British Chancellor of the Exchequet's Belief that "These Facts Will Not Pass Out of the Mind of Any Responsible Person in the United States or Europe"
Mr. Chierokill: "We have insistently axe undertaken to pay what the incessantly demanded. That tupan us a charge of £28,000,000 at the present time, rising in, I think, seven years '£33,000,000. That is to say, putting it broadly, we have to the British Chancellor of the Exchequer and hie successors in a long line, have to pay, about £100,000 a day every day for more than three generations The debate in, the House Commons on. international debts, drought out clearly for the first, time the exact position of affairs between Great Britain and th Unites States so far as debt pay ament is concerned. Both Mr. Snowden, the ex-Chancellor of th: Exchequer, and My. Churchill, the Present Chancellor, made definite} statements which many readers may ike to preserve for reference, says the "Public Opinion." As' Mr. Churchill observed, "these facts not pats out of the minds of any responsible persons either in the United States or in Europe."
The Share of Our Income Tax Which Goes to America fare paying anneally to the ad States a sin of about £:4,000,000, rising ultimately to £33, (000,000, upon a debt which under the arrangement which has been made} will be Hiquidated in 62 years from the date of the funding of the debt," said Bir, Snowden in the course of the debate.
"If we funded our own claims for War debts on the same terms that we are paying to America, we: should be getting 84,000,000 a year} from our continental debtors, and we should be paying a maximum $58,000,000 a year to the United Stotes. That would leave us with a net gain of £46,000,000 a year, which is equal to Mu, in the £ on the in-!
"Now America is a friendly coun. try and T-do not want to say anything which would be regarded either disrespectful or disagreeable to that grent country, but T want to ut the facts. America entered the War 2} years afer the outbreak of, that time, she had busi roftably engaged in making war material for the Allies.
"The work on Inter-Allied Debts, published by the Bankers' Trust vf New York, makes these two statements:
American bankers, merchants, and manufacturers, and transport interests, profited to the extent of, over three billion dollars from. French disbursements in the United States alone.'
"It goes on to say that daring that time the Allied countries spent in the United States of Americal hi £2440,000,000 upon war munitions two and a-half years America' Aecidod ce enter the War, She 80, juding by all the statements that were made by President Wilson and other American statesmen, in great altruistic mood.
Text read from the printed page and cleaned; old type leaves the occasional error.