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Hokitika Guardian, 19 July 1923, Page 2

But what is the attitude of Britain towards Germany to which France takes such exaggerated exception! Very few sensible people could take exception to the British statement of the ease. Germany was tokl in clear but dignified terms that the sum offeied was quite inadequate by way of reparations, nor were the guarantees of payment sufficiently secure. But the British statement left tlie ui»or open still from Germany to come forward with a much more serious and more preciso an offer. Of course the financial position of Gormanv by reason of the 11 actuation of tlie mark, is so unstable in itself tiiat while the Allies may demand, it must be recognised it will he difficult indeed to formulate a bchemo which in itself can be described as securely stable. The depreciation of the mark, and the fact that the printing presses of Germany are still busy manulaeturing this almost, if not actually, worthless paper, renders the future absolutely insecure. It is conceivable of course, that because of this, France is looking for payment in kind rather than in cash, so, like a bailiff, enters the country to take what she can lay her hands on. This is not a very heroic course, nor d<x‘s it recognise the right of tlie Allies who fought beside her to some share of the plunder she is anxious to appropriate to herself.

Tiik discredited mark lias caused Germany in other avenues of trade to seek to repay loans bused on the values ol commodities which she can market. In that way loans have been negotiated based on rye, wheat, coal etc,, and. no doubt large sums have been raised. The mark itself is of such po-’r value that doubtless it would be repudiated by the German iample as a whole if there were anything to take its place. Ihe real situation has been examined again and again by financial experts, including the strong bar of financial magnates associated with the Reparations Commission, but in no ease has a reasonable scheme for liquidation laeen brought forward. If the Allies ai* not able to devise plans in concert, what hope is lljcre of a single Power suckin'* to im[oso its own will, and by force demand something which is not there. Germany, it can lie well understood, trill lie reluctant indeed to sulvseriho to tho demands ol I'ranee singly imposed, and whatever Trance is forcing out of tho country must he, not only at a very high percentage of cost, hut also to the disadvantage ot her Allies who are standing by while forced plundering is going on.

So on this fourth anniversary ot tho official ending of tho war which drained tlie world of its male population, and emptied the treasuries of the world Powers wo find the world itself still tottering and unstable, and uncertain of me. future. Peace of a doubt I ill character is being patched up w ith Turkey. Great concessions were given there that there might bo no eastern war. 'the suggestion occurs why concessions probably even greater, should not be given that there may he no fmaneial ruin fall upon Europe, and that the international feud between Franco and Germany may he laid at- rest for the time, being at least. That is the obvious objective ahead, hut how it is to he reached is hard to say. Tim United States which might have done much to assist in healing the situation, deeftm)>e<l at the critical moment, though leaving Europe to settle terms which ox-'Prerident. Wilson was responsible inn inly for propoviiipj. Great* Erit.ain as asiiftl appears to still have the heavy end of the stick. She has temporised with France and encouraged Germany to do the right thing. The outcome is in the lap of the gods, but withal Britain has played a great part nationally, and that even this semblance of peace we enjoy was at all possible, must in tho main he credited to the natioiieo and self-sacrifice of Great Britain.