GERMANY'S DEBT

Dominion, Volume 12, Issue 264, 4 August 1919, Page 7

GERMANY'S DEBT

RESOURCES INSUFFICIENT TO MEET IT

FRENCH FINANCE MINISTER'S

OPINION

Bj; Teletraph-Presa Assooiation-OopyriKnt (Rec. August 3, 5.5 p.m.) Paris, July 31. M. Klotz. Minister of Finance, informed the Peaco Committee of tho Chamber of Deputies that tho total owing by Germany, including the cost of the war, was over a thousand milliards of francs, implying, with 5 per cent, interest during seventy-five years' liquidation, nearly two thousand Billiards of francs to tho Allies. He thought Germany's resources would mako that payment • impossible, but ho had not declared Germany's inability to pay the cost of tho war and the principal debt established by the Treaty, under which tho Germans must pay pensions allowances and reparations. It would have teen dangerous to fix the net total, owing to fluctuations in values. The figure, however, could be settled by Alay, 1921—Aus.-N.Z. Cable Assn. CUSTOMS BILL PASSED DEPRECIATION IN BANK NOTES. (Rec. August 3, 5.5 p.m.) Berlin, July 31. The National Assembly passed the Customs Dutios Bill. Duties must be paid in gold. If German l)ank notes were used, therp would be additional charge of 240 per cent.—Aus.-N.Z. Cable Asgn.

UNEMPLOYMENT AND STRIKES IN BERLIN SERIOUS COAL SHORTAGE. (Rec. August 3, 5.5 p.m.) Berlin, July 31. There are 180,000 workers in Berlin in in receipt of out-of-work pay. Strikes are involving tens of thousands daily. A serious, shortage of coal is imminent. Whereas ninety million tons are required for industries, only ten. million tons are avialable, threatening unemployment of a million Germans in the autumn.—Aus.N.Z. Cable Assn.