REPARATIONS

Evening Post, Volume CIX, Issue 144, 21 June 1930, Page 9

REPARATIONS

BRITISH RECEIPTS

TO PAY U.S. WAR DEBT

PRINCIPLE OF YOUNG'PLAN

British Official Wireless. (Received 21st June, 11 a.m.)

RUGBY, 20th Juno.

A memorandum on British receipts, from German reparations' under The Hague agreements has been issued. TJia memorandum explains that the total annual receipts of the United Kingdom comprise, first of all, the share whicih tho United Kingdom is entitled to re« coive out of German annuities prescribed in the experts' report. The plan did not fix the exact amount of the United Kingdom share, and only fixed annuities payable to the British Empire as a whole. But it was understood that the intention of the experts was to provide for the United Kingdom during a period of fifty-six years precisely the annual amount required to make up, with our receipts from interAllied debts, our war debt payments to the United States Government and to provide an average sum of £2,600,----000 during a period of . thirty-sevea years for the res f of the British Empire, this sum representing approximately the full share which the rest of the Empire would have received on aa average if the German annuities, during the first thirty-seven years had been distributed in accordance with the existing percentages. It has been agreed that the British Empire share shall be divided between the United Kingdom and the rest of the Empire on this basis, and tho resulting annuities payable to the United Kingdom have been communicated to the Bank of International Settlements. These receipts re-: present only the payments specifically provided for in the experts' report. In the second place, the United Kingdom will receive a cash payment of 102,000,000 reichmarks, or £5,000,000, , transferred by other creditor Govern- \ ments in order to cover the payment of the British debt to the United States in 1929-30.

In the third place, there aro annuities payable for thirty-seven years to the United Kingdom by France, Belgium, and Italy under The Hague Protocol of 31st August, 1929. These annuities were offered by other creditor Governments as a partial means of compensating this country for the difference between receipts to which we were entitled under the new plan and the amount which we should have received if the total German payments had been distributed in accordance witli the percentages previously in force.