BRITISH COAL FOR GERMANY

Bay of Plenty Times, Volume LI, Issue 8274, 28 April 1923, Page 3

BRITISH COAL FOR GERMANY

GUARANTEE BY GERMAN MAGNATES.

Press. Assoc. By Tel. Copyright Aust. —N.Z. Cable Assoc. Rec. April 28, 9,20 a.m. Loudon, April 27 The Daily Chronicle’s correspondent at Dusseldorf states that Cuuo and the industrial magnates are- experiencing great difficulty regarding the amount that the latter should guarantee in support of the new reparations offer. Some think £3,000, 000,000 is not 100 much. In order to end the Ruhr conflict they believe that Germany could eventually pay it. Others are strongly opposoffering anything beyond £ls, 000.b00.000. The Government now intends to offer the Allies a definite sum, but wants (0 know the extent to which it. can rely upon the- magnates’ guarantees. Owing to the protracted negotiations on this point the offer will not be made known till next- week. Rec. April 28, 8.50 a.m. Paris, April 27. The Matin, in an editorial, defines France’s attitude in the event of Germany making reparation proposals worthy of consideration, which is still doubtful. France would demand, as a first condition, the laying down of all arms, and the abandonment of every provision designed to encourage resistance to the Allies. Until Herr Cuno can give a clear, precise undertaking to that effect, France can only regard any attempt to open negotiations as a manoeuvre unworthy of serious attention. OBJECTIONS BY FRENCH JOURNAL. Rec. April 28, morning. London, April 27. The money market ridicules the Paris Temps charges that it is financing German resistance in the Ruhr, pointing out that British coal owners are legitimately trading there, certainly with no ill will towards France. Germany does not receive any special favour. She- has largely secured the wherewithal to pay for coal through shutting down many imports; in other words she has found the ordinary working balances here- sufficient to pay the cost of exceptionally large coal purchases, thus operations were done more or less on a cash basis by the institution of German balances abroad. Moreover, the cessation of reparation payments, following the Ruhr crisis itself, tended to increase Germany’s free balance. Cardiff exporters say they have refused to give Germany credit, whereas credit was given to France and Italy.