REPARATIONS

Hokitika Guardian, 22 July 1929, Page 5

REPARATIONS

FRANCE GAINS A POINT

(United Press Association—By Electric Telegraph—Copyright). PARIS, July 20. Mr Turrell has informed M. Briand that England will agree to the holding of the Reparations Conference in a neutral country. REPARATI ON PAYMENTS. AN EXPERT’S VIEWS. (Received .this day at 8 a.m.) LONDON, July 20. Parker Gilbert’s interim report on reparations for the first nine months of the fifth annuity year ending 31st May, is distinctly optimistic in tone regarding Germany’s present position and future economic financial development. Germany has made, as previously punctual payments without interfering with 'the stability of German currency. Gilbert, however, again warns Germany to keep down expenditure and pay from existing revenue. There has been great productivity of revenues but a constantly increasing level of expenditure going even beyond the rising revenues and necessitating extensive borrowings, and the creating of much tension in Germany’s finances. Gilbert considers the Young plan Provides an opportunity for the°development of a sound financial programme, not merely because of reduction in annuities but because finality removes the uncertainty to the extent of Germany’s reparations obligations. Gilbert is convinced that budgetary difficulties have thrown no doubt on the essential soundness of the Reich finances. Germany’s exports continue to rise, while imports continue to remain Inflow the high level of last year. 1

FRENCH R A TIFICATION. , M. POINCARE’S HEALTH. PARTS, July 20. The Chamber voted in favour of a ratification of the London-Washington debt agreements by 300 to 292. M. Poincare has been unwell since his great speech-making efforts. He visited President Doumergue and it is rumoured he signified his intention of resigning inuneoliately after the ratification. PARIS, July 21. • The ratification of the agreement by only eight votes, 300 to 292, ended a long debate wherein the issue was uncertain until the last moment. The Chamber ratified the London agreement practically unanimously by a show of hands. Earlier in the evening AT. Briand made it clear that the Government would resign if defeated. The Chamber adopted a separate motion declaring the burdens imposed on France must be covered by payments from Germany.