REPARATIONS.

Taranaki Daily News, 20 December 1921, Page 5

REPARATIONS.

ALLIES TO CONFER. MEETING OF PREMIERS. A NEW PROPOSAL. By Telegraph.—Press Assn.—Copyright, Received Dec. 19, 5.5 p.m. London, Dec. 18. M. Briand (Premier of France) arrived in London to-night, and was received by Mr. Austen Chamberlain and Sir Robert Horne. M. Briand is accompanied by M. Loucher and a formidable array of financial and economic experts. It is stated that M. Loucher, who signed the Wiesbaden agreement, has devised a new scheme to deal with the Gerpian debt, which will be submitted to the Allies after discussion with Mr. Lloyd George. The Daily Express’ Paris correspondent says it is suggested that Mr. Lloyd George alleged that France grossly over-estimated the charges for the reconstruction of the devastated area, and M. Loucher admitted the charges were unduly high. Mr. Lloyd George and M. Briand will probably discuss the question of a European conference, including Germany and Russia. Another interesting proposal is the employment of 50,000 British in the French devastated area. VAST BALANCES ABROAD. A LEVY NEEDED. London, Dec. 17. A correspondent, in a letter to the Times, says that it should not cause surprise that Germany says she is finable to pay. It is well known that Germans have vast balances abroad, but the British Government, in October, 1920, voluntarily agreed that German post-war balances would be immune from seizure in the event of Germany’s voluntary liquidation. It is true the German Government forbade the export of capital, but traders defeated this by banking the proceeds of their sales abroad. The correspondent concludes: “Germany has been paying heavy subsidies to keep food prices and rail rates low, enabling the German workman and trader to undercut the British. Germany needs only a levy upon the foreign investments of the German millionaires who profited by these subsubsidies.

The Evening Standard understands that Germany offered 10 million sterling instead of 25 millions in January, and 10 to 12 in February, instead of 12% millions.