GERMAN REPARATION

Dominion, Volume 14, Issue 149, 19 March 1921, Page 7

GERMAN REPARATION

CREDITS AMASSED IN UNITED STATES

FOR PAYMENT TO ALLIES, OR FOR FUTURE TRADE?

(By Telograph-Preßß Association-Copyright

Nsw York, March 17.

The "New York World’s” correspondent at Washington reports that the Federal Reserve system of information shows that since the armistice Germany has been amassing credits in the United States, the National Banks holding funds in the names of individuals. It is presumed that these funds will be used for Germany’s future trade, much of which is expected to centre in the United States. It was said that the Germans used similar means to store funds in. Holland and Scandinavian countries, end later in London, after the British gave assurances that deposits would not bo confiscated. It is also thought that the funds the Germans are holding in the United States may be to pay off the reparations. It is recalled that the Allies included the Federal Reserve Banks as an optional depository * for German indemnity payments. —Aus.-N.Z. Cable Assn. ALLIED CUSTOMS BARRIER Coblenz, March 17. The new Allied Customs barrier operates within a week. France is hoping to gain substantially from it, but some quarters expect little, pointing out that the total yield of all German taxation is only three thousand millions sterling (?), of which the Rhine Cu,stems provide only a fraction. —Aus.-N.Z. Cable Assn.