THE GERMAN NOTE.

Hokitika Guardian, 4 May 1923, Page 3

THE GERMAN NOTE.

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. POIKCAIRE'S VIEWS AWAITED. LONDON*, May 3. 9- It. was lato in the evening when .M. --Poincare read the text of the German Note. This was owing to its being handed in in German, and having to be translated. The French Premier will announce his view to a Council of the Ministers to-morrow, but there is no doubt about the unfavourable French Government altitude towards the Note. LONDON FI?ESS COMMENT. LONDON, May 2. The German Note is regarded In J London as being inadequate, and as especially unfortunate in its Ruhr refer'■—cnee; but there are indications of an impression that it "ill lead to an exchange of views. ’I he fact that it is addressed to all Lowers and not only to France, is being stressed. The '•.Morning Post” says:—"l he framers of the Note have served up a mess of stale, rejected ingredients. D is an unwholesome dish which persons less fastidious than M. Poincare would instantly reject. The sum offered is

quite inadequate. The guarantee for "v its payment is an exceedingly vague one. The only guarantees worth having are those which General Degouotte has seized in the Ruhr. \et, the starting point of any negotiations, according to the German Note must he the restoration of the status quo within the shortest possible period. The “Morning Post” concludes with a plea that France and Britain should Seek for an agreement regarding the sum which Germany tan reasonably pay. “ff,” it says, “the two Allies were to come together, then Germany welcoming such an excuse, might save her prestige and her integrity l\v an instant surrender.” The “Daily Telegraph” asks: “What is to lie said of a document which announced, almost at the beginning, that the German passive resistance in flic Ruhr will he continued until the late-ly-invaded areas are evacuated Y By this fatal phrase alone the prospect of this Note leading to any renewal ol negotiations has been destroyed. 'I lie Note, which as a whole is weak and adoption of a stiff-necked altitude on the main point in which the trench amour propre is concerned. Me discern no hope whatever of a renewal ol negotiations on the basis the Note —. has laid down.”

THE GERMAN OBJECT. LONDON, May 2. The “Daily Express” says:—“The German Note opens up the prospect ol a difference from file stalemate position of the past few weeks.” Tlio paper expresses the opinion that it is by im means certain that this is Germany's last word in the matter. The “Daily Chronicle” remarks:— “The howls of denunciation with which the Paris press lias tried to drown this * offer, even before the text of the Note was known, show that hatred and revenge remain stronger motives in France than any sincere desire for payment.” At the same time tlio “Chronicle” thinks that the oiler oi 1500 millions by Germany is too small. A WAITING GAME.

BERLIN, May 2. There is practically no German comment on tlio Note, the newspapers having apparently decided In postpone any expression of their opinion until the news of the Note’s reception in Paris and London arrives. The “Vurwner'ts” (Socialist paper) however, is glad that tlio way lias been opened to negotiations. The “Deutsche Allgemaine Zeitung” •the chief organ of the Stinnes Industrial group) says: “This offer is even beyond Germany’s power to pay. Certainly it is the highest one ever made by a vanquished power.” Chancellor Cinio, in an address, said that the Note was a step towards negotiations. . TEXT OF THE NOTE. (Received this day at 8.30 a.m.) LONDON, May 3. The official text of the German Note refuses to renounce passive resistance ■ until the territories occupied beyond tlie Treaty of Versailles have been cvi’j -iii’.'ed. Notwithstanding' the. events of the last few months, Germany is ready to fulfill all she can for reparations. Every solution, however, must include an elastic factor as it is impossible to put forward au infallible estimate.

Germany cannot raise capital out ol her own resources. As the trade balance shows no surplus she therefore stands, in need of a- foreign loan and it also proposes that Germany’s total obligations for deliveries in cash,and kind lie fixed at thirty milliards of gold marks, which would be raised by throe loans mi the international money market.

The first instalment of twenty milliards in July 1927, live milliards in July 1929, and five milliards in July 1931, with interest at five percent and a. sinking fund one per cent, will be paid after. July -1927.

TENOR OF FRENCH VIEWS. PARIS, May 3.

The general tenor of French views is that France will probably refuse even to consider the German Note. “I.e Temps” declares that Germany, in demanding the evacuation of the Ruhr before loans can be raised o: payments made, is rejecting one ol France’s fundamental conditions. further. PARTICULARS. (Received this day at 9.25 a.m.) LONDON, May 3. The official text further states that the two later loans cannot be Billy raised within the time limit, but is to ho left to nil impartial International Commission to decide.how the rest oi the money is to be raised. This is tne utmost limit that Germany is able to pnv, but if the others do not share the opinion, the German Government proposes to submit the reparations problem to an International Commission such as Mr Hughes suggested. The Government is prepared to devise suitable measures in order that the whole German national resources shall participate in guaranteeing the service of the loans. It is however, necessary that the high handed seizure of pledges and sanctions should cease ill the future. This implies that the stipulations of the Versailles Treaty in refusing economic equality to Ger- ' many should cease. The first essential to the negotiations must he the restoration of the status quo ante in the shortest possible time, and also the release of German prisoners, while those expelled must be allowed to return to tho Ruhr.

FRENCH CABINET REJECTS OFFER. PARTS, May .'i. Cabinet rejected the ofler, owing to the conditions laid down, the. absence of guarantees, and insufficiency of the amount offered. M. Poincare confers, with Belgium m framing a reply and deciding what communication will be lieh] with the f>tbe? AlliflSi

NOT ACCEPTABLE. LONDON, May 3. The French Cabinet unanimously decided that the Gel men offer was unacceptable. NOT ACCEPTABLE. PARIS, May 3. A semi-official statement regarding tlio German offer says the Franco-Bel-gian Governments arc faced with practically no option, but intensifying the exploitation of the Ruhr. They consider Germany in claiming the remission of the huge debt, should have offered six times the amount suggested. The offer simply suppresses the Treaty and victory. “Le Matin” declares it would represent ruin and defeat for France without precedent if there were any thought if taking the offer into consideration. The French Cabinet meets today and it is expected its reply will amount to a total rejection.

The “IVtit Journal” (M. Loucheur’s organ) while not condemning and not rejecting, says it is partially insufficient and pat tin Ily unacceptable. The paper reproaches flic Germans for again psychological sense. GERMAN VIEW. (Received this day at 11.15 a.m.) BERLIN, May 3. Herr Cuno in a speech to the States, on the Note, emphasises that the price of peace must be one which we could pay, and under such conditions ns would not infringe our independence, safeguarding us from paying our reparation obligations. Government at all hazards would adhere to this policy. Only by negotiations, face to face, could they discover what tlie other side requires as a sufficient gun ran tee.