WAR DEBT PAYMENTS

Manawatu Standard, Volume LIII, Issue 20, 20 December 1932, Page 7

WAR DEBT PAYMENTS

NEW ZEALAND’S OFFER.

appreciation of attitude.

ANNOUNCEMENT IN COMMONS. (United Press Association—By Electric Telegraph.—Copyright.) (British Official Wireless.) Received December 19, 11.40 a.m. RUGBY, Dec. 19. In the House of Commons Mr J. H. Thomas announced, amid cheers, the New Zealand Government’s offer to resume liability for the war debt payments to Britain if the suspension granted, following the Hoover moratorium, was made on the assumption of a continued moratorium by the United States. He said that the British Government was most apprecitative of the attitude of the New Zealand Government in view of their own difficulties and responsibilities', and he had conveyed that appreciation. The matter was receiving the Govemment/s attention.

The British Press expresses warm ap preciation of the New Zealand Government’s action.

GENEROSITY OF PROPOSAL. IMPERIAL SIGNIFICANCE. LONDON, Dec. 19. The newspapers give prominence to New Zealand’s offer to resume payment of the Dominion war debt, emphasising the generosity of the proposal and its Imperial significance. The Morning Post’s diplomatic correspondent says:—“The debts were suspended during the Hoover moratorium. Britain Iras never acknowledged that the moratorium has ended. It is plain that Britain intended the continued suspension to apply to Imperial as well as to foreign debtors, otherwise New Zealand’s half-yearly instalment would have been due in September, but this was neither expected nor asked for. New Zealand now inquiries whether Britain’s payment to America has altered tile position. Tlie answer is clearly 'in the negative. At the same time the people of Britain much appreciate the gesture, the more so as New Zealand is struggling with the difficulty of her Budgetary problem, and it would be a great effort to provide £875,000.”

New Zealand pays instalments on the funded war debt half-yearly, on June 1 and December 1.