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Hokitika Guardian, 16 June 1932, Page 4

Thb leaders of the Great Powers are now assembled at Lausanne for the much talked of conference, and a determined effort should be made to reach a common policy in Tegard to international) affairs. Previously the obstacle in the way of such an agreement has been the anxiety of British Governments, supported, probably, by British public opinion, for a cancellation of war debts and reparations. This attitude is based primarily on the belief that reparations and war debts are largely responsible for the breakdown of the gold standard and the deflation of world prices, but it is not entirely disinterested. Britain’s interest in Germany is an investor’s interest, and reparations payments are on insignificant factor in her national finances. France,, on the other hand, has lent sparingly to Germany and the security of her investments is a minor consideration beside her £55,000,000 share of the unconditional annuities payable under the Young Plan. Tn the last few months British public opinion has been more tolerant of the French point of view, and it is significant that Sir Arthur Salter, who was a member of the Reparations Commission, recently argfied that cancellation is neither practicable nor desirable. At the same time France has begun to realise,, that Germany cannot continue payments on the present scale. It is stated that bianco is willing to suspend payments for a period of years, provided ’that the principle of reparations is maintained. Jf such is the case, and if the new 'German Government supports the foreign policy of tlm previous Cabinet, then there should he an outcome that will at lc’sf f ive some relief to prerun t conditions.