The Guardian (And Evening Star, with which is incorporated the West Coast Times.) FRIDAY, JANUARY 4th, 1924. OCCUPATION OF REUR.

Hokitika Guardian, 4 January 1924, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) FRIDAY, JANUARY 4th, 1924. OCCUPATION OF REUR.

A vkait ago French and Belgian forces occupied the Uuhr, the most important industrial district of (Germany. 'I liis step tv.as taken, mi its advocates said, in order, to secure payment ot repaiatious as laid down generally in the Tieaty of Versailles and fixed definitely liy 1-e Keparaiions jihAiiniisslon. Looking back over the year, one thing is very appiirent, namely, that whatever else armed occupation may have done, it certainly has not produced anything in the shape of reparation payments. So obvious is this fact that, in a recent siieech, VI. |’oincarc laid to change hi- key. The policy, he said, was never designed to produce; actual payments, hut to pioduee in Germany the will to pay. In th- light of the year's experience this drastic move, quite the most momentous event ill the history of 1C u rope in Idl'd, vt ill he voiv carefully examined. It iutiodueed a new precedent in modern European affairs, for while, after the Eranoo-lTussiun war. f li.smarrk decided to maintain a hold on certain French possessions until the indemnity had been paid, he did not do as the .French have done, advance further into the enemy country than the. armies had gone, and seize

vit:>l industries. Already the effect of his policy has been seen in Europe for not not long ago Signor Mussolini, defending flic tiniH'd oeeupation of Corfu, said pointedly that, Italy “had as good a right to seize territory as a gunge as had any other power.” But whether tlie policy pursued by France is endorsed or condemned, tine tiling is certain. Germany must pay. In the years 1910-12 the German industrialists made marvellous progress. They issued preference shares in many ventures, and i* is estimated that 8d"„ of these shares were taken up hy workmen and the middle class. In IS) 19 the mark began to fall, anil as it fell these magiiatr.s saw their chance to huv hack this stock for a pittance. They deliberately depressed the mark, forced the poorer shareholders to sell, and for a fraction of tin: initial price, bought hack all the shares. To-day Germany has no debt, domestic, municipal, or foreign, anti so can undersell all nations in the markets of the world. The nations that won the war. baldened hy huge del ts and restricted markets, certainly cannot allow the country that instigated the conflict and later inflicted the damage, to escape payment of just reparations. The cablegrams supply very conflicting accounts of the position in Germany but, according to an America 1 observer, “despite the refusal of millions to work, and the fact that the average output per man was only two thirds of what it was ltofore the war, Germany produced in 192? more pig iron and steel than Britain. Franoe and Belgium together.”