FRANCE ACTS.

Taranaki Daily News, 4 May 1921, Page 5

FRANCE ACTS.

ADVANCE IN THE RUHR. FREXCH TROOPS MOVE. A DIVISION OF CAVALRY. By Telegraph-—Press AsSta.—Copynfii*. Received May 3, 11.55 p.m. London, May 3. French troops have started for the Ruhr. I They comprise a division of cavalry, 1 commanded by General Simon. They i left Mayence last night in fifteen trains. —Reuter Service. < —rFEELING IN GERMANY. STILL LOOKING TO AMERICA. CONTROL OF FINANCE UNWELCOME. Received May 4, 12.10 a.m. London, May 3. Despite Herr von Simons’ proffered resignation, Berlin opinion does not anticipate an immediate change in the Ministry. It is generally admitted in responsible circles that there is no better solution for Germany than the Paris decisions. but foreign control of the national finances is bitterly unwelcome to all Germans, who feel much depends upon President Harding’s reply to Germany’s appeal. The Germans are still clinging to the hope that the treaty does not provide for the occupation of the Ruhr, whether defaults are proved pr not. —Reuter Service. REJECTION OF GERMAN OFFER. AMERICA ADVISES NEW PROPOSALS. Received May 3, 8 p.m. Washington, May 2. The State Department announces that it has informed Germany that its reparations offer is not acceptable, and the United States cannot communicate it to the Allies. Germany is urged to make new, definite and adequate proposals directly to the Allies.—Aus. and N.Z. Cable FINAL TERMS. GERMANY’S TIME LIMIT. London, May 2. The Australian Press Association learns that «he Allies have agreed regarding the final terms. It is understood Germany has been granted 12 days in w»hich to accept. PAYMENT SCHEME. GERMANY TO ISSUE BONDS. London, May 2. Germany is required to issue 6600 million 5 per cent, bonds to pay annuities of 100 millions, plus a 25 per cent, export tax to cover interest on the first issue. The remainder of the bonds will be issued according to her ability to meet the interest. FURTHER DETAILS. QUESTION OF SINKING FUND. London, May 2. The Supreme Council sat until late in the evening without completing the details of the proposals to Germany. Substantial agreement was arrived at on the principle, but chere was a lengthy discussion on the formula for presentation to Germany. Naval experts have been summoned to meet the Council to-morrow. The Australian Press Association learns .hat Germany ia required to acknowledge the Reparation Commission’s bill by the issue of 6600 millions’ worth of bonds at 5 per cent., those bonds to be issued over varying periods. Germany is required to pay 100 millions annually, plus 25 per cent, on her exports. The first issue of bonds is to be made immediately, the second issue in November. Presumably the number issued will be such that the annuity and exports will meet the interest charge, and when the annuity and tax exceed the interest required then fur■jther bonds must be issued. The Reparation Commission may require the issue of bonds from time to time in accordance with Germany’s ability to pay interest. Assuming the exports tax yields 50 millions annually, Germany must issue bonds to the value of 3000 millions in order to guarantee the payment of interest. Certain German revenues, *uch as customs, must be appropriated towards the payment of annuities.

The point still to be arranged is the sinking fund for the liquidation of the bonds. Meanwhile the necessary military measures will be initiated in the event of Germany’s refusal of the terms. INDUSTRIAL MAGNATES ALARMED. . London, May 2. The Daily Chronicle’s Berlin correspondent states that pressure is being Jiroi’ght to bear on the Government to modify their attitude regarding reparations. The industrial magnates are at laat thoroughly alarmed. They now realise that the Entente mean* what it esys, and they fear to find their businesses practically under foreign control. I have reason to believe that the Government will not resist the magnates’ influence, but will give way to the Allies’ ultimatum.

Newspapers warn the public against putting faith in the idea that the Allies are disunited.