LONDON CONFERENCE

Hokitika Guardian, 11 August 1922, Page 2

LONDON CONFERENCE

AUSTRALIAN AND N.Z. CARLE ASSOCIATION.

COMMITTEE OF EXPERTS. LONDON, Aug 8

It is understood that a majority of | opinion of the Committee of Experts, is against the French proposal for the establishment of a customs’ harrier and imposition of taxation ill the occupied area. The proposal to seize the mines, and forests was also rejected, hut the committee will lie invited to < onsider a system of guarantees ensuring a supply of coal and wood for the Allies. The proposal to ask Germany to agree to a share of industrial concerns being given the Allies, was likewise rejected. The Committee generally favoured M. Schanzcr’s view. There was a contradiction between granting the moratorium and taking German property. It was also held these steps "ere unnecessary in view of the guarantees lately imposed, hut the Committee on Guarantees felt it necessary not tolook at some of these matters from the financial standpoint, hut to take into account their political and mora effects. , j The French Minister of T inanee did I no t attend the afternoon meeting.

THE GREY NOTE. LONDON, Aug. 9

The Grey Note was the cause 01 a. good deal of political friction, an made the prospect of a settlement more remote. It was essential Hint the German Reparations should be reduced to a practicable amount. France had experienced the * ull of war, hut a complete collapse of Europe would be the greatest saenfice France could make. Speaking generX the policy of splendid isolation was no longer possible.

A deadlock

LITTLE HOPE of AGREEMENT

LONDON, August 9. The latest reports iikliefitu that the Allied Conference situation is no" cn is little prospect of any agree,U<f special meeting of the British Cabinet has been summoned for t morrow to consider the Bnt»h pdic , when «rrave decisions may have to lie made. "This is owing to the JrenA views differing from those of the other Al Mr Llovd George, M. Poincaire, and M Thcunis, had three hours convention to-day, discussing the Unfortunately,, little pi ogress made.

EXPERTS AGAINST FRENCH PROPOSALS.

LONDON, August 9. The presentation late to-night of the Allied experts’ report revealed that t A I S entirely hostile to M. Pomeaire s uronosals. „ , This has brought the conference to a or W* necessitating the hasty calling „f tlm British Cabinet Thus meeting wiU he held on Thursday afternoon. . . There will be- no full meeting of the conference to-morrow. It meets on Friday instead, after the Cabinet has decided the British course of action The experts’ report deals with M. IMincairert proposals seriatim, with a view to deciding "lint lus cash proposals will produce. This was the only point of view considered. Regarding the proposal that the Allies’ should establish control ot the coal mines and forests of Germany, the Italian. Japanese and British experts agreed that it would produce no cash, and would be useful only as a sanction. , The Belgians, however, supported France in this proposal. . Ree.irdine the suggested establishment' of a customs line between the Occupied Area and the rest of Germany. also around the Ruhr area, all the Vibes except France, agreed that it would he 1 letter to take over the present normal customs arrangements, at the present frontiers, than to cut up Germany by a fresh customs line. Regarding the proposal that the Vllies should take over a sixty-per-cent. share in the factories on the left hank of the Rhine, all the Allies except France opposed the suggestion, on the ground that the only manner of taking over a share would he to compel the German Government to buy out the present proprietors', and hand their shares to th o Allies. The German Government, it was held, could only do that by printing fresh paper money, the result of which would he to aggravate the currency situation.

The experts felt that there could be no teal moratorium in remitting the present forms of payment by Germany if thereby they simply imposed other equally onerous forms of payment. 'Hie London “Daily Telegraph” points out that the position at the conference was so grave on Tuesday night that M. Theunis (Belgium) had successive interviews with Mr Lloyd George and M. Poincare until 1.30 in the morning, in an attempt at mediation. After all the delegates had luncheon together, it was announced that the experts would deliberate again in the evening. M. I’oineaire seemed determined to return to Paris with some definite scheme relating to the Ruhr in his pocket as the French Parliament had expected and demanded. M. Poineaire (continues the “Telegraph”) pointed out that France could accept some pledges involving paper marks payment, as she could use the, same for buying German goods. LLOYD GEORGE’S ARGUMENT. Mr Lloyd George to-day made it abundantly plain (says the “Telegraph”) that lie was not prepared, in the present condition of Europe, to embark on any scheme which would* involve the sending Allied officials to Germany with the risk of enusing civil disturbances and probably necessitating the use of military force.

WILD GERMAN SPECULATION. BERLIN, August 9. The Berlin Bourse was the scene of wild speculation in mining and industrial shares, which soared 730 points owing to h public gamble, partly the

result of a buying of industrial shares by American, British and French capitalists, and partly due to the realisation that industrial shares have not advanced in proportion to the fall of the mark.

FINANCIAL BAROMETER FALLS. LONDON, August 9. Latest exchange rates are:—On Berlin 3575 marks to £1; on Paris 55.35 francs. The declines are attributed to apprehension regarding the outcome of the London conference.

ALL FRANCE BEHIND POINCAIRE. PARIS, August 9. ’i^. The newspapers assort that all ) France is behind M. Poincaire. The papers express- dissatisfaction with the London developments. The “Figaro” says;—“France does not want to pay for Britain’s mistakes or for the Germans’ crimes. Mr Lloyd George thinks he is protecting the peace of Europe against us, but in reality, lie is protecting Germany and not peace.” “T/Eelair” remarks: —“The Allies show towards Germany a scrupulousness and a consideration which they denv to their old ally, France.