GERMAN ITEMS

Hokitika Guardian, 13 July 1923, Page 3

GERMAN ITEMS

4 T7BTKAMAN AND N'.Z. CABLE ASSOCIATION. BRITAIN’S PREMIER'S ATTITUDE. (Received this day nt 12.25 p.m.) LONDON, July 12. Premier Baldwin in the Commons said we me as determined ns the Allies that Germany shall pay reparations to the utmost of her capacity, hut if she he asked to pay in excess it would mean Germany's ruin, which would he fatal to Britain and Europe. Less reparations have been received since the Ruhr occupation nnd what is now being' exacted is at the cost of dislocation, and probable collapse of the German economic system. A reply to Germany would he proceeded with forthwith. It was not too much to sav that the recovery ' of the World was in dancer and peace was at- stake, Tu these < ireumstames, the ncees-ity for action had been in- __ creasingly impressed upon Government. The Get man Note should not he ignored. hut explored. Government have inj formed France, Belgium and Italy that it would take responsibility lor draftin" a reply and submit it to the Allies without, delay. Such a reply had n<> other object than the pacification of Europe.

DRIFTING GERMANY. (Received this dav nf, 0.15 a.m.) BERLIN. July 12. That Germany is just drifting is the only conclusion that can he arrived tit. Neither the Government nor any authoritative body has a deliuite plan dealing with the situation. Everybody looks to Britain to help, hut has the haziest ideas how help is to be forthcoming. Prices ri«o daily and every individual is forced to take drastic steps to regain solvency, either by curtailing expenditure or finding fresh ways of making money. Ihe Government alone goes the old way. still prints notes to cover expenditure, and raises taxes. The Reichstag was dissolved without the slightest pretence of altering the Budget to cope with the depreciation ot the mark. Parliament introduced it Bill automatically adapting taxation to the mark’s value, hut Meries (I* inanec .Minister') in the National Parliament declared it was impossible lor German,** to act similarly.