WAR DEBTS.

Hokitika Guardian, 27 September 1922, Page 3

WAR DEBTS.

A BASIS OF SETTLEMENT. AUCKLAND, Sept 25. Going to Honolulu to represent the Commonwealth Bank of Australia at the commercial conference of the i’nnPncAe Union is Mr Mark Young, one of the through passengers in the -Mali urn. which arrived this .norning from Sydney. Thev Union is an American idea to promote better relations among the people burdening on the Pacific Union. At the forthcoming commercial conference the subjects that are coming up include communication and transport with special reference to cable rates, development and conservation of natural resources, finance and invu-stments, and international relations in the Pan-Pacific area. Mr Young is to read a paper before the conference on tlici history of banking in Australia.

Referring to -Mr Young's departure from Australia, ‘‘Bank Notes” a banking journal, spoke ol the: matter upon which lie bas written on several occasions, a matter which affects the whole Empire, the burden of the war debts. Mr Young bolds that victory over Prussianism was equally valuable to and, therefore, every one of the Allies should bear its proportion of the total costs of the war. His suggestion is that America should contribute towards the cost of the war since 1914 although she did not actually come into .it until some years later. As a I suffered the same danger, so they should all bear the cost of victory, says Mr Young. As a basis of settle* input, Mr Young suggests that the Allies should strike a general average on lines similar to those followed when a vessel is damaged. ______