The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1933-11-07

OJontinued from Page IL
financial emissary to Washington,
| to reach any conclusion with
President Roosevelt on the general
debt situation.
Unfortunately" he said, 1--WE
were unable to reach an agreement
for O final settlement Of the war
debts, and for that reason, Great
Britain has informed the United
States that she Is prepared to make
a token payment as an acknowl-
edgement OF the debt, pending a
final settlement"
The chancellor expressed q will
ingness to resume negotiations on
the general debt question when
ever, after consultation with Mr.
Roosevelt, ut might appear that 1t
could usefully be done"
The house OF commons, damned
to It's galleries, cheered Chamber
lain vociferously after he had READ
| the statement from President
Roosevelt declaring that the token
payment would not be regarded as
u British default.
Decision to accept that sum was
reached in the recent debt confer
ences that took place in Washing
| ton. In view Of that decision
President Roosevelt does not re-
gard the British government as In
| default.
At the same time II was made
clear that great difficulty was
faced in the conference on reach
ing conclusions for payments over
q lengthy time because of the
chaotic state OF world finances.
The presidents statement fol-
lows
"For some weeks representatives
of the British government have
been comforting with representa-
tives Of this country on the sub
ject Of the British debt to this
country growing out OF the World
war. The conversations were re-
quested by the British government
in It's notes Of last June and De-
cemher, q request to which ! glad
ly acceded In view Of the policy
which I announced in November,
1899, that a debtor may at any
time approach q creditor with rep
reservations concerning the debts
and ask for readjustment OF the
I, debt or its terms OF payment.
| 1.-THE conversations, now con-
cluded, have in no sense prejudiced
the position which either govern
ment has taken in the past or may
take in any subsequent discussion
/ OF the entire debt question. They
have, however, given an opportun-
ity for a. full and frank discussion
of the representations which the
| British government has made.
"These discussions have made
clear the great difficulty, IL not Inn
possibility, Of reaching sound con-
illusions upon the amounts OF In
ternational payments practicable
over any considerable period OF
time in the face, Of the unprece-
denied state of world economic and
White House Statement
Washington, Nov 7.-((UP)-
disability OF reaching a war
debt settlement with Great Britain
in view Of disturbed world condi-
lions resulted in the decision to &C
cent o "token" payment Of Va
100000 on its debt, the White
House announced to-day.
ut has, therefore, been con-
bcluded to adjourn the discussions
until certain factors In the world
situation-commer and mon
etary--became more clarified
In the meantime, have as ex-
ecutive noted the representations
Of the British government. ] am
also assured by that goyernmsnt
that it continues to acknowledge
the debt without, Of course
prejudlcing its right again 70 pre-
sent the matter OF its readjust-
ment, ana that on December ~
1888, tt will give tangible express
sion Of this acknowledgment by
the payment Of seven and one hall
million dollars In United States
an view Of these Representa-.
lions, OF the payment, and OF ths
impossibility, at this time, Of pass
J ling finally and Justly upon the re.
!. quest Tor . readJustment q the