The Guardian And Evening Star, with which incorporated the West Coast Times. FRIDAY, JUNE 14, 1929.

Hokitika Guardian, 14 June 1929, Page 4

The Guardian And Evening Star, with which incorporated the West Coast Times. FRIDAY, JUNE 14, 1929.

THE REPARATIONS QUESTION. After protracted and strenuous discussions tile Reparations Conference at Paris lias apparently justified itself and reached a settlement with Germany. A few weeks ago it seemed almost inevitable that the negotiations wou.d break down, nor was the prospect of agreement rendered more favourable, says the “Otago Times” by -.10 appearance of the untenable proposals formulated by Mr Owen Young, which would have placated Germany by singling out Great Britain among the creditor Powers for a disproportionate reduction of the payments allotted to her. The experts have’stuck to their task, however, and achieved agreement upon the fundanlental problem of the total sum which Germany is to nay. The report of the conference. a voluminous document, has been signed by the delegates representat:ve of the different Powers, and will be submitted to the various Governments concerned. Tf it is adopted by them, Germany will have a specific financial burden to carry for a certain number of years and will know the full extent of her liability. The main feature of her undertaking will he to

pay for a period of thirty-seven years an average annuity of £102,500,000 as cuinpared with .i.u present standard annuity of £125,* 00,000 under tiie Dawes plan and the £82,500,000 which, .11 tne earlier stages of the confereme, was represented by the German Delegates to he the maximum which tlitir country could agree to pay. The details of the settlement have yet to -e clearly indicated. Apparently Germany’s lia-iility ior the cost of the allied army of occupation will cease before the end of the present year, and this is interpreted as meaning .hat the occupation of the Rhineland will come t.i an end at the same time. A few days ago Dr Stresemann virtually declared in the Reichstag that Germany would sign Lhe agreement only it the Allies consented to an immediate withdrawal of the army of occupation. According to the “Daily Telegraph’s” Pans Vorrespomlent, Great Britain’s share of the reparation payments will be somewhat iess than the strict proportii.n hitherto allotted, but there are compensating conditions. It would seem that the requirements of Great Britain are to be met i.i some way by the provision of a year to year cover for her own debt repayments and that they will vary accordingly. The particulars respecting 'an arrangement of that liind should be interesting. Mr Phillip Snowden, the new Chancellor of the Exchequer may, in view of tlie opinion which lie recently expressed concerning the Balfour Note, be expected to give c-onconti’ated attention to them. The claims of the dominions in respect of reparations are to be met in the only way possible, that is by the apportionment of a constant amount for their satisfaction. If Great’Britain and the Allied Powers generally have made some sacrifice to secure a settlement, there will none the less lie a general feeling of relief that a failure on the part of the conference has not thrown the whole question of reparations once more into the melting pot. If all the Governments concerned accept the recommendations of the experts’ report, and finality in the matter of a settlement of tiiis vexed question can bo definitely looked for, the effect cannot nut be beneficial all round. It should be conducive to European stabilisation and to an improvement, in various directions, of international relations. For so much at least it seems reasonable to hope.