WAR DEBTS.

Hokitika Guardian, 15 September 1922, Page 1

WAR DEBTS.

AND .N.Z. CABLE ASSOCIATION . .BRITISH FINANCIERS’ VIEWS. LONDON, gept. 13. A research committee eposisting ol Professor William Robert Scott (chairman), Professor Kirkaldie, Sir Joseph Stamp, and other political economists and .bankers, has presented a report to the Economic Section of the British Association, stating that the German reparations question had been confused by telectioni’criiig and political exigencies, “No unbiased observer,” it says, “imagines that Germany can out pay the enormous sums imposed ,by the -Peace Treaty. 1 1 the indcmii ities are reduced to the level generally .recognised as within Germany’s capacity to pay, her bonds might ,be saleable abroad, and thereby capital might he available for Franco and Germany to balance their budgets, and remove many of the hindrances to an industrial recovery.”

The report urges the immediate cancellation of the intor-Allier war d >bts where no payments have yet been made, ft emphasises Hint where payments have begun, a dislocation of trade would result from any sudden cessation. It also states that where debts were contracted for food and munitions when prices were exorbitantly high, they should be scaled down. The creditor countries should agree to receive interest in the shape of tariff free goods from debtors. Sir Drummond Fraser, n member of the Committee, contended that Germany was able to pay the full reparations if a genuine business proposition were placed before her by business men. BELGI CM’S CONDITIONS, BERLIN, Sept. 13. Belgium has requested German'’ to hand over, without delay, two treasury bonds, payable in gold, for o(),()()(>,000 gold marks, each on account of the payments due on August 15 and September 15, and also to deposit with the National Bank of Belgium 100,000,000 gold-marks.