THE GERMAN DEBT

Dominion, Volume 22, Issue 93, 14 January 1929, Page 9

THE GERMAN DEBT

COMMERCIALISING SCHEME flotation of big bond ISSUE IN AMERICA OFFICIALLY OPPOSED IN WASHINGTON (United Press Association.—By Electric Telegraph.—Copyright.) (Australian Press Association.) (Rec. January 12, 5.5 p.m.) i Washington, January 12. The United States will not approve of the flotation on the American market of a huge bond issue by Germany and the former Allies who are considering the liquidation of Germany’s war The State and Treasury Departments announced this 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 planning to . undertake the revision of the Dawes plan. The announcement followed Mr. Young’s conferences with President Coolidge and Mr. Kellogg today. The Treasury Department also announced that such bonds as those mentioned above will not be accepted In payment of the French, British, Italian, and Belgian war debts to the United States. It is assumed that the decisions will be announced to Germany and the Allies by Mr. Young. American bankers are reported to be as unwilling as the Government to float German bonds in this country in any such quantity as would be involved by the projected scheme for commercialising the German debt. THE REPARATIONS QUESTION EXPERTS’ COMMITTEE COMPLETE (Rec. January 13,11.5 p.m.) London, January 13. With the announcement of the names of the American members, the constitution of the Experts Committee on Reparations is now complete. Mr. Young’s name is regarded as a guarantee that the inquiry will be serious and busincssliko. • • • * ' - The British Foreign Office has appointed Sir Charles Addis, Director of the Bank of England, and Sir Basil Blackett deputy members of the committee. ■ ■ . “■. ?•