The Guardian (And Evening Star, with which is incorporated the West Coast Times.) THURSDAY, MARCH 6th, 1924. REPARATIONS TANGLE.

Hokitika Guardian, 6 March 1924, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) THURSDAY, MARCH 6th, 1924. REPARATIONS TANGLE.

High hopes are entertained that the Reparations Committee of Experts presided over by General Dawes, the United States representative, has succeeded in formulating a plan that will aesult at long last in putting Europe upon the right path so far as economic reconstruction and trade revival are concerned. As foreshadowed by the London “Sunday Express,” it is anticipated that the committee will recommend an international loan of £250,000,000 to Germany. Of tins sulm, France and Belgium are to receive half n.s part of the reparations due them, the share of France being sufficient to balance her Budget;' while the ether half is to bo devoted to the establishment of a German gold note bank. It is understood that the proposal is that the loan should be raised on tho security of the railways in the Buhr and the Rhineland; and that, while the Experts Committee will not infer specifically to the evacuation of the Ruhr, it will indicate the sum that it estimates Germany could pay if tlm occupation continues, comparing

"ith it tlio larger sum which could lie laid if German unity were re-estab-li.shed. It i.s interesting to note that, ns t'ho “Sunday Express” points out, though Britain i.s expected to find the greater portion of the loan, she would not share in the distribution of reparations from this source. This, of course, is only what was expected. In Europe, Britain is tlio only country that can contribute substantially to wards an, international loaji of this Kind, and tho only country Unit can lorego, for a time at least, the reparations due to her. Indeed, tlie only other country in the world that can contribute materially to such a. loan i.s the United Statos; and America, of course, has claimed nothing by way of reparations. Thus, again, we have, most strikingly illustrated the strong liraeial position of Great Britain, who not only linancwd her own share of the cost of the war, and very largely that

cf the Britains overseas a.s well, 'but also rendered great financial assistance to her European Allies, borrowing partly from America for that purpose, besides guaranteeing America's loans to Fiance and other Allies. Britain, too. is steadily paying off her debt to Amdira; and. while asking no lavours herself, is doing her best to lighten tlio debt burdens of other nations. Her sole desire in acting thus is to assist hi the stabilisation of the position—economic, financial, and political—of Europe. For Britain well-knows that .■oxb stabilisation is a- “sine qua non” for tiki maintenance of world peace; and. as always to (|imtc John Bright - “tire greatest of British interests is | face.*' It. is to be Imped, howe'er, tbai tile United Stales will not lecive Britain to shoulder the whole, nor even the greater |iart. ol (lie burden iif finding “tbc wherewithal'’ lor the l'cronst ruction of Kin ope. Very pnnsil iv, seeing tliat tin* recoinuiendai ion of an international loan emanates from llv Experts Committee, of which the Ariel iran delegate i.s president. the American Government bad considered in advance wluit was llm best niellmd o‘‘ rehabilitating tlv (list ms-ful Continent, and is fully prep.aicd lo act upon tlm committee's suggestion, oven il Washington did not go so Lu as to inspire it.