciating currency or by
increasing the tariff against America"
The disturbing consequences Of such
| policies, he added, were important to
the United States which depends to
! a large extent upon foreign markets
The Morning Post said today that
| settlement of the debt problem offers
! America a sufficient share in the result
ant opportunity of common revival
as abundantly illustrated by Chamber
lain"
The Telegraph said 1.-The real sig
nificance of the speech was that i,
| points to cancellation or revision sc
drastic as to virtually amount to can
| collation."
Reparations Are Discussed.
The Daily Mail interpreted Chamber
| lain's reference to reparations as stat
ing Americas debtors must not be
| asked to pay America when they are
not receiving payment from Germany
| The News-ChrCnicle called 1t the
best exposition of the British case
anybody HIS YET Iidoe. AHs
one bot being the passage dealing will
reparations which adds little. to the
argument and will needless,y irritate
American opinion"
The Heral6s financial editor said he
finds in Chamberlain's speech an in
dication that the government will al
most certainly insist on floating a loar
| in the United States to raise the money
with which to clear the debt by one
final payment The proceeds Of the
i loan would be handed over to the United
States Government, he added, with
Great Britain being responsible for in
terest and sinking fund payments.
RAND CONCERTS.