Evening star., 1933-02-07
CHAMBERLAIN is SILENT.
Refuses TO Disclose Details Of Reported
New Debt Plan.


LONDON, February 7 P.-Neville
Chamberlain, chancellor Of the ex-
chequer, refused to disclose the nature
of the Anglo-American debt negotiations
in the House of Commons today.
"The terms of an invitation addressed
to the British government to send
representative or representatives to
Washington early In March, and the
acceptance of that invitation, already
have been published. have no fur
ther statement to make" he said.
Sir Stafford. Cripps, Labor member,
pressed the chancellor for statement
on the debts in view of his recent pub
lie statements.
"It is obviously unnecessary to repeat
those statements" the chancellor re-
torted.
Qualification concerning the finan-
cial returns from tariff impositions in
the dispute with Ireland over the pay
ment of land annuitieS was indicated by
James H Thomas, dominions secretary,
to the House of Commons.
Asked If he was satisfied with the
results of the Governments policy to
the present, he replied, Il have got in
few hundred thousand pounds more
than was due U.s."
The government continues desirous
Of a friendly settlement, he said, ION
the basis Of the validity Of the exist
ing obligations"
Reliable sources, however, had put
their stamp of authority today on re-
ports that Great Britain would seek to
settle the American war debt immedi-
ately with single payment.
The new British Debt Commission
was expected to offer fiat payment of
about one-third Of the sum now allo-
Gated for settlement in the next SO
years.
The plan, frequently suggested in the
past, appeared to have emerged from
the field Of speculation simultaneously
with the arrival Of Sir Ronald Lindsay,
British Ambassador to the United
States.
Sir Ronald came here for the express
purpose Of enlightening the British
dent-elect Roosevelt, with whom he
talked recently on plans for the forth
coming debt conference in Washington
A new development today was the
information that Sir Ronald would not
return to Washington for three weeks
1t was thought at first he would hurry
back to Washington at the end of this
week. This revived the possibility he
! himself would be member Of the Brit
ish commission.
The proposal for an immediate set
tlement of the debt, as explained in
well informed quarters, would mean an
offer of outright payment Of 81 ,250, ,000,-
900 to $4,000, 900 900. The present out
standing debt is about s4.302. .450, 900.
Great Britain has paid s2.0G7, ,3s8.298.
most of this before the 1928 British
Debt Commission obtained the new
funding agreement under which $4,000
900 900 was to be paid over a period of
62 years.
This plan would be literally in line
with the declaration of Neville Cham
berlain, British chancellor of the ex-
chequer, who asserted that any agree
ment reached with the United States
must be final.
A fiat payment could be financed by
fotation of British government bonds
in the United States. thereby avoiding
the immediate transfer Of large sum
to the United States. The financial
editor Of the London Herald declared It
was almost certain that the loan in
the United States would be raised to
make one final payment. The pro-
ceeds, under the plan, would be handed
over to the United States, with Great
Britain being responsible for interest
and sinking fund payments.
Declaring the United States already
has more gold than she knows what to
do with, Mr.. Chamberlain said any
further shipments of gold from here
were out of the question.
While it was generally considered
that Mr. Chamberlain spoke the views
of Premier Ramsay Macdonald and
the cabinet, it was said today that the
arrival of Sir Ronald would end the
chancellors outspoken debt discussions
The big five" of the cabinet were
beginning their conversations with the
Ambassador. who indicated the close
Tipped policy he Is expected to maintain
for the next few weeks. He had no
statements to make for publication and
nothing was disclosed after his first
conference yesterday.
Lord Tyrren, the Ambassador to
France, also was back in London TO-
day, but he has not yet joined In the
"big five" conversations. II he Is need
ed to transmit French views on the debts
question he will be available. The idea
of q united Franco British front ap-
parently fell through with the French
default of its December payment to the
United States.
Some of the members of the "big
five" may return to Washington with
Sir Ronald or go there shortly after as
members of the Debt Commission. They
are the premier, Mr.. Chamberlain,
Stanley Baldwin, president Of the coun-