REPARATIONS CUT

Hokitika Guardian, 22 August 1931, Page 5

REPARATIONS CUT

“THE TIMES’S’’ yiEW. (By Telegraph—Per Press Association) RUGBY, August 20. Commenting on the report issued at Basle, by the Bankers Expert Committee, that was appointed by 'the London Seven Power Conference to examine the credit needs of Germany, “The Times’’ congratulates the bankers on producing, what it terms, “a very important document, which deserves the most careful study of the various Governments concerned.”

It adds: “The whole essence of their conclusions is to show, with unmistakable clearness, that no solution of Germany’s financial difficulties is possible unless the fundamental problem of the Reparations is settled on a ;xealistic basis. That such very plain speaking should have been endorsed by the French representative on the Bankers' Basle Committee, is very satisfactory.” After referring to the terms of the report, emphasising the urgent need of immediate action on the part of the various Governments to restore confidence, “The Times,” says: “Though the exact interpretation to be given this passage in the report by the various signatories and their Governments will no doubt, vary, there should be no great difficulty in arriving at the essence of their meaning. They give a, earning to the world that the problem , of the Reparations must be reconsid- j erec r anT that quickly, if further chaos L to be avoided. Amid the confusion of uie.’ present crisis it is clearly impossible to determine how f * r S balance payments will permit Rex resumption of the reparation but it is? vitally important that suffldent br.rt.Mng will b. prov.d.d to reconsider the whole problem under 1 ' .p+s during the ensuing its new aspects during v - months. The hoover Year h been scarcely sufficient to do this satisfactorily, but, if. it is found practicable to prolong the moratorium on the political debts, it might then be po - jbl ,P to arrive, eventually, at a sett ement Which would be economically Lsibla and politically.