ALLIED CONFERENCE.

Hokitika Guardian, 5 August 1924, Page 3

ALLIED CONFERENCE.

ST AT KM K.NT HV .MR MACDON'A LI). [Rkutf.hs Tki.kuramk.T (Received this tiny :it ILL-A a.in.) |.( IN DON. Aug. 4. In tile C'nli'inon-, when outlinin'.: tile decisions of the Allied Conlereiiee Mr MucDoiiiild said tlint various safeguards hud lieeu taken to secure all parties si 14:1 ilist decisions which could ho regarded as partial or unjust. All the Allied Governments hoped the etl'ect of the agreement would create a new spirit of co-operation on hotli sides so that some points that might well have heeli lelt open, owing t 1 the impossibility ot being settled in the present state ol the public mind, might secure negotiation hy a chance of that mind. They hoped to ..confer with the (lennan representative tomorrow. It was proposed, at present, to execute three agreements: Firstly—-Ilet ween Germany and the Reparations Commission as regards matters within the latter’s competence. Secomllv Between the Allies and Germany concerning nmtters requiring a <lirent agreement. Thirdly—Retween the Allies regulatin': matters of inter-Allied concern. Mr MacDonald concluded hy paying a tribute to the spirit of loyal accommodation of the Allied premiers and other delegates.

CONFERENCE AGRFEME NT. (Roeoived this day at 11*25 a.in.) ■LONDON. August IMr MacDonald stated the Conference lmd agreed to elaborate a series of stipulations, with a view to restoring me fiscal and economic unity of v.ennany, including the restoration ol full powers of German administration regarding customs and railways to operate fully not later than loth. October; also a reciprocal amnesty for acts done hy individuals in consequence of events since 11th January, 102.1. Disputed interpretations of the Experts report and the eouforemes agreement would he referred to a committee of Jurists. The Governments had agreed that in the event of taking sanctions they must act as tiustees for all the interests created by the Experts report, and especially tliey must not damage H"' security of the loan. Questioned regarding the action Governments might take with reference to sanctums in the e\cut ot a declaration of default. Mr MacDonald said matters remained as they were left by the Treaty of Versailles, namely, when Governments failed to agree it was possible for them to pursue their own policy. It was obviously most unsatisfactory, lint the whole situation would he eased ii they could get the state of unanimity necessary before default was declared. Members might rest assured that the question of sanctions was unlikely to arise in a hurry. The loan wotdd not he lh ■ ed under the auspices of the Government, and hankers must, consult German representatives with regard to security, before they definitely sa\ whether they will float it.

Replying to Mr Lloyd George. Mr .MacDonald emphatically adhered to the view of the late Government, that France's separate act ion was not sanctioned hy the ’I rely ot \ ersailles. Ik declared the Spa agreement with reference to various Allies proportions of reparations and deliveries had not been disturbed.

A GERMAN VIEW. (Received this day at 12.10 p.tn.) LONDON. August 4. The ‘-Morning Post’s" Berlin correspondent interviewed Doctor. Harman (Minister of E‘.oiiomic Affairs) .regarding the possibility of the Dawes plan of"disloeating tile World trade. Harman said whoever wants reparations must not complain about German exports, but. it is an over-statement to say that Germany is going to flood the world with manufactured goods. The industrial crisis in Germany is growing seriously. Every day the ti<h of unemployment is rising. Ihe trade unions report half their members an on snort time though the German industrial apparatus was intact after the war, we have lost touch with world markets. The shortage of money has swallowed lip -the working capital and prevented the modernisation of plants and aliove nil the purchasing capacity of home buyers has been annihilated. -i ue Dawes report therefore is accurate in saving that German industry must have long term erediis to prevent a collapse. Until Germany has r strong buying public at home, its capacity to export must he weak, and it, will he long before German industry will he a menace to those countries whose capital and resources have not been undermined.