GERMANY’S DEBT.

Taranaki Daily News, 1 December 1922, Page 5

GERMANY’S DEBT.

FRANCE’S NEW SCHEME. INTERNATIONAL LOAN. MORATORIUM PROVIDED. By Telegraph.—Press A.sbjq. —Copyright. Received Nov. 30, 5.5 p.m. London, Nov. 29. An international loan floated by world finance, to be divided between Germany and France, is, according to the Daily Mail’s Paris correspondent, France’s latest reparation scheme. It also proposes a moratorium for Germany for five years. The French share of the loan will be in lieu of German payments, while the Germans’ share will be utilised to stabilise the mark and industry and enable it to discharge its obligations. ’ The scheme provides for the cancellation of all French debts to the Allies for the purchase of war stores, France agreeing to cancel all Allied debts to her. The Daily Mail says a high London financial authority considers the scheme impracticable and impossible for Britain ro carry out without bankruptcy. He points out that if Germany was granted a moratorium she would not need a loan.—Aus.N.Z. Cable Assn. FRANCE’S REPORTED THREAT. AN OFFICIAL DENIAL. Received Nov. 30, 7.50 p.m. Washington, Nov. 29. Following insistent reports that Francs is preparing to invade the Ruhr Valley should Germany fail to meet the next reparations payment, the French Embassy has issued a statement denying that such action is contemplated. Shortly before this was issued a high Government authority stated the American army of occupation on the Rhine will not be returned to the United States for the present, because of an important reason in connection with foreign affairs. While the official declined to state the reason, it was indicated that France’s reported decision considerably influenced the American action. FIRM ATTITUDE OF FRANCE. Paris, Nov. 29. Publishing further details of the secret conference cabled yesterday the newspapers emphasise that the discussions were not intended to interfere with Allied solidarity. The decisions only amounted to French recommendation.t to the Allies for consideration in the event of a reparation deadlock. M. Poincare will see Mr. Bonar Law in London within a few days and discuss Brussels Conference matters.