The Guardian And Evening Star, with which is incorporated the West Coast Times.) WEDNESDAY, JULY 2nd, 1924. REPARATIONS AND AFTER.

Hokitika Guardian, 2 July 1924, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times.) WEDNESDAY, JULY 2nd, 1924. REPARATIONS AND AFTER.

Sinck thi' signing of peace there lias Immmi a straining alter the settlcMiient of the reparations. Tlio matter has dragged on for so loan now that it has come to lie icalised that the settlement of the reparations will carry in its train a fresh set of complications for the statesmen of the day to gi apple with. There have been many .statesmen handling the reparations, but it is only now that there is some suggestion of finality. The recent meeting of the British and French Premiers give hope in that direction. M. Poincare "as for ever demanding Ids pound of flesh, to secure which meant the bleeding to death of Europe. It was so hopeless, not to say impossible, a task that the drifting which lios gone on, has created difficulties ahead no less serious' than the collection of the reparations. But liettor counsels are prevailing, and the Allies are coming more into a single line of thought, while some necessary consideration is being given to Germany, the nbilitv of which to pay on the original scale demanded is still an unsettled matter o? There is no doubt that a

reparations settlement will accentuate the economic problems by which Umpire countries, particularly Great Britain, are already confronted. Such a settlement, if may lie Imped, will lighten the burden with which Britain is saddled in payug her war debt to America. On the other hand, the res. im at inn of German credit is bound to mean intensified German competition with Britain, not only in foreign markets, hut in the British market. The latest review of British trade shows how heavily British inaniifiuttilers are still handicapped by high taxation and in other ways in coping with foreign eompetiton. These troubles certanl.v will not be lightened when Gettmany again becomes an active competitor in world markets. It lias been emphasised, also that there is a danger of British capital being made available for German reconstruction, and that sterling credits are as much at llm service of foreigners as of British manufacturers. The remedy for these conditions and all that they are likely to entail clearly should he sought in an - enterprising policy of inter-im-perial development-. According to the liondon “Times," opposition is silently and surely lising against, the Umpire policy of the present British Government. and in favour of accepting the Conservative policy of strengthening and developing Empire ties. At present there is a somewhat obvious possibility that troubles arising out of the reparations .settlement may overtake Britain before this movement has lime lo gather head and become effective. So new problems are likely to confront the nations :ilmost at every turn. Tie* woild is going to take a goodly while to settle down after the unsotllomcnt of the war. So much wealth went for nought during that period, and the remaking of wealth nowadays is so slow and long drawn out. that a very extended time "ill K‘ required lo recuperate. Still Britain has her obligations to ilvuropi* as to hcrsell and the settlement, of the reparations is a necessary stepping stone to the final adjustment, even should temporary complications result.