NEW PROPOSAL.

Auckland Star, Volume LXII, Issue 307, 29 December 1931, Page 7

NEW PROPOSAL.

WORLD CONFERENCE. Consideration of General Moratorium. POSITION OF DOMINIONS. (United P.A.—Electric Telegraph—Copyright) t, ———• (Received 12 noon.) LONDON, December 28. The "Sydney Sun's" special correspondent understands that Britain and France are nearing a reparations agreement in readiness for the International Debts Conference,"to enable the granting to Germany of a general moratorium, to be followed immediately by America's European debtors seeking a similar moratorium from the United States. The conference will probably take place at Geneva or Lausanne on January 20. America's unyielding attitude has led Britain and France to overcome their three main differences. Prance will forgo her insistence of on Germany's commercial debts in the event of a further general moratorium.

France-has further insisted that the principle of the Young Plan shall remain intact, which point Britain concedes. The latter wanted the forthcoming conference to negotiate for a permanent arrangement, but is now prepared to agree to a provisional adjustment.

The hasty convening of the conference will probably preclude the direct representation of' the Dominions, but in the event of a general they will, not be affected. It will be virtually a reopening of the Hoover Plan. Britain will similarly relieve the Dominions of their debts to the Mother Country. The next move would be for the European States to request the United States to concede a general moratorium.