The Guardian And Evening Star, with which is incorporated the West Coast Times. TUESDAY, MARCH 18, 1930. THE YOUNG PLAN.

Hokitika Guardian, 18 March 1930, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times. TUESDAY, MARCH 18, 1930. THE YOUNG PLAN.

The Allies signed the Young Plan in January last, and Germany through its President, signed up last week, thus completing the ratification. The Plan governs the German reparation payments to the Allies, and it was with some reluctance the late enemy country agreed to accept the revised agreement following the Dawes Plan. The Dawes Plan laid the basis for the reconstruction of Europe, following the devastation and destruction of the Great War, when international bankruptcy, loomed ahead. It .recognised, as an American authority has put it, the fundamental truth that the peoples of Europe must continue to live as neighbours, and that they must live in peace and prosper together in

order that any of them may prosper. All of Europe has made great progress since the Dawes Plan was inaugurated, and other countries have prospered as well. The Young Plan is another and more- definite guarantee of the peace of Europe, and it is expected to mark the beginning of a new era of world intercourse and friendly co-operation in the advancement of common interests. The principal feature of the Young Plan in its direct application to the late nations lately at war, is that the agreement mutually reached, represents a compromise of war and reparation claims, as where the figures are so- huge, all such agreements must. There is a strong body of public opinion in Germany, holding that the obligations assumed are unduly oppressive-, and greater than can be discharged. On the other hand, public opinion among the Allies is to the effect that the obligations are not heavier than the debts in which those countries are involved on account of the war. Taking th'ut view, Germany must lie considered to lie well treated. The negotiating representatives on both sides have had the task of securing an agreement which promises now to work out very well. The agreement reached by mutual negotiations involved substantial concessions from the Dawes Plan. It liars to be realised all round that the war was not a. source of gain to the victors, but was a. terrible calamity for every country brought into it. This appears to have tjpen recognised by the negotiators, with the result that the Young Plan was -designed and accepted with a- sincere desire to liquidate the past, and place it behind them altogether. The Young Plan may not settle the reparations for all time. It is impossible to say that the settlement never will be reopened. There is, however, the belief and understanding that it will not lie reopened unless there is convincing evidence that the terms are impracticable, and that changes are desirable to serve the interests, of all concerned. An American authority has commented, in respect to the Young Plan that '‘one tiling is certain, the sum total of all the payments that are spread over fifty-nine years would not be worth to either side, the cost of one year of war!” A sweeping statement such as that indicates the moderation of the claims embodied in the Young Plan on behalf of the creditor countries, and the equitable consideration given to Germany as to the ability of the nation to meet the reparation payments. If it were- possible for the disarmament conference now sitting at London to reach a practical agreement, and so meet the expenditure of vast sums of money in rival navies, there would be a suitable coping stone to the peace of Europe Unfortunately the trend of the conversations among •the Five Powers is not promising. The reader of the daily messages in the cables, will see how the pendulum is swinging, and tends rather from complete agreement. It seems remarkable that these nations, sometimes close allies in the late war, have not more faith in each other in times of peace. Were there more confidence one to the other, an agreement should be reached in double quick time. For the present apparently the Young Plan has to serve as the best that can be done, and apparently a naval agreement will not be reached till the subject is removed from the- political arena where the actors look so much for personal kudos