GERMAN ITEMS

Hokitika Guardian, 25 August 1923, Page 3

GERMAN ITEMS

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. FRENCH HOPES. LONDON, Aug. 22 The "Morning Post's” Paris correspondent says: Official French circles believe the written discussion might now ho allowed to lapse. A meeting hot ween Mr Baldwin and M. Point-are in Paris, alter Mr Baldwin's return from Aix-Los-liain-. might lead to useful results. No arrangement has been made, but there is reason to believe a meeting will take place. PLANS TO MOBILISE WEALTH. PER LIN. Aug. 22 After three days' and nights’ work Chancellor Strosemann and bis colleagues have completed plans for im.bilisiag German wealth. A feature of the Government’s nrograinine seems to be the creation of a foreign currency fund of several hundred millions of gold marks, with which to make serious attempts to stabilise the mark. Everyone possessing foreign currency is wanted to transfer the same to the Reielisbaiik. These ja.mounts will count as subscriptions to a gold loan .‘should it appear not to succeed, the Government, will have recourse to compulsory measures. The aim of the Government is apparently to encourage exports of German products, with tho utmost energy, and Li throttle the import trade, except in eoal and food. The Government has also decided to hustle the taxes into the Treasury mercilessly. Herr Stresemann addresses the leading bankers and in. dustrialists announcing the plans of the Government, which subsequently will be placarded throughout the country. The Government’s taxation proposals are criticised adversely on tho grounds that thev will reduce wages and cause unemployment. Meantime, foreigners are leaving Berlin, ami the hotels and restaurants are half empty, while the night-life haunts are deserted. DEATH FOR SPECULATORS. BERLIN, Aug. 22 The German (aliinet. lias decided ti compel the industrial magnates to contribute a portion of their reserves to the State. Speculation in foreign cur reiteies will lie rnthleslsy stamped out The death penaltv "ill be indicted C the worst eases, ami ban] labour in others. IHLFKRDING'S ADVICE. (Received this dav at 0.0 a.m.) BERLIN, Aug. 21. Ilerr ! lilferditig, addressing the party leaders in the Reichstag, said that if German eitrreucv were further inflated it would mean death to Germany. The State was hound to pay contributions to the municipalities and to keep up payments to the State dopnrtments, otherwise, there would he a national breakdown. Stabilisation by taxes alone was impossible. The deficit on the railways for liepast year was •101 l billion marks and the deficit under the Peace Treaty amounted to many billions.

It was intended to compel the people to deliver up foreign eurreiiees and force industries to sell out stocks, thus hoping to get hack to a gold standard. If the rc-ults are unsatisfactory stronger measures will have to be taken. Every German must be prepared, in llu> near future, to make sacrifices otherwise a tremendous catastrophe would face the country. Tie new Government was the last bulwark against complete ruin. BRITISH ANSWER. (Received this day at 11. lo si.in.) .LONDON. August 21. There is no prospect of an immediate answer to the French Note. Careful consideration is required of many complex questions involved. Cabinet is unlikely to meet for some days, especially as it is desired to have B‘ Igium's reply which will not reach London before Monday.

A high authority commenting on the French Note says what perplexes the British authorities is the reiterated statement that British advances Tor the purpose of reaching a settlement represent no sacrifices on Britain's part. Friuicc wants twenty-six milliards first, leaving her debts to be met by a subsequent contribution. Whether the. latter can Vie collected or not is another matter, 't et we are told Britain’s motive is money. In actual truth this country had relinquished a sum almost equivalent to the amount required hv France to rebuild hci devastated regions. Were V ranee prepared to make corresponding contribution towards rehabilitating F.urope generally, genuine progress would be made in solving the economic problems confronting both countries. The “Morning Post’s" Paris correspondent says there are abundant press comments cm M. Poincare's note especially regarding the declaration tlmi France will be unable to pay principal and interest on her debt to Britain until full reparations have been received from Germany and secondly that both sides having stated their ease and

figures to the world, the wily lot fit agreement is now open. 1 hat no useful purpose can he served by a furtaei (‘xchflng!* ot notes

" Kvon the Radical press refrains fren rriticisitg M. Poincare. Hon-iet (Leader of the Deft) "ho hopes to succeed M. Poincare, wr, in? to the press, while emphasising Hi itaiti"s financial and economic did.cultios argues that M. Poincare's < harlevillo speech on the H'tli. indicated the onlv helpful wav out. when he pleaded f„i-' a search for a practical solution

stead of continuing controversies