REPARATIONS

Nelson Evening Mail, Volume LXIII, 29 July 1929, Page 5

REPARATIONS

BRITAIN’S LIMIT OF CONCESSIONS STATEMENT BY CHANCELLOR OF EXCHEQUER (British Official Wireless) RUGBY, 20th July. Mr Lloyd George, Liberal Leader, called attention in the House of Commons to the Young report oil reparations, and said he was amazed that it should ever have been presented to the British Treasury as a fair settlement of the claims of Great Britain. Mr Snowden, Chancellor of the Exchequer, in reply, said, the Government were not in any way committed to acceptance of the Young report. He realised the difficult task he would have in approaching the conference and could only say that he would do his best to obtain justice for this country, and whatever the result of the conference might be lie assured the House that there would he no further sacrifice of British interests. There was no desire to increase the amount of annuities which Germany would he called upon to pay. That was one point in the report on which lie thought there would be very general agreement. There was, however, already a difference of about two hundred millions between what we had paid to America and what we had received from Continental debtors. Under the scheme we should have to abandon all hope of ever getting anything towards that two hundred million arrears. With regard to the question of deliveries in kind, the Government realised the seriousness of the question for an exporting country like our own. Anything, that the Government could do to ease the situation would certainly be done. The proposal constituted a new demand for further sacrifices from this country, and fiom the viewpoint of our national finances our position was sufficiently serious, therefore we should , maintain such rights as we had. “I think I am expressing tlie view of the Government, said Mr Snowden, “when I say tlie limit of concessions hv this country lias been reached. Our sacrifices have been magnanimous, generous, and quixotic. They have imposed a burden of sixty millions a year upon, our own people which will remain even if we were to get our payments from Germany ancl our Continental debtors.”