GERMAN MONEY.

Hokitika Guardian, 10 February 1921, Page 4

GERMAN MONEY.

THE PAYMENT OF REPARATION

NO SCHEME OF DISTRIBUTION YET:

NEW ZEALAND’S SHARE

WELLINGTON, Feb. o

A statement that Canada “will soon receive the first payment of her share of German reparations” has been cabled from New York. The money, it is stated, will not be drawn from the sums fixed at Paris last week, but will be part of the proceeds of the sale of German ships in England. Another payment in which Canada will share will be for expenditure in connection with the maintenance of the Army of Occupation on the Rhine. No exact information on these points has reached the New Zealand Government. The Prime Minister stated yesterday, in reply to an inquiry on the subject, that he intended to ascertain what was being done. He know, ol course, that New Zealand would get a share of the money paid by the Germans hv way of reparation, hut the amount and the date of the payments remained to he settled. The British Government is in possession of some millions of pounds derived from the sale of ships that had been surrendered by the German Government, hut it does not appear that any proposal for the distribution ol this money has been placed before the Dominions. Britain might reasonably claim all this money, since O’e losses ol Dominion-owned shipping during the war were inconsiderable compared with British losses. It should not he forgotten that the Dominions are holding money that may have to go into a pool when a scheme of distribution is arranged. New Zealand is in possession of much valuable property at Samoa. This property has been taken -from the former German owners, who are being given in return orders upon the German Government for the value of the land, plantations, etc. Any payments made h v tile German Government on these orders will count as part of the indemnity, and, presumably, will be deducted from New Zealand’s share when the distribution takes place. Another matter for consideration in connection with the distribution ol German money is the tact that the Dominions are in debt to the Mollici Coiinti v for advances made during tlie war. It was announced the other day that the Australian Treasurer had completed arrangements with the British Chancellor of the Exchequer for funding £00,000,000 of the Commonwealth’s indebtedness, including war loans and military debts. New Zealand s liability under this heading is not nearly so large as Australia’s, and no funding operation is contemplated. But it seems possible that in view of Britain’s very heavy indebtedness the Dominions shares of (lie German payments will he applied to the reduction of their wm debts to the Mother Country.