BRITISH LOSS.

Auckland Star, Volume LX, Issue 139, 14 June 1929, Page 7

BRITISH LOSS.

WAR DEBT PLAN. Financiers Severely Critical Of Young Scheme. £200,000,000 OF ARREARS. (Australian and N.Z. Press Association) LONDON, June 13. The diplomatic correspondent of the "Daily Telegraph" says the French and German Foreign Ministers, M. Briand and Herr St-resemahn, are reported to have discussed privately a plan for an international conference to endorse the oung reparation scheme; also to consider the anticipated evacuation of the Rhineland. The two statesmen did not endeavour to reach a concrete agreement in the absence of a representative of the present British Government. They felt that the magnitude of the problems would warrant the presence of the various Prime Ministers. The correspondent says Mr. MacDonald, at any rate, intends to attend the proposed conference, and M. Poineare, Premier of Prance, may be convinced of the expediency of a direct exchange of views with his British colleagues. Some of the highest financial authorities in Britain are severely critical of the Young plan on the ground that Britain loses £200,000,000 of arrears in respect of her initial debt and repayments to America. These authorities say they doubt whether the International Bank will prove to be workable. They fear that if it is it may be used to finance German exports to the detriment of British goods.