Show Britain Cites 4 Reasons For Reduced War Debts Amount Not Made fade Known but Rumors Rumors' of pf 10 Per Cent Heard j in London Dr By- r JOSEPH ll n IL BAIRD T. T Press Pres Staff Correspondent WASHINGTON Oct S The ll-The reasons reason Great St Britain believes it is entitled nJ to its 43 war d bt X before treasury department de de- de- de officials today but the amount of ot the desired reduction re remained remained re- re a mystery T. T t Undersecretary of ot Treasury Achen Acheson Acheson Ache- Ache son n and Sir Frederick R Leith-R Ross Leith-Ross economic advisor to Great Britain were scheduled to meet again to to- to morrow Reports from irom London indicate the British want either a lump sum settlement of ot 10 cents on the dollar or a a. a series of ot reduced payments ENVOYS MEET The first serious approach to the war debt problem was made in a conference among Acheson Sir Fred Frederick erick crick Frederick Livesay assistant economic advisor of ol the state department department department depart depart- ment British Ambassador Sir Ronald Ronald Ron Ron- ald aid Lindsa and md Samuel Bell U. U S. S treasury expert which Acheson summarized summarized summarized sum sum- to the press last night A point four-point appeal was set out by Sir Frederick and is being studied by Acheson and his assistants It was 1 Great Drum received less fa favorable a a- a treatment when its debt was funded than did the other borrowing nations Figuring yearly interest on ont ontie t tie the e debts at 3 31 2 2 1 per cent the British s settlement accounted for 99 per cent of ol all money advanced by the U. U S. S treasur treasury whereas where s the French settled for or only 62 per cent and the Italians I for only 34 per cent PROSPERITY CHANGE 2 When When the debt settlement nt was made it was anticipated that world prosperity would increase whereas it has las diminished Specifically Sir Frederick pointed out at the time of the settlement the annual debt in instalments instalments instalments in- in amounted to only 25 per percent percent percent cent of British exports to the United States Now the pa payments exceed such exports Because of the decrease in n its balance of trade it is difficult for Cor Great Britain to make the necessary necessary nieces nieces- sary transfers of payment 3 Great Britain spent far more here during the war than the amount amounts iF j t I I I I 4 l I a. a v 4 4 S 'S W ji p pC S 'S C a UNDERSECRETARY ACHESON I borrowed sorrowed from the U. U S. S treasury thus profiting both American business business bustness busi bust ness and the government Sir Frederick Fred Fred- erl erick crick k estimated that British purchases here totaled and that 80 50 per cent of ot this was financed without without without with with- out borrowing from the treasur treasury 4 The war debts were not a commercial commercial com corn mercial loan Hence they did not produce produce produce pro pro- duce revenue with which to repay them hem Rather they were expended for or destruction in in shot and shell Sir Frederick estimated that 00 of ol the amount borrowed from the United States was spent for lor munitions alone |