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Hokitika Guardian, 27 August 1931, Page 4

The Hoover Moratorium proposals have already produced many important effects, but none more so than the suggestion made by an international Committee of financial experts for the revision of reparation payments. In Germany the bare hint that such a course is possible has naturally been received with acclamations of delight. In America comment so far is strictly guarded. In Britain, on the contrary, the critisism offered by the “Times” seems to bring this solution of the financial difficulties of Germany and Europe well within the range of practical politics. The “Times” considers that the report of the Bankers’ Committee shows “with unmistakable clearness'' that the financial position in Germany cainiot be stabilised “unless the fundamental problem of reparation payments is settled on a realistic basis, 11 and it emphasises the Committee’s warning that' “if further chaos is to be avoided” the whole policy of reparations must be considered and revised. Of course, the chief obstacle to the “renU istic” ’ treatment of the question lies in the political and the sentimental objections that will naturally be raised bv France. But the “Times” rightly lays stress on the fact that the report has been endorsed by the French representative on the Committee, so that these objections mav quite conceivably be waived. All this is very significant. and the suggestion that “the Hoover year” will pro* r e too short a period to settle all -this, indicates a possibility that, even if reparations r>'o maintained, the Moratorium may b° prolonged, with beneficial results to the whole world.