REPARATIONS.

Taranaki Daily News, 29 August 1922, Page 5

REPARATIONS.

EFFORTS BY GERMANY, TO MEET FRENCH VIEWS. NEW PROPOSALS. By Telegraph.—Press Assn.—Copyright. Paris, August 26. Sir John Bradbury and M. Mauclere returned with fresh proposals, under which the German Government guarantees the supply of timber and coal to France and Belgium if a moratorium is granted. The proposals were backed by leading industrialists undertaking deliveries. and the miners agreeing to work an extra six hours a week to increase the output. Sir John Bradbury, interviewed, said: “I am satisfied that the German Government is making great efforts to meet the views of the French Government as far as the actual situation of Germany will permit. I am strongiy of opinion that the French Government is doing its best to meet the German Government half way.” Berlin. August 26. The Press claims that Germany has done its best to arrive at an understanding. She requires a long breathing space in order to overcome the present crisis. London, August 27. Tn response to the trades unions* appeal. representatives of British Labor and French and Dutch Socialists have arrived to confer with the German Labor leaders.

COLLAPSE OF THE MARK.

GREAT LOSS BY SPECULATORS. SOME RECOVERY MADE. London, August 27. Probably £200,000,000 has been presented to Germany, says the Weekly Dispatch, by credulous British speculators who bought marks, hoping for a recovery. Germany has long been alive to the use of our speculators and while the printing press were pouring out the new paper money at the rate of 9,000,000 marks weekly, offices were opened in other countries in order to facilitate exchange into foreign currencies. The central distributing centre is at Rotterdam. The collapse of the exchange ruined many who had invested their life savings. Heads of city firms, as well as mere city clerks, were caught, while some speculators who made fortunes during the war time in cotton, wool, and other commodities. ’’nvested heavily because they were so sure the mark would recover. The Germans now possess ample funds in foreign moneys, secured before th? slump, to be able to buy raw material without suffering the consequences of the present collapse. Berlin. August 26. Prospects of settlement had a steadying effect on the mark, which opened to-day at 9000 and closed at 7550. A NEW SUGGESTION. BY FRENCH JOURNAL. Received Aug. 28, 5.5 p.m. Paris. August 27. Le Temps, disclaiming official inspiration, suggests that Germany, instead of paying the Reparations Commission fifty millions in gold, due on August 15, should pay the Bank of England and the other Allies’ banks 150 millions due in August, September and October, and. if necessary, fifty millions due in November, all of which would be credited to Germany at the conference when settling the reparations question.

COMMISSION DELIBERATING. DECISION THIS WEEK. Paris. August 27. The Reparations Commission heard the Berlin mission -and announces officially that the decision relating to the moratorium will be declared on Wednesday afternoon. It will hear German representatives if Herr Wirth desires. POSITION IN GERMANY. THE DANGER OF CHAOS. London. August 27. The correspondent of the Daily Express says that Sir John Bradbury is very pessimistic regarding Germany’s internal condition. He holds that any violent French sanctions will produce chaos.