GERMANY’S DEFAULT

Evening Star, Issue 21753, 22 June 1934, Page 9

GERMANY’S DEFAULT

REPRISALS BY BRITAIN POWERS IN THE BILL Press Association—By Triegraph--Copyrighl. LONDON, June 21. (Received June 21, at 11.55 p.m.) The ‘ Daily Telegraph’s ’ lobbyist says; ‘‘The Debts Clearing Offices and Import Restrictions Reprisals Bill will bo passed through all Its stages in the House of Commons on Monday and Tuesday. Though the Bill owes its origin to the German default, the new powers will have a general application. The trade balance between Britain and Germany is greatly in Germany’s favour. Britain last year sent £15,000,000 worth of exports and bought £30,000,000 worth of German goods.” FURTHER PROVISIONS IN BILL. LONDON, June 21. (Received Juno 22, at 1.30 a.ra.) Tho Bill empowers the Treasury to establish clearing offices if it appears that any foreign country’s payments or transfers to residents in the United Kingdom are subjected to restrictions or are prohibited or discontinued. It also empowers the Board of Trade to restrict imports from a foreign country which imposes quantitative or discriminatory restrictions on its imports from the United Kingdom, tho Channel Isles, Newfoundland, the colonies, protectorates, or mandated territories. DECISION OF LONDON STOCK EXCHANGE. LONDON, June 21. (Received June 22, at 1.10 p.m.) In consequence of Mr Chamberlain’s statement, the Stock Exchange Committee decided that German bonds will not be good for delivery unless certified as the property of a British subject on Juno 15. [ln the House of Commons on June 15, Mr Neville Chamberlain announced that, in view of Germany’s decision to suspend foreign cash transfers on State loans for six months from July 1, His Majesty’s Government intended shortly to propose legislation for sotting up an Anglo-German clearing office unless a satisfactory agreement ensuring fair treatment of British bondholders and British commerce was negotiated before July I.]