THE LIMIT REACHED

Evening Star, Issue 20239, 29 July 1929, Page 9

THE LIMIT REACHED

BRITAIN'S REPARATIONS SACRIFICES STATEMENT BY CHANCELLOR OF THE EXCHEQUER {British Official Wireless.) Pres* Association—By Telegraph—Copyright ' 11UGBY, July 27. Mr Lloyd George (the Liberal Leiuler) called attention in the House ct Commons to the Young report on reparations, and said ho was amazed that it should ever have been presented to tho British Treasury as a I'air settlement ol tho claims ct Great Britain,

Mr Philip Snowden (Chancellor of tbo Exchequer), in reply, said that the Government was not in any way committed to acceptance of tho Young report. Ho realised the difficult task he would have in approaching the conference, and he could only say that ho would do his best to obtain justice for this country. Whatever the result of the conference might be, he assured the House that there would be no further sacrifice of British interests. There was no desire to increase .lie amount of tbo annuities which Germany would bo called upon to pay. That was one point in the report on which lie thought there would be very general agreement. There was, however, already a difference of about £‘200,000,000 between what we had paid to America and what we had received from Continental debtors. Under the scheme wo should have to abandon all hope of ever getting anything towards that £‘200,000,000 of arrears. _ With regard to tho question of deliveries in kind, the Government realised the seriousness of the question for an exporting country like our own. Anything that the Government could do to case the situation would certainly be done. The proposals constituted a new demand for further sacrifices from this country, and from the standpoint of our national finances our position was sufficiently serious. Therefore we should maintain such right as wo. had. “ 1 think iam expressing the view of tho Government,” said Mr Snowden, “ when I say that the limit of concessions by this country has been reached. Our sacrifices have been magnanimous, generous, and quixotic, and they have imposed a burden of £GU,UOO,UUU a year upon our own people, which will remain even if wc got our payments from Germany and our Continental debtors.”