CRISIS IN GERMANY.

Taranaki Daily News, 20 November 1922, Page 5

CRISIS IN GERMANY.

FORMING A CABINET. A NEW LEADER. ' GOOD CHANCES REPORTED. By Telegraph.—Press Assn.—Copyright. Received Nov. 19, 5.5 p.m. London, Npv. 18. The Daily Telegraph’s Berlin correspondent states Herr Cuno’s chances of forming a Cabinet are favorable. The chief difficulty will be to balance himself between the People’s Party and the Socialists. Herr Cuno is antagonistic to Herr Stinnes, whose ambition to become the industrial dictator of Germany is not favored by Hamburg shipping magnates. Herr Cuno is personally acquainted with President Harding, and is believed to hold broad and tolerant views on international affairs. Consequently it is thought he has the character and mentality necessary to grapple with the reparations problem, which cannot be solved without British goodwill and American gold. His efforts to form a Cabinet are being followed sympathetically. Practically all parties have the idea that France wished the Chancellorship to go to the more suave and the more plausible Herr Hermes, and this resulted in Herr Cuno abandoning a proposal to appoint him Foreign Minister. Received Nov. 19, 5.5 p.m. Berlin, Nov. IS. Herr Cuno luis abandoned the attempt to form a Caninet owing to opposition by political parties. Herr Ebert has requested him to make a further attempt with “RUIN” AND PROSPERITY. GERMANY’S AMAZING CONTRAST. FRANCE WITHOUT SYMPATHY. Received Nov. 19, 5.5 p.m. Paris, Nov. 18. M. Poincare, in the Chamber, contrasted the apparent ruin of the German State and the scandalous prosperity of German industry. He said it could not be pretended that the collapse of the mark was due to the enormity of the German debt or to German reparations payments being severe. The control of German finances was necessary, and he declared Germany could carry out a reasonable programme of restitution in kind. The Allies would obtain nothing by prayers and supplications. The Reparations Commission met nothing but impotence, inertia and bad-will from Berlin, and the time had come for the Allies to agree on making Germany meet her liabilities. By waste and extravagance at home and .by inflation of her currency, Germany had created her own financial distress.—Aus.-N.Z. Cable Assn.