The Guardian (And Evening Star, with which is incorporated the West Coast Times.) TUESDAY, DECEMBER 18th, 1923. THE REPARATION INQUIRY.

Hokitika Guardian, 18 December 1923, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) TUESDAY, DECEMBER 18th, 1923. THE REPARATION INQUIRY.

A’.'Tkr months and months of quibbling, shuffling and procrastinating the Cnitod Stiites has agreed to participate in the Reparations Commission inquiry by a committee into (Germany’s capacity to pay, and President Coolidge Ixdieves the final proposal to determine Germany's financial capacity will prove the most substantial step in the direction of solving Europe’s economic problems, mid hopes it will result in a plan for the payment of reparations. In May, 1921, under the condition*; of the Treaty of Versailles, the reparations to b. paid hy Germany was fixed at the huge sum of ifO.fiOO.UOO.ODO. When that sum was fixetl, the judgment of the Allies "as still warped by the agonies of the Great War, and Germany had willynilly to accept the decision. The Germans were under no delusions, and they knew that it was beyond their capacity to pay any such amount within the life-time of a generation or even two generations. German capital took fright at the imposition, and German capital was fieuly exported and deported in foreign countries. German marks v.ore eon verted into the more stable currencies of foreign countries, and the doinoialisation of the German was only le..s severe than the Austrian kronen, or the Russian rouble. Jalter when the nations were able to take a calm and dispassionate view of the economic conditions of Euiope and of Germany in particular, it was freely recognised that Germany could not pay any such sum ns was fixed in May, 1921, and that must be obvious to everyone who is capable of giving the matter serious and ciitical eoitsiilertition. France, however, thought differently and sn did Belgium, and this led to the occupation of the Ruhr and the resultant chaos. Xo one desires to see Germany escape the full punishment she deserves for the frightful wrong she perpetrated on the civilised world in 1914, hut punishment for a crime mud -lie just and within the capacity of the criminal to hear. France has gained very little if anything hy her occupation of the Ruhr. She has not created in the Germans the will to pay. and she has been urged hy Britain to consent to a reconsideration of the problem of reparation payments by Germany, and it has taken France nearly twelve months to realise that this was the only course to pursue.