CAN IT BE SQUARED UP?

Evening Post, Volume CVII, Issue 86, 10 April 1924, Page 5

CAN IT BE SQUARED UP?

EXPERTS SUBMIT A PLAN

good faith'the essential basis. :■■,-. '

(C.VITSD PBSSS ASSOCIATION.—OOPIRIOHT.) ' , (RSUTJiK'S TiUOIAU.) ■ • • ■ (Received 10th April,' 11.30 a.m.) . : ... •! PARIS, 9th. April. ' Official.—The Dawes Committee's report in . regard to the -measures to, be taken to balance the German Budget aiid stabilise tie currency states that while recognising that political considerations set certain limits within! which a solution must be found if it is to have any chance of acceptance, the committee, has been concerned with the problem of debt recovery, and not of tho j imposition of . penalties. , As, business men. the members consider it hopeless to build any. constructive spheme ex-, cept on a basis of good faith, and they submit their plan, relying upon cdl the parties carrying it out on such a basis. The- committee concludes by saying: "There is no' method of balancmt; the German Budget, temporarily or permanently, under, the present limitations of - Germany's .fiscal .and economic rights over, part of her area. They arc-there-fore coiripejled to base their report sole-, ly on the hypothesis that, the fiscal and1 economic unity of^the Reich shall be^ restored. '■■'■■■■■.-.- ' ' ■ ■ ■ ■•.■■ ■ CONTROL MUST BE WITHDRAWN . The .experts emphasise that their forecasts are based on the assumption that : . economic activity ■ will not. be hampered by any form of control or organisation i other than that provided by the scheme. f AH existing measures hampering such activity must consequently be .with- • • drawn as soon as" Germany has. taken positive steps towards the plan,' such as establishing' machinery by which the assigned revenue can ilow through allied control.'•'Such measures should not be. reimposed except in'the case of flagrant . failure.. when the creditor Governments isllould determine the nature of the sane- i tions to. be imposed. ; ' The committee' proposes the establish- . rtent of a new issue bank, in Germany or ths reorganisation of the: Reichsbank, as an' essential ,agency for the creating of a stable currency. I■