LOAN FOR GERMANY.

Ashburton Guardian, Volume XLV, Issue 10168, 25 July 1924, Page 5

LOAN FOR GERMANY.

SAFEGUARDS REQUIRED.

FRANCE’S SOVEREIGN RIGHTS

EXPERTS’ PLAN AND TREATY. (Per Press Association—Copyright.) (Reuter.) (Received July 25, 11.35 a.m.) LONDON, July 24. British circles are not pessimistic ! regarding the conference, but are now ! convinced that the conference will last ! some time, possibly until the first week jin August. Though competent French quarters in London admit a certain f deadlock, feeling is not pessimistic. It I is not believed the conference is about to break down. On the contrary, a prominent member of the delegation declared a way would certainly be found eventually out of the difficulty in regard to proper guarantees to bankers and the maintenance of the sovereign rights of France according to the Treaty of Versailles. The Paris Press generally agrees that the London Conference has reached a critical stage, but it is premature to talk of rupture. The “ Petit Parisien” anticipates the dffiiculty with the financiers will be overcome in a few days by the adoption in a modified, form of the suggestion of M. Theunis, that in the event of the necessity for imposing fresh sanctions other than recommended by the Experts’ Committee, the Power which imposes such sanctions shall guarantee the service of a German loan.

OFFICIAL STATEMENT.

COMMITTEE OF JURISTS. LONDON, May 23. An official communique issued in connection with the Allied Conference, shows that after Mr MacDonald had issued a statement in regard to representation of British Dominions and India, similar to that Mr J. H. Thomas made’ in the House of Commons, a committee of jurists was appointed to report on the question as to whether the putting into operation of the Dawes plan would give rise to questions, and if so which, requiring to be settled by agreement with Germany, and what procedure should be adopted in order to arrive at such an agreement without in any way running counter to the Treaty of Versailles. Consideration of the report, of the first committee was deferred, pending conclusion of the work of the second and third committees. Sir Robert Kindersley submitted the report of the third committee regarding the organisation to be established for putting to proper use payments by Germany, particularly deliveries in kind.

The committee was of opinion that the Reparations Commission and existing inter-Allied service were eminently suited to this purpose, therefore, it was unnecessary to appoint a new body. As a result of the discussion the. terms of reference for the third committee were extended.

DEMANDS OF BANKERS. SEPARATE ACTION OPPOSED. LONDON, July 21. Though the London Conference met in plenary - sitting the day has been one of stocktaking and not of progress, owing to the difficulty with bankers, though the general belief is that the French delegates are showing a desire to ©meet the wishes of the other delegates. The political corresponded* of “Daily Telegraph” says l ; ‘‘British and American banker, s ; are still intent on doing away with the real powers -of the Reparations Commission, and they also insist that separate action by a single Power should be barred before they consent to underwrite a loan. France regards this as a step towards the destruction of the Versailles Treaty. All the ingenious formulae presented by M. Theunis have thus far failed to shake the convictions of Mr Norman and his banker colleagues.