LONGER MORATORIUM

Rotorua Morning Post, Volume 1, Issue 98, 16 December 1931, Page 5

LONGER MORATORIUM

(Press. Assn.-

german reparations YIEWS OF YOUNG PLAN COMMITTEE EXPERTS DRASTIC REVISION FAVOURED

-By Telegraph — Copyright).

Rec. Dec. 15, 11 p.m. LONDON, Tuesday. The "Morning Post's" Basle correspondent says a majority of the experts of the Consultative Committee on the Young Plan are helieved to favour a further and longer moratorium in respect of all reparations, after which the German position should again be examined. The "Daily Telegraph's" speciai correspondent says that the committee has not yet discussed any question of •Germany's ahility to pay reparations. The Statistical Committee, to which the matter was referred, has not yet found time to draft its report. There is a growing conviction among experts, however, that only a drastic revision can avert a world economic catastrophe. The committee considered 3the economic and financial situation of Germany in 'her relations to other countries. A statement regarding the repereussions of reparations payments causing an intensification of Germany's exports was submitted hy Monsieur Colijn. Mr. Stewart (United States) observed that the present crisis was as abnormal as the period of prosperity which had preceeded it, and said it would be wrong to be too pessimistic because after passing the extreme of prosperity and depression a normal point would be reached. The committee last week completed the -first stage of its work by the collection of material making a general picture of Germany's economic situation. It examined in succession her position as debtor and creditor regarding the long and short term investments, and inquired into her balance of trade, capital, moment's budgetary position, the situation of these matters on that economic life of Germany.