REPARATIONS

Hokitika Guardian, 29 December 1931, Page 5

REPARATIONS

POSITION IN GERMANY. NEWSPAPERS EXPRESS DuUBT. [United Press Association—By Eleotrit Telegraph—Copyright- ] . LONDON, December 27. -All of the' newspapers point out that the report of the Advisory Committee at Lcsle under the Young Plan, ■merely .states what everybody knew, and the papers express the fear that r .the issue of the reparation will pass into the realm of political discussion at the conference that is to be held at The Hague, whii'e the world’s problem intensifies.

T'e “Daily Telegraph’s” diplomatic correspondent emphasises that the crucial point is as ito whether Germany can.be granted any further moratorium •wkhout the Powers knowing whether they can obtain a corresponding sus- •! pension of their debts to America. , “Consequently,” i(says the correspondent), “all eyes are now turned to Washington, awaiting a statement of President Hoower’s intentions. ANGLOPRENCH PREMIERS TO CONFER. PARIS, December 28. / It is reported that Mr Rltnisay MacDonald has invited M. Laval, Premier >'■ of France, to London to discuss the reparations policy prior to 'The Hague '* Conference on the matter. CHIEF CAUSES OF CRISIS. LONDON, December 28. The city editor of “The Times” Bays; The markets are resuming in a hope that the > trench and American ' politicians will not disregard the Basle Advisory Committee’s warning. There has been an instantaneous re- - sponse to President Hoover’s moratorium -offer ,-showed that the. public feels that the war debts payments and maldistribution of gold are the chief causes of the crisis. MR MACDONALD’S SUGGESTION. MANY VIEWPOINTS. ~ LONDON, December 28. The “Daily Telegraph” says Mr MacDonald personally wrote to ,M. Laval,. suggesting a meeting ■ for the discussion of ia common dine of policy for the reparations conference. 'When Sir Leith Ross, of the British 1 ' Treasury, wias recently in Paris, he proiposed' that a five years’ moratorium ' be granted to Germany and that France should abandon her claim for re-para-tions as an inducement to the United States to cancel the British and French deb s. France’s counter-proposals were a German moratorium for two years, adding that France, coijid. not-, spa,, her. way deal’ ta giv@ Up lief claim tcT repara, t{anili \ > r , Sir Leith floss and the French of- '! fleiale, however, agreed upon the urgent neoessiity of meeting the situation avis-\jj-Wne from the Congress refu/al to deal ■' with war indebtedness in Paris, The newspapers’ outstanding topic is how the Basie’-Committee will view the attitude of -Congress. They agree that ithe recommendation of the Basle, report, regarding the reduction of the debt, . can be dismissed as being invalidated by facts. Newspaper comments are thus concentrating on the assumption that the report virtually declares Germany bankrupt. “Le Temps” .agrees that a de- j finite collapse on the part of Germany may be serious, though it insists that I Germany alone is responsible.. It' adds that the cost of 'reparations is only 12J-. pef cent, of Germany’s total indebtedness, and describes Grmany’s financial methods as frankly dishonest, for, •by bankruptcy in 1923, she reduced the national debt to nothing, and then borrowed abroad on short term which were invested at long term. -.Thus being unable to repay her creditors now she has enriched -the Country, and merely declares herserf insolvent and. spits on its victims. * ,