WAR DEBTS.

Hokitika Guardian, 1 September 1922, Page 2

WAR DEBTS.

lU.STIIALIAN ANU N.Z. CABLE ASSOCIATION. , THE GERMAN CASE. j PARIS, Aug 30. The German representative, Herr Schroeaer, informed the Reparations Commission that a long suspension of one/ payments was necessary, owing to tho mark having fallen to one fourhundredth part or its value. Herr Schroeder proceeded to develop proposals submitted hy Chancellor M irth to Sir F. Bradbury and M. Mauclerc, for the deposit of fifty million marks, as a guarantee of deliveries in kind, and ot the creation of contracts with big German coal and timber contract tols. Tho Commission is now considering tho question of a moratorium. A decision is not expected before Tnursdny evening. GAMBLING ON MARKS. LONDON, Aug 30.

A remarkable gamble on German marks is uroceediug in London where none are now purchaseabie. There is a daily demand which will not diminish while the exchange remains at its present fantastic level. The basis of the •ramble appears to be the belief that, while Germany is unable to redeem the mark at par, slie wdl be in a post tien. sooner or later, to offer a compromise, which will be greatly to the advantage of the present buyers.

AMERICA’S ATTITUDE. > LONDON,. August 30. Governor Cox, interviewed with reference to President Harding’s announcement, refusing to send AI. Hoover to the Reparations Commission said:—“There is some ’assurance in President Harding’s hope that America may' later interest herself in the European economic situation.” Mr Cox added: “Let us hope our -services will lie those of the physician and not oi the undertaker.”