REPARATIONS

Hokitika Guardian, 21 January 1932, Page 5

REPARATIONS

NO MORE PAYMENTS. EXPECTED FROM GERMANY. (United Press Association.—By Electric Telegraph.—Copyright.) NEW YORK, January 19. A summary of the American newspapers’ opinion of the present state of the reparationai and war debt situation seems to he expressed by a leading article in Springfield (Massachusetts) “Daily News,” as follows: “It is increasingly apparent that Germany intends td ; repudiate her debts. This situation align:s ill for the American taxpayers, who haver no alternative hut to g. in and hear it.” The New York “World Telegram,” says: “Polities have been the curse of the ksue from the beginning and are. now making a bad matter worse. The Lausanne Conference will probably patch up a temporary compromise agreement, and then run away from the problem until it catches up with them again in a worse form, and America will not be re-pi esented. America should enter the conference with a- definite programme, recognising that the reparations debts will never be paid.” The New York “Post” says: “Whatever is done at the Lausanne Conference must be done quickly. The combination "of long conference and the political unrest attendant on the approaching elections in the United States, France and Germany, would be highly dangerous.” A WORD TO THE ALLIES. NO LENIENCY FOR DEBTORS. NEW YORK, January 19. In the comment on the reparations, die Hartford (Connectit-ut) -“Times” tate: “Congress is likely to he lenimt with those debtors who expect to lay, and it is likely to show no such Imposition towards those debtors who iroclaim that they hope eventually to avoid payment. A further moratorium, granted on the condition that it shall not hinge upon the payment of the German reparations, should cause the debtors to cease their talk of cancellation as a moral right.” The Boston “Traveller” snys: “The news, telling of the importance of Hitler, seem® to be overdrawn. We suspect that Berlin parades him to worry Germany’s creditors into concessions that hardly are due- to the loser in a self started war that nearly wrecked civilisation.” |

CAN GERMANY PAY LATER. NEW YORK, January 19. The “New York Times” says: “The high variability of the German capacity to pay partly, explains the Erenc-h reluctance to ah jo urn sine die. Today they argue, Germany cannot pay, but there is no telling about two years from now,”

FRANCE’S GOLD.

MORE FROM U.6.A

NEW YORK, January 19

J The Bank of France has arranged to repatriate one hundred and twentyfive million dollars worth of gold, that now is held under earmark. The New York bankers, however, have asserted that the transfer would not involve any increase in the gold holdings of the French Central Bank, nor any decrease in the monetary stocks of gold of the United States, which a week ago totalled 4,457 million dollars, aside from which there is approximately 400 millions worth of gold earmarked for foreign accounts, particularly for Belgium. WAITING GAME. " AMERICA’S ATTITUDE. WASHIXGTON, Jannn ry 19. With the announcement of the substitution of Mr Stimson (U.S. Secretary) for General Dawes to lead the American delegation at the Geneva Diiaratmainent Conference, there has been on the eve of the delegation's departure a semj-officifi] outline of the American attitude towards the reparations, especially a-s related to disarmntent, given to the press. America’s reply to the European overtures seeking advice on the war debts will he that Europe must work out its own plan. America’s part at Geneva will he a silent though influential one. If is remarked: “Since she believes that the questions there are primarily European ones, the United States will take no pari in the Lausanne Conference, but .will caieliillv consider ativ concrete plan I,bat is proposed for the further postponing of war debt payment or any other concrete arrangements to meet the present emergency. Il is intimated tlml U.S.A. Ambassador Edge at Paris has informed Premier Laval, in reply to “feelers' I bat, t 'u? I'nPed States wield consider each nation's debt on its merits, and that the 1 ~ited Stales floes iiol: believe licit the debt problem is immediato’v pressing because llieie is no payment due until December 15. RESTORATION OF INTERNAL CREDIT. ,WASHINGTON. January 10. Air Hoover lias selected the retiring A mbas.-mdor. General Dawes, as bead of Idle new two thme-and million dollar Reconstruction Corporation. Seoretnrv Stimson will rerJaer him as head of the United .Statics

delegation at the Geneva Disarmament Conference. General Dawes stated later, that hi R resignation as Ambassador at London became effective immediately, in view of his new appointment. He had intended to resign in the -spring. FRENCH DELEGATE, this day at 9/25 a.m) PARIS, January 20. It is authoratively stated to he impossible for the Reparations Conference to begin on 25 January owing to the necessity of M. Laval awaiting a vote of confidence on Thursday, before deciding who will participate. OTTAWA CONFERENCE. LONDON, January 20. Tt is believed that Air Thomas will shortly announce the Ottawa Conference will he held in the middle of July, but the personnel of the British delegation is undecided. It is likely, however, to be Messrs Runeiman, and Thomas, and perhaps Malcolm MacDonald will attend. FRENCH DECISION. PARIS. January gft. The Senate's Finance Committee rejected the plan cabled on 211 li December for Loans to Compngnie Generate Transit! lantique.