REPARATIONS PROBLEM

Hokitika Guardian, 24 August 1931, Page 5

REPARATIONS PROBLEM

REPORT OF COMMITTEE OF BANKERS. (British Official Wireless.) RUGBY, August 20. Commenting on the report issued at Basle by the bankers’ committee appointed by the London Conference to examine the credit needs of Germany, “The Times’’ congratulates the bankers on producing a very important document, which deserves the most careful study of the various governments concerned. ' “'Jhe whole essence of their conclusions,” it says, “is to show, with unmistakable clearness, that no solution of Germany’s financial difficulties is possible unless the fundamental problem of reparations is settled on a realistic basis. That such very plain speaking should have been endorsed by tfie French representative on the committee is very satisfactory.” AVOIDING CHAOS. After referring to the terms of the report, and emphasising the urgent need for immediate action on the part of' the Governments to restore confidence, “The Times” says; “Though the exact interpretation to be given te this passage - in the report by the various signatories and their Governmens will' no doubt vary, there should be no great difficulty in arriving at the essence of their meaning. They are a warning to the world that the problem of reparations must be reconsidered, and that quickly, if further chaos is to be avoided. breathing space. “Amid the confusion of the present crisis it is clearly impossible to determine how far the German balance of payments will permit a resumption of her reparation obligations, but it is vitally important that sufficient breathing space be provided to reconsider the whole problem under its new aspects. The ensuing months of the Hoover year seem scarcely' sufficient to do this satisfactorily, but if it is found practicable to prolong the moratorium on political debts' it might then be feasible and politically acceptable.”