GERMAN REPARATION

Sun (Auckland), Volume III, Issue 666, 18 May 1929, Page 9

GERMAN REPARATION

DR. SCHACT OFFERS NEW PAYMENT OPPOSITION FORESEEN LONDON. Krida> Times Cable The Paris correspondent of “Tli Times'’ says the delegates of the creriitor Powers at the experts* conference on German reparation considered the draft report prepared by Sir Josiah Stamp (Britain) and Dr. Hjalmar Schacht (Germany). With it they considered Dr. Schacht’s appended letter, acceptinu the proposed annuity of 2.050.000.00 • marks (about. £102,500,000) for 57 years, plus payments covering th*' inter-Allied debts for a further 21 years. Dr. Schacht has al&o. it is undei • stood, offered an unconditional pa> ment of 500,000,000 marks (about £25,000.000) a year plus the service of the Dawes loan, the costs of the United States Army and the United States reparation, which would enable the creditors to commercialise the capital for the equivalent of an annuity of 500.000.000 marks, or otherwise £400.000,000. The lowness of the French share of this offer presages a deadlock. The French delegates are reported to be in favour of returning to the Spa per centages. and to be ready to agree to the distribution of the new annuity in accordance with the Spa arrange ments, but the main opposition will probably- come from Belgium and Italy.