AN ECONOMIST's VIEW

Hokitika Guardian, 14 August 1929, Page 5

AN ECONOMIST's VIEW

OF MR SNOWDEN’& OBJECTIONS

(United Prese Association—By Electric Telegraph—Copyright).

(Received this day at 9.25 a.m.) NEW YORK, Aug. 13. ' Addressing the Institute of Politics at Williamstown, Massachusetts, today,! Herbert Heaton (Economist of the University of Minnesota, and a native of England) declared Mr Snowden was justified in liis objections to the desertion of the Spa percentage, and distribution or unconditional German pay-

ments. ‘ \ In the demand for the abolition of the payment in kind, however, Mr Heaton believes that the British spokesman was “on less firm ground.” In making a demand for tire Spa 5 restoration, Mr Snowden merely wished to get money which would recoup England for sums already paid to America,'as thp sums still owing' were provided for in the Young report. He declared the Chancellor’s demand for a larger share of unconditional annuities was also justifiable as should Gerbe unable to pay her annuities in full in any year, sur.ely all creditors should suffer equally in that event. Tf on the other hand Germany was able to nay regularly and in full, France would have lost nothing by admitting i England’s right to a larger share of * junconditional payments.