FINAL PAYMENT

Hokitika Guardian, 5 July 1932, Page 5

FINAL PAYMENT

OF £2OO MILLIONS i, \ "\ GERMANY CONSIDERS PROPOSALS '■M'. V. (United Press Association—By Electric Telegraph— Copyright.) LAUSANNE, July 4. There were intensive negotiations during th© week-end, which have failed \ lip yield a settlement. '{ Germany is now considering two'hun- ' ) dred millions ae a final sum of payment to b& made, by means of Government bonds, of which the redemption would Jb e spread over a number ot years, but which only begins when Germany's economic position permits. S'he would then pay £22,500,000 per annum until the amount had been cleared. Pending the redemption of the bonds, Germany would be asked 'to' deposit industrial and railway bonds, bearing, interest, in the Bank of ’ inlS'.fi't'Oiul Settlements, the. value of 'these be.ng 210 millions sterling.

The French experts are • now considering Germany’s counter proposals, which include a : moratorium for’ three y-U’S. ■

MORE, HOPEFUL ATMOSPHERE,

. FOR ECONOMIC RECONSTRUCTION.

RUGBY, July 2.

A more hopeful aJimoaphere is reported from Lausanne, and, apparently, a very strong desire for t sofi'ement has xe-asserted itself >n all juuiters.

Tha newspapers state •’hit a full meeting of the German Cabinet wid i ake place at Freiberg, near Basle (Switzerland) to-morrow, and it is assumed that 'Chancellor Von l’ape.ji .w s !i examine, with his colleagues, a pan that is being .evolved in discussions, which are proceeding both inside and outside the Conference Bureau, for an eventual bond issue • for “Economic Reconstruction.”

Although the Bureau discussions on the bond issue scheme have been i'.indue,;ed between principal creditor l'o.vers, there have also been talas outside of the Conference, room in wh.eh the. German- delegates have paitmipated, and their views upon various points, under, examination have, it is safe to issue, been known and taken into full consideration. ■

All ■ of \;h©' members ©L the British delegations have ‘ participated very actively in' efforts to pull round the Conference into the way of a success.

FRENCH ‘ECONOMIC DEADLOCK PARIS, July 5.

The French* •-Governfiient’s economies to .save £81,d00;tX)0 have caused a dead. Jock, The Radical Socialist supporters o-f M, ’Harriot joined the- Socialists in •rejecting economies, totalling nin 6 mil. lions sterling. M. Palmade, the Budget Minister,, deit is impossible to accept the rejection. - . . The Chamber’s. Finance Commission is now attempting to provide a compromise.