POINCARE’S CONDITIONS

Greymouth Evening Star, 7 November 1923, Page 5

POINCARE’S CONDITIONS

LIMITS TO ENQUIRY. FRANCE NOW ISOLATED. (Australian and N.Z. Cable Association) LONDON, November 6. M. Poincare’s reply has reached the Foreign Office. The “Morning Post” understands that it insists, firstly, that the scope of the proposed inquiry be limited to Germany’s present capacity to pay; secondly, that the conference be an advisory body, under the instructions of the Reparations Commission, and reporting to that body; thirdly that the conference shall have no power to examine, or intervene in, any arrangement already made or being negotiated between the French Government and German nationals. This is supposed to refer to the negotiations with the German industrialists. The “Morning Post” adds: “Interest, in’British official circles, is now focussed on the attitude of the United States towards M. Poincare’s conditions.” The “Daily Telegraph’s” diplomatic correspondent understands that the reply contains no specific reference to the Ruhr or the Rhineland. The “Daily Express’s” Brussels correspondent says that the Belgian Government does not intend to w r aver in the slightest from its stand regarding the functions of the proposed Reparations Committee. The Press keenly resents what it terms an outburst of bad temper on the part of the Paris Press. “Le Libre Belgique” says: France has never made any concessions likely to serve pacific Belgian interests. LATER. The French reply, received in London, suggests an enquiry into Germany’s capacity to pay at present and for a limited period of years, but does not suggest the precise period. WASHINGTON, November 5. State Department advices indicate that Britain, Italy and Belgium have reached a decision favouring a free and full reparations inquiry by an expert committee.

AMERICA’S INTIMATION. WASHINGTON, November 5. A statement of the French position regarding the reparations was brought here to-day by the French Ambassador, M. Jusserand, who is just back from Paris. It is indicated that, after a talk with Mr. Hughes, the American Government might be in a position to determine quite soon whether participation in an expert inquiry would be regarded as worth while. The Government holds to its view favouring the fullest possible exploration of the facts of Germany’s industrial productivity. The information given to the Government is that substantial reparation payments by Germany are not expected in the near future without a stabilisation of confidence in Germany. On the contrary, the United States is- almost facing a time when it will be able to make available large sums of money to feed German nationals, because of the confused economic situation in Germany. In these circumstances, the United States is more than convinced that the time has come when a financial plan to make possible the collection of reparation payments should be devised, and that such a plan to have practical value, must rest upon a study of every phase of Germany’s economic condition. Officials do not regard the creation of a commission to propose with a plan as in any way jeopardising the treaty rights so jealously guarded by France. LOSSES ON MARK. NEW YORK, November 6. Between 575,000,000 and 500,000,000 dollars have been lost by American investors through the collapse of the German mark. The “New York Tribune” states that English investors have also lost about five hundred million dollars, and other countries the same. The newspapers declare that Germany has not only repudiated her national debt, but is the gainer to the extent of about two billion dollars. The loss includes the funds of thousands of small investors, many of them German-Americans.

PRESIDENT EBERT’S' APPEAL. (Reuter.) BERLIN, November 6. “This is a very serious time for Germany, threatened with internal convulsions,” runs an appeal to the nation signed by President Ebert, declaring that the sections of the community, profiting by people’s distress, threaten to throw the torch of internecine warfare among people. He urges the maintenance of unity in the Reich, and upholding of law and order, concluding: “The Reichswehr and police will do their duty.