HOW BRITAIN PAYS

Manawatu Standard, Volume LIII, Issue 13, 13 December 1932, Page 7

HOW BRITAIN PAYS

COMPARISON OF AMOUNTS

DIFFERENT METHODS OF SETTLEMENT,

BENEFIT TO OTHER NATIONS

(United Press Association —By Electric Telegraph.—Copyright.) (British Official Wireless.) Received December 13, 12.15 p.m. RUGBY, Dec. 12. In written replies to questions in tho House of Commons the Chancellor of the Exchequer gave details showing that Britain’s receipts in war debts amounted to 71.1 millions and in i - eparations to 121.3 millions, making a total of 192.4 million pounds. Her payments to the United States for war debts amounted to 326.2 millions, exceeding the receipts from war debts and reparations by 133.8 millions.

Mr Chamberlain said that, if the British war debt to the United States had been from tho outset settled oil the same basis as tho French war debts to the United States, the amount which the British Government had already paid would exceed the amount due on such basis by 795.7 million dollars', and no further payments would ho duo until 1940. Similarly, if the British war debts had been settled on tho basis of the Italian settlement, no further payment would lie duo until 1955.

If, however, past payments were ignored, and future payments in respect to the actual capital debt now outstanding were made on the basis of the French settlement, the amount payable by Britain on December 15 would be 22 million instead of 95) million dollars. Similarly, if future payments were made on tho basis of the Italian settlement, the amount payable would be 2J million instead of 95) million dollars. Approximately 29 per cent, of tho British debt to the United States would have been paid off by the payments already made by Britain if tho settlement had been on the samo basis as either the French or the Italian settlement. Under the existing settlement only 4 per cent, of tho capital of the debt had been repaid.