REPARATIONS.

Taranaki Daily News, 30 August 1922, Page 5

REPARATIONS.

CONFERENCE ARRANGED. MEETING WITH GERMANS. NEW PROPOSALS MADE. By Telegrxpb.—Press Assn.—Copyright. Paris, August 28. Germany has accepted the invitation of the Reparations Commission for a conference in Paris. Herren Bergmann, Hermes and Stinnes will represent her. It is understood that the German Government has agreed, in return for a moratorium, to allow complete control of the finances by a commission acting in the name of the Allies, providing such body be composed of representatives of parties outside the present discussion, preferably' American financiers. In this connection it is interesting to note from messages from Berlin that the political parties in Germany received with satisfaction the proposition by Governor Cox, made in London, that Mr. Herbert Hoover be nominated arbitrator in regard to the amount of German reparations. CONTROL OF GERMAN PURSE PREVIOUS REPORT CORRECTED. BRITISH VIEW UNCHANGED. Received Aug. 29. 53 pjn. London, August 28. The Daily Chronicle’s Paris correspondent states: “Sir John Bradbun, authorises me to contradict the report that Germany is willing to hand .over complete financial control to American financiers acting on behalf of the Allie*. Sir John Bradbury states Germany might accept financial control by a commission composed of the world’s best financiers, but the time for this has not arrived.” T'- correspondent adds that Belgium will pro. ’y submit to the Reparations Commission Le Temps’ scheme. The British commissioner's views have not changed. He is still in favor of a moratorium, for which a majority may still be found. 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. THE MARK RECOVERS. BETTER TONE MANIFESTED. Received Aug. 29, 53 p.m. Berlin, August 28. The Reparations Commission’s invitation to hear a German delegation had a good effect, notably on the Stock Exchange, where the sterling exchange opened at 8000 marks and closed at 6400. The trade returns reflect the effects of the exchange fluctuations. Imports for July exceeded exports to the extent of ten thousand million marks, which is double the previous highest adverse balance. Berlin, Augwt 28. At the Leipzig autumn fair the exhibitors are more numerous than in the spring, totalling 13.000, while 100,000 visitors are expected. The collapse of the mark has brought to a standstill the import of English coal. It is hoped that an agreement by which the men will return to work six hours overtime weekly, in return for inerased pay, will make good the shortage.

REPARATIONS AND THE MARK. Sydney, August 29. The Sydney Morning Herald, in a leader on the depreciation of the German mark, says the question of the mark is completely bound up with the subject of German reparations. Whatever may be the intentions or the willingness of the German people in the mass to pay, there is no doubt the great industrial leaders have made up their minds that, in order to get out of paying the indemnity, they will threaten the whole industrial mach’nery, not only of their own Empire, but of the world, with ruin, with the hope that the Allied leaders will recoil from such a vision. The mark is where it is to-day because the industrial and commerce leaden decided not to recognise it as their currency. The Herald continues: Not until an effective mortgage has been taken over Germany's future wealth will there be any prospect of adequate reparation meing secured. The German leaders believe the world is too war-weary to take steps to •htain the mortgage.