LONDON CONFERENCE

Hokitika Guardian, 9 August 1922, Page 2

LONDON CONFERENCE

VIEWS OF POINCAIRE.

AND OF HON. LLOYD GEORGE,

.VUS'I UAl.l\N ANI) N.Z. CAltl.H ASSOCIATION, I _ - .

LONDON, August 7

Crowds of holiday makers witnessed the assembling of delegates to the Inter-Allied Conference at Downing Street comprising Britain (Hon. Lloyd George, Mr Chamberlain, Sir R, Horne Sir V ortliington Evans), France (M. Poinonire, and M. Delastey as Minister of Finance), Belgium (M. Jespar and M. Theunis), Japan (Rayashi), Italy (Schanzer and Pnratore, Minister of Finance). The Conference sat for two hours in the morning and three in the afternoon The following are summaries of the speeches semi-officially issued after the adjournment. M. Poincaire since lie had last conversed with Mr Lloyd George, in London, two important events had occurred. Germany’s demand for a complete moratorium till 1924 and Sir A. Balfour’s note. France had spent eighty milliard of francs upon reparations, which Germany should have paid resulting in a very critical financial position in France. France could not reduce her armaments, because she was not satisfied regarding the security, owing to lack- of the guarantees originally given her at Versailles. Further taxation in France politically and socially was impossible. ’Die devastated areas could not pay. The people of France did not possess large fortunes, like British people, which could bo taxed. The Versailles Treaty was being less and less carried out. Germany despite constant protests, had embarked on reckless expenditure and had inflated the currency unscrupulously. The French viewed the granting of a. moratorium to* Germany as impossible, without productive guarantees there- ( from. If left alone France might take strong measures, hut she wanted to Work with all her Allies and throwall her cards on the table. M. Poineairc enumerated the proposed guarantees, the nature whereof, wag not re- , venled.

| Hon. Lloyd George detailed the dis- , armament which Germany had carried otlt in accordance with the Treaty. Germany as a military power, was pro. '.stratod, broken and in tile dust. Despite the remissions of payments granted her, Germany bad actually paid reparations amounting to five hundred million

sterling. The war was more costly to

Britain than any ally. Britain in wartime bad raised three milliards sterling ill taxation. Mr Lloyd George quoted from the Bankers Trust Company of New Vork the Mowing totals of war costs:—Fratlce 3?s milliard dollars; Italy 14$ ; for British Empire 49. Mr Lloyd George contended this gave the Britisn a claim to reparations even if the devastated areas reconstruction was added to France's war costs. LONDON. August 7.

At tile Inter-Allied Conference, Mr Lloyd George said that if France is entitled to recover 160 million sterling, lie believed Britain should be entitled to inn., hundred million. -

Regarding the devastated areas, he said that, while not minimising the terrible injury to France, he would remind M. Poincaire that Britain had had devastated trade, which, he claimed, imposed an equal burden on the whole population. Britain had a. burden of fourteen hundred thousand unemployed. The population in tlie devastated French areas was two millions. The total number affected by the unemployment in Britain was between four and five millions who had been supported from taxation.

He said that, speaking with practical experience as a Minister of Munitions, he knew the quantity of equipment Germany had handed over. He said it would take thirty years to manu. facture as much secretly in Germany, At present Germany was unable to equip an army fit to meet one of the vessel’ ,Allied States. On the disarmament side, lie said, the Versailles Treaty had done its work. It must he remembered that there had been three revolutions m Germany. The Berlin Government had only incomplete epntrol over some provinces, like Bavaria. Despite this the Allied Committee on Reparations Guarantees had reported favourably on a German effort to collect taxation.

It was true, said Mr Lloyd George that- Germany is continually crying out about her terrible condition, but he did not think that they were hound to accept this without inquiry. He said he did not desire to relieve Germany of any payment she was able to make. Tlie Allies were all equally Interested in wresting ns much from Germany as possible. Mr Llovd George said it was all a question of finding a method which was h’kelv to produce solid cash, instead of increased trouble

He suggested that M. Poineaire’s proposals be referred to a Committee of Finance Ministers, and experts, which could report thereon at a plenary conference on Tuesday. Signor Sehanzer (Ttalv), M. Theunis (Belgium), and Baron Hayashi (Japan) supported Mr Lloyd George, urging that the Allies’s single object was to get the. money

TENSION A'l’ CONFERENCE. LONDON, Aug 8,

The “Daily Telegraph” says:—The conference met in an atmosphefe of considerable tension. It was owing t-o this that the utmost secrecy was maintained. At an interval, Mr Chamberlain, by means of a felicitous intervention. elicited from M. Poincare a clear intimation that, while the principle of his proposal for control must he accepted, a selection therefrom, could he made hy a committee of experts. M. Poincare’s suggestions included, the supervsiion of the Reichs Bank, export, licenses, foreign currencies, mines, forests, extra customs, coal taxation and a, share in industrial concerns. Mr Lloyd George at one stage, reminded M. Poincare that he was usurping the functions of the Reparations Commission. M. Poincare good humouredly rejoined:—“l often hod to charge you vritTi tho '(irno jhlflc ”