THE REPARATIONS CONFERENCE.

Press, Volume LXVIII, Issue 20448, 19 January 1932, Page 7

THE REPARATIONS CONFERENCE.

POSTPONEMENT FAVOURED BANK OF ENGLAND'S VIEW. (UMTED TRESS ASSOCIATION—BY ELECTEIC TELEGRAPH—COPYP.IGHT.) (Received January ISth, 11.36 p.m.) LONDON, January 18. Tho diplomatic correspondent of the ''Daily Telegraph" says it is now expected that the Lausanne Conference on .Reparations will pronounce in favour of an extension of the moratorium for six months, and will adjourn for the same period. Indications in the United States at present are that any further prolongation of the moratorium will be opposed. In any case, France will attend the Lausanne Conference in a reluctant and distrustful spirit. Tho Bank of England also favours a postponement for six months, as it holds that anything short of an all-round cancellation would bo worse than no settlement at all.

POLICY OF PRANCE. COMMENT BY "THE TIMES." UJRms.U OFFICIAL WIRELESS ) KUGBY, January 17. •'The Times," in a leading article, &ays reparations represent the first international question to which the now French Government will have to address itself, after seeking a vote ot confidence in the Chamber of Deputies. The official French policy remains what it waa when M. Pierre Lavul (Premier) returned from Washington. "It may be hoped that the New Government will recognise the advisability of reaching agreement, in common deliberation with tho other countries concerned, both upon the immediate issue of next July, and upon the larger question of the ultimate resumption of payments after the period of depression is over, says "The Times." Arguments against the immediate abrogation of the rights conferred upon the creditor countries by the Haguo Agreement are fully understood in this country. Nor does it seem reasonable to cancel finally and formally tho reparations payments due so loiig as war debt payments remain an obligation. "This country long ago placed on record its view that tho world would profit by all-round cancellation. The question for discussion at Lausanne, however, is not war debts, but reparations. But in regard to all those interGovernmental obligations the conviction has steadily grown here that their payment has been pernicious to the general economic system of the world. In regard to reparations there must be the largest possible clearance at Lausanne. Nevertheless, if it is found that no agreement is possible on fundamental points at tho present moment it would be best to arrange for a.hrier oxtension of the moratorium, with a lirm undertaking hv all the participants that they will meet again in the present year to reach a more lasting solution.'"