ANGLO-FRENCH NOTE

Hokitika Guardian, 11 July 1924, Page 3

ANGLO-FRENCH NOTE

DKTAIJ.KI) PARTIC.TTI.AKK

[Reuters Telegrams.] (Received this day at 10.2 d a.in.) LONDON, July 10.

The text of the Anglo-French Note is a long document, especially the preamble, which details the terms of reference of the Dawes Committee and states the two Governments recognise tlio importance of the economic and financial viewpoints, particularly the necessity to create it condition of confidence which, however, they do not consider incompatible with respect for the Peace 'Treaty. The Note declares too arrangement which shall he agreed upon does not prejudice the authority of tho Reparations Commission, hut in view of the fact that a guarantee must he given to investors furnishing eight hundred million gold marks and to the bond hearers, the two Governments will unite ill efforts to obtain the presence of an American on the Reparation Commission in the event of the latter having to establish default on the part of Germany. II this solution is impossible, and in the event of the Reparations Commission failing to reach an agreement, the two Governments recommend that the Commission should call in'the agent general of payments, who must he of American nationality.

The Note proceeds—ln the evc'nt ol llm Reparations Commission declaring tin important, wilful default, the Governments concerned undertake to confer immediately on the necessity of measures. The Inter-Allied Conference will decide the plans to re-establish an economic, fiscal unity in Germany in connection with which the Reparations Commission will he asked to subnii! suggestions. Any necessary modification of the experts plan will only he introduced with the necessary guarantees, and by the common agreement of i.ic Governments concerned a special organisation shall he created to advise the ■Governments on the question of the system of distributing reparations payments. It will he expedient to settle what authority, if the necessity arises, should he entrusted to the commission in the interpretation og the Dawes report: The Governments agree t„ refer unv judicial difficulties in the present text to their legal advisers. Tho British Government will seek an equitable solution of the Inter-Allied debts problem, taking into account all the elements affecting it, and the question is therefore referred to the Treasury experts for a prelmuttary examination. As regards the question of security, the two Governmen s aoree to seek the best means ot obtaining a complete ratification, et her through the League of Nations .or other channels anti to continue the examination of the problem until a solution is finally achieved.