WORLD PROBLEM.

Auckland Star, Volume LX, Issue 11, 14 January 1929, Page 7

WORLD PROBLEM.

GERMAN WAR DEBT. Disapproval Of Huge Bond Issue In America. EXPERTS COMMITTEE NAMED. (Australian and N.Z. Press Association.) WASHINGTON, January 13. The State and Treasury Departments announce that the United States will not approve the flotation on the American market of the huge bond issue which Germany and the former Allies are considering to liquidate Germany's war obligations.

At the same time it is unofficially announced that Mr. Owen D. Young has accepted an invitation to become one of the unofficial American experts on the committee which is to undertake the revision of the Dawes plan.

This announcement followed upon a conference Mr. Young had yesterday with the President, Mr. Coolidge, and tho Secretary of State, Mr. F. li. Kellogg. Th e Treasury Department also announces that the bonds referred to will not be accepted

in payment of the French, British,

Italian and Belgian war debts to the United States. It 13 assumed that this decision will be announced to Germany and the Allies by Mr. Young.

American bankers aro reported to lie as unwilling as the Government to float the German bonds in this country in any such quantity as would be involved by tho projected scheme for commercialising the German debt.

A message from London says that, with tho announcement of the names of tho American members, the constitution of the Experts' Committee on Eeparation is now complete. Mr. Young's name is regarded as a. guarantee that the inquiry will be serious and businesslike.

The British Foreign Office has appointed Sir Charles Addis, Director of the Bank of England, and Sir Basil Blaekett, as deputy members of the committee.

DEPUTY MEMBERS.

PROMINENT ENGLISHMEN. (British Official Wireless.) (Received 12 noon.) RUGBY, January 13. Sir Charles Addis who, with Sir Basil Blackett, has agreed to act as a British deputy member of the Committee of Experts to frame proposals for the final settlement of the reparations questions, was British representative under the Dawes plan on the General Council of the German Reiehsbank.

Pir Basil Blackett has been nominated chairman of tha proposed Communications Company.