1933-10-20 — Page 4

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TO SELL ST

PUBLIC. AUCTION

SATURDAY, OCT. 21, 1933

Commencing at 11 A.M.

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AUCTIONEERS

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T

'ON · VIEW -SATURDAY & SUNDAY, TH 21ST & 22x OCTOBER, 1933.

TERMS CASH ON DELIVERY.

LAMMERT BROS.

AUCTIONEERS.

#

"

THE BRITISH WAR

DEBT TO U.S.

Further Negotiations At Washington

CHARACTER OFF

AN ENGLISHMAN

"Televised" by Mr.

Baldwin

"Mr. Baldwin, in broadcasting an introduction to weekly series of talks on the national character, said the English chaructor had been

NINETY PER CENT SLASH WANTED? described sa "grim individuality

Washington, October 10. Sir Frederick Leith-Ross to-day submitted to Under Secretary of the Treasury Dean G. Acheson a detailed brief, with stätistics, at- tempting to show why the United States should. reduce Britain's war debt immediately.

However, he presented no speci- fic plan for settlement of the debt. CHIEF ARGUMENTS

The argument included:

1 Britain bought three times as much supplies during the war from the United States as she

borrowed funds.

settlements were made a decade 'ago was advanced to-day by Great Britain as justification for the reduction she hopes to obtain. from the United States.

British and Americas spokes- men opened the long-delayed ne→ gotiations at the State Depart- ment. Furthermore. Sir Patrick the spokesman for Leith-Ross. Great Britain, argued, the loans made to Great Britain before and after the 1918 world war armistice were not of a commercial charac- ter but a matter of necessity and used for war purposes common to the United States and Britain.

After the

and the power of co-operation."

"The English character,' Mr. Baldwin continued, is largely one of those contrasts, Take a small thing-no people grumble more than we do, but we never worry.

"The more difficult the times the more cheerful we become. We are always serene in times of difficulty.

of denise of

SENSE OF HUMOUR. "We have a glorious sanse humour, rather than a wit We can laugh at ourselves, and laughter is one of the best Of all things God has given us. men who have shown us, what laughter can mean none was like Dickers.

"If I may mention. living 2. The funds, borrowed were not

opening conference writer. I think the truest English- for commercial purposes, which Dean Acheson, American under soo- men are found in Mr. Priestley's would have yielded a profit, but retary of state, told newspapermen novels. Kindliness, sympathy with vent as an investment in destruc-that the British spokesman began the underdog, love of home, are tion, yielding no dividends.

the origin of the huge debts and not these all the characteristics of

the ordinary Englishman we traced their history.

know?"

3. Britain was the first debtor to fund her obligations to United States.

the

4. The settlement made in 1923 was entered in the belief that. word economic conditions would improve, whereas they became

paymient worse, rendering

more difficult.

To-day's was the first move in several days on the debt situation which has been marking time.

ail

"He is a strong individualist in this he does not want to mould. himself into any common mould, to he like everyone else. Yet he can combine for service.

NO SUGGESTION.

He asserted there was

no sug gestion as to what Great Britain might offer as a basis of settlement Other members of the British de-

"Some of the best things in this legation as well as Sir Frederick country have originated among our they regard as making it impossi-ernment-friendly society work. are to set forth the circumstances own people, with no help from Gov- ble for Great Britain to pay in trades unions, our hospitals," and terest or principal on the approxi- our education before the State took mately $2,000,000,000 due the Unit-it in hand.

ed States from Britain in the next

has a

"Then the Englishma 51 years, ander the terms of the profound respect for law and order," previous settlement.

Behind the conference lies

FEW TALKS During the first week of the presence here of Leith-Ross and T. K. Bewley, the Britain nego- tiators, they had' conversed pre- viously for only 30 minutes with struggle between the dominant Under Secretary Acheson on the British sentiment against further subject of debts, and with Presid-payment and the demand of Con- ent Franklin D. Roosevelt for only gress that the debts be collected in Ave minutes,

full, the first settlement having Some observers said both sides sealed down the amount originally were perplexed and others that advanced. the delay showed lack of pre- paration.

+

That is part of his tradition of self-government ordered liberty. not disordered liberty with what invariably follows it, tyranny-at this moment one of the rarer things in this topsy-turvy world.

FAITH IN THE FUTURE.. "These qualities were never more Great Britain was scheduled to needed in the world. Let us hold pay 875,950,000 in principal and in- on to what we are. Let us not try American officials assert. that terest last Junt 15 but tendered to be like anybody else. the British presented no plan for only "token payment" of $10,– -

With our pertinacity, with our the debt settlement. while the 000.000, which was tentatively ac- love of freedom, with our love of Britishers

ordered freedom, with our respect

· indicated that the cepted by President Roosevelt. American, initiative which they expected failed to materialize.

The American viewpoint is that the United States is not obliged to make suggestions, but merely con- sented to hear the British, and therefore, it is up to the British to act.

PAYMENT DUE.

ar-

for law, and our individuality and our power of combining in service, Another and larger semi-annual-I believe from my heart that our payment is due. December 15, and people are fitted to pass through roparts have been only another whatever trials may be before them token payment will be forthcoming.and to emerge, if they are true to The current conference" was their own best traditions, a greater ranged for shortly before President people in the future than they have Roosevelt AVOID PROPOSAL

Was inaugurated last been in the past,"

Mr. Baldwin said the last inva- The British hesitancy. it is be- March 4 but was delayed by the lieved arises from the fact that demands of the pressing domestic Bion af England, and in many Leith-Ross and Bewley realize economie situation.

ways, the most important, was "that the suggestion of a 90 per cent. Britain's total funded war debt of the Normans probably one of slash in the war debt, on the same to the United States is composed the greatest races that had ever ratio as, the European powers of 84.600,000,000 principal and the fived. He always thought it a great agreed to stash German repara-interest payments by the previous mistake to think of the Normans tions at Lausanne, would not be settlement would amount to 88,505,- who came here as Frenchmen. They considered a minute, but would 985.000. The average interest rate were Frenchmen in & sense, but be promptly 'rejected.

is 3.31 per cent.

they were really Gallicised Scan- dinavians..

