HELP FOR EUROPE.

Taranaki Daily News, 3 January 1922, Page 5

HELP FOR EUROPE.

REVIVAL OF TRADE. DETAILS OF SCHEME. ALL NATIONS INCLUDED. By Telsgrapn.—Press Assn.—Copyrlgtt. Received Jan. 2, 7.5 pjn. London, Dec. 30. The Daily Telegraph Paris correspondent gives details of the basis of the scheme for discussion at the economic conference.

The scheme provides for the formation of a corporation to be registered in the Channel Islands and thus to be outside the- territories of the participating States. The capital will be £20,000,000 and stock will be issued to private individuals in France, Britain, the United States, Belgium, Germany and Holland. Half the amount allocated to Germany is to be subscribed by the German Government. The vote, of each national group will tie proportional to the amount subscribed. The corporation is to be authorised to carry out banking operations, but the main purpose is to re-establish economic activity in Central Europe by receiving payment in raw materials and goods. Received Jan. 2, 7.5 pjn. Paris, Jan. 31. M. Loucheur states the Anglo-French conference of financiers and business men met on Friday and adopted a scheme for the reconstruction of Europe by an international company with a capital of one milliard francs. The conference stipulated that guarantees, such as the recognition of the rights of ..private property, should be obtained from the Soviet Government. The scheme will be submitted to the Supreme Council at Cannes.

It is suggested, according to other statements, that France, England, Germany and the United States should furnish three-fourths of the initial capital, and Belgium, Italy, Japan, Czechoslovakia and Holland the remainder. A permanent committee of two Britishers and two Frenchmen will be appointed to make the final draft and thoroughly study the financial problem.