WAR DEBTS.

Hokitika Guardian, 14 January 1925, Page 2

WAR DEBTS.

LKeuteks 1 ±a,i-;onAMs.j SEC. HUGHES’ RESIGNATION. Paris, Jan. id. “Pertinax” writing in the “Echo do Paris” expressed the opinion tha". Air Hughes resigned because he was inclined to participate in European affairs, being in disagreement with President Coolidge and the Senate. The “Petit Journal” declares that Mr Kellogg (if ghes’ successor) has striven for years to achieve ail AngloAmerican policy, and Kellogg’s assumption of office will probably mean the consolidation and development of an Anglo-American Entente. “l.e Journal” interprets the resignation ol Air Hughes and the appointment. ol Kellogg a.s meaning the United States recognises in regard to the Dawes plan, that she cannot participate in European affairs, without entanglement therein. DETAILS OF THE NEAV PLAN. PARIS, January 13. An examination of the Allies’ Conference reprrations plan reveals that Belgium’s share will in 1920 fall from eight per cent to four and a half per ■cent. Then the ‘.United States will take two and a half per cent, and France and Britain each five-eights per cent. This means that tho Spit percentages will virtually disappear. T lie United States also receives £2,(100030 spent over seventeen years as repayment of the expenses of her Army of occupation, but America’s payments, like those of all the other Allies, depend on Germany’s fulfilment of the Dawes Plan responsibilities. Ii is estimated that, after the costs of occupation are met, there will remain in the first year thirty-six million sterling to he divisible among the Allies. AMERICA’S SHARE. PARIS, January 13. The Allied conversations took a. more definite form as the result of a meeting this afternoon, at which a full hind final Anglo-American agreement} was reached, slightly modifying tho previous accord. America will now receive fifty million gold marks annually on account of her army costs, plus two and a quarter per cent. of. the reparations, hut not exceeding forty-five millions of gold marks in any one year. America will also obtain immediate possession of fifteen million dollars deposited witli the Federal Reserve Bank, under the Wadsworth agreement.