• Therefore they are avoiding this

which aper proposal,

they

doubt realize would merely arouse adverse opinion.

GO SLOWLY

Altogether 13 debtor countries have agreed to pay the United States, 822,184,480,000 in principal

and interest.

By President Roosevelt's pro- gram the uegotiations are to be Instead, they apparently hope to conducted with the individual get somewhere by proceeding slow- debtor nations and not as a group, ir with secret informal talks, deas the latter proposed.' veloping some compromise plan. After Acheson digests the latest

TOTAL OF LOANS.

JAPAN AND RUSSIA,

CER. NEGOTIATIONS SUSPENDED.

Tokyo, Oct. 11. Negotiations for British thesis, may be ready to made by the United States to Railway by Russia to the Manchu- The pre-armistice ensh loans the sale of the Chinese Eastern make some concrete offer.

kno government were in suspense Some believe that the most that debtor countries were: Belgium, is hoped for the time-being is 8171,780,000; France, 83,970,000,000; to-day as a result of the most re- Bome form of temporary' agree- Great Britain, 33,606,000,000; Italy, cent controversy over the manage- ment or partial moratorium, such 81,031,000,000, and Yugo Slavia, ment of the railroad, and the fu- rore which has been created by as an annual payment of $10,000,- 810,605,000 total 88,879,388,000, 000 per year on the total kum

The post-armistice cash loans Russian charges that the Japanese due,

were: Belgium, $177,435,468; Cze- were plotting the seizure of the choslovakia,801,974,041; France, railway, HISTORY OF DEFTS TRACED

Russian representatives refused. 81,027,477,500; Great Britain, #881,- to Washington, October 10. 000,000; Greece, $7,187,000 Italy, railway's sale until the Manshukuo continue negotiations for the A plea that radically altered 8817,034,000; Roumania, $25,000,- world economic conditions were 000 and Yugo-Slavia, 816,175,488, government ceases its efforts to re- unforeseen when the

organize forcibly the railroad. debt total $2,523,262,000,

· WAI'

Fate Of Saito Cabinet In Balance

MILITARY DEMAND FOR'

· EQUIPMENT FUNDS

ایر

រ·

RELATIONS' STRAINED. Meanwhile diplomatic relations between Japan and Russia were be penditure does not exceed the coming strained as a result of the "limit" which Japan's financial publication in Moscow of docu- condition allow. It is doubted if ments, which, the Japanese allege the War Minister would agree with, to be false, tending to incidate the the "limit" since he declared that Japanese were trying to instigate, the military demand for next your the Manchukuo regime to seize the wae the minimum necessary for the C. E. R. maintenance of peace in the Far Asked if there was a danger of East. The settlement of the dis- a rupture of diplomatic relations, puta depends upon the attitude of a Japanese government spokesman the Prime Minister, it was said. i told the United Press that the out- On the other hand, the Financecome depended on Moscow's inten- Tokyo, Oct. 9.

Minister is reported to have given tions and depres Opinions at the Ministers Con his personal approval to the second There is some indication, the ference with the Prime Minister replenishment programme of the spokesman said, that Russia does to-day were divided. The War and Navy, considering it necessary for not desire a peaceful solution of Navy Ministers, Lieut. Gen. 6. an efficient national defence. Ad- the situation. Araki and Admiral M. Ohsumi, in-miral Chaurai supported the War INVESTIGATE SOURCE.. sisted on a policy of national- Minister's contention on the ground Meanwhile Foreign Minister Koki defence first, while the Foreign that a strong national defence can- Hirota was continuing an investi- and Finance Ministers. Mr. Koki not be expected without the co-gation of the source of the Moscow Hirota and Mr. K. Takahashi, oporation of all Ministries,

roporte,

emphasised international co-opera- Any plan which might excite The Tokyo representative of the tion. The Prime Minister, Via foreign nations should be avoided, Toss news agency, official Russion count M. Saito, maintaining a the other Ministers insisk The agency, was under fire. It was be- neutral attitude.

War and Navy Ministers are of lieved possible that he might be

The future of this conference opinion that Japan 'cannot avoid deported. may affect the fate of the present being isolated from other nations The documents published Saito Cabinet and the entire na-under present circumstances re-- Moscow were alleged to be three re- tion is anxiously awaiting the re- gurdless, of hör desire. ports of General Takashi Hishikari, sult: Lieut-Gen. Araki's demand. It is reported in Japanese caroles commander of the Kwangtung: gara for the immediate completion of that the Wax Minister stated, when rison, to the Japanese foreign off- the military equipment programme interviewed by reporters, on Satur-cer, and a fourth from the Japan- in cousection with the budget for day, that he predicted a "certain ese consul at Harbin to. Hismsari, the next year was said to have|important" problem was antici- All purportedly showed that the been approved of unofficially by the paled a year, hence, - United Japanese helped plan the arrest of Finance Minister provided the ex- Press"

Bussian OE. R. oficiala

JI

1.

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