Evening star., 1933-11-07
Britain to Pay $500, 900 in
U. S. Currency on Decem-
ber IS InStaIIment.
NOT VIEWED AS DEFAULT,
PRESIDENT ANNOUNCES
England Declares Payment Is
Without Prejudice to Future
Readjustment Pleas.
BY the Associated Press.

by tne Associated PreSS,
President Roosevelt today announced
the end of British war debt negotiations
without agreement, but with the
payment of s7,5o0,ooo by Great Britain
on its December IS installment.
This token payment will be paid in
American currency in lieu of the $l17,-
100000 due from the British in mid
December under the existing agree
ment.
The President announced that in
view of the part payment, he would not
regard the British government as in
default.
This was the attitude taken last
June, at which time the British paid
about 10 per cent of the amount due,
and that in silver at the rate of so
cents an ounce to the amount of
$11, 100000.
End without Prejudice"
In his statement today, Mr.. Roose-
velt said the debt negotiations were
concluded without prejudice until GER
tain factors in the world situation
commercial and monetary-become
more clarified"
He revealed he had been assured by
the British government that it con-
tinues to acknowledge the debt with
out, of course. prejudicing its right again
to present the matter of its readjust-
ment, and that on December IS, 1888, it
win give tangible expression of this
acknowledgment by the payment of ST.
100000 in United States currency"
This would mean the British treasury
would have the advantage to that ex-
tent OF the depreciation of the dollar,
which at today's London market
reached level Of $490% to the pound.
Coincident with the Presidents state
ment, Neville Chamberlain, chancellor
OF the British exchequer, announced the
debt situation to the House of Commons
reading the last two paragraphs of the
Presidents statement that follows, and
adding that his government is ready to
resume negotiations for revision when
ever after consultation with the Presi-
dent it may appear that this can use
fully be DONE"
Presidents Statement.
The Presidents text:
For some weeks, representatives of
the British government have been con-
ferring with representatives of this
Government on the subject of the
British debt to this country growing out
of the World War. The conversations
were requested by the British govern
ment in its notes Of last June and De-
cember. a request to which / gladly
acceded in view of the policy which
announced in November, 1882, that a
debtor may at any time approach q
creditor with representations concern
ing the debt and ask for readjustment
OF the debt or its terms of payment.
The conversations, now concluded
nave In no sense prejudiced the posi-
ton which either government has taken
in the past or may take in any subse-
| quent discussion of the entire debt
question. They have, however, given
an opportunity for full and frank
discussion of the representations which
the British government has made.
These discussions have made clear
the great difficulty, if not impossibility
OF reaching sound conclusions upon the
amounts of international payments
practicable over any considerable period
OF time in the face Of the unprecedent-
ed state of world economic and finan-
cial conditions.
Not Considered Default.
1T has, therefore, been concluded to
adjourn the discussions until certain
factors in the world situation-commer-
cial and monetary-become more clari-
fed. In the meantime I have, as Ex-
ecutive, noted the representations OF
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