Ogden Standard-Examiner | 1921-02-06 | Page 4 | Inquire Details of Allied Loans

INQUIRE DETAILS OF ALLIED LOANS Houston Won't Change Form of Debt But Will Let His Successor Act WASHINGTON, Feb. r. Two phases phas-es of allied loan status discussion camo up today In the senate a latter from Secretary Houston read by Senator Lodge, declared tHe treasury department "would not for obvious reasons proceed further with negotiations for exchanging allied demand de-mand obligations held by the treasury for long time obligations, in order lo leave his successor free to act." This was followed by Insertion In the record of press account? of remarks of J. Austen Chamberlain, chancellor of the British exchet o,uer, stating that formal proposal had been made for cancellation cancella-tion of allied Indebtedness and rejected reject-ed bv the United states TE KMl.li V.BS1 RD Senator Knox, BoHibll..in, Pennsylvania, Pennsyl-vania, took occasion to deny that he had ever offered n resolution proposing propos-ing to remit allied debts as has been print d. The statement Was ' a perfect absurdity." he declared, i Secretarv Houston, In his Icttor. said Liberty bond act "contemplated " exchange of the foreign demand obligations obli-gations for long-time promises to pay and that negotiation! had proceeded as told In Ifis last annual report. In August. 102u. he said, an arrangement was i r. : . 1 . with the :rri.sli jM r. sped of 1122.017,688 of its obligations held by the 1'nlted States, under which $17.-033 $17.-033 of principal, together with accrued interest have been rialdv EXPLAINS VKGOT1 VTIONS. "The accrued interest on the remainder remain-der becomes dm during April and May. 1921," Mr. Houston added. "Thereafter Interent is payable semiannually semi-annually and principle becomes due In eoual annual Installment: during April and May of the yean 1921-22-28 and j!4. The negotiations aforemeritlonen were conducted almost entirely orally. There have not beeil any official proposals pro-posals on the jnibjsict that would In any Way bind this government or the foreign for-eign governments other than the agreement of the foreign governments contained In their demand obligations held by the 1'nlted Slates to give long time obligations, If requested, In exchange ex-change therefore."