REPARATIONS.

Hokitika Guardian, 11 April 1925, Page 4

REPARATIONS.

NE\Y ZEALAND’S SHARI

Advice of Now Zealand's share of Germany’s first payment ot reparations under the Dawes plan intimates that the sum of £5-1,000 has been placed to the Dominion’s c-redit in London (sues the “New Zealand Herald” editorially). Australia receives £135.000 and Canada a like amount. These payments approximate to the proportions arranged under the distribution agreed upon by the British Prime Ministers at the Peace Cabinet of 19*21. AVith this distribution the Reparations Commission is not concerned, its work under the Versailles Treaty being limited to the determination of the aggregate reparations Germany shall pay. The Spa Conference of the Allies in 1920 apportioned tlie shares to be allotted to the various Powers concern-

cd, Britain’s share being 22 per cciit. A slight modification was made by interAJlied agreement in January of last year, in order to secure Belgium’s interests; but tire change did not materially affect Britain. The apportionment of Britain’s share, as made by' the Peace Cabinet, allotted the following percentages:— United Kingdom 86.80 Canada 4.35 Australia 4.35 New Zealand 1.75 India 1.20 South Africa GO Newfoundland 10 Minor Colonies 80 Should Germany carry out her undertaking. there wiil he paid to the Dominion future annual amounts larger than the sum now received. In round figures, they will lie £66.000, .£‘05,000. £9S,'XD and £135,000 respectively in the next four years. These amounts vary in proportion to the Dawes plan’s stipulations of a changing aggregate payment according to anticipated economic conditions in Germany. “By . the end of the fiscal year 1928-20.” the ; Dawes report stated, “the experts assume that the financial and economic situation of Germany will have ret.urnied to normal,” and a ‘‘standard 1 charge” is conserjiteiill.r fixed for the I remainder of the period of thirty years j within which reparations were at firs: ! directed to be paid. However, as an | “index of prosperity” is to he emI ployed in calculating these later payj meats, they are certain to have lull ! review. That future is so remote and ! uncertain that it must he left very ; largely to take care of itself. Suffice it now to welcome Germany’s first payment under the current agreement.

Schroder and Co. have opened out a splendid range of new knitted costumes and sports coats; silk, velvet and marocain frocks. Inspection cordially invited.—Advt.