WAR DEBT PAYMENT

Gisborne Times, Volume LXXII, Issue 11493, 21 November 1931, Page 5

WAR DEBT PAYMENT

GERMANY’S FINANCE.

HOW CAN YOUNG PLAN BE ALTERED ?

(British Official Wireless.) RUGBY, Nov. 19. In the course of a House of Commons answer, the Under-Secretary for Foreign Affairs, Captain. A. Eden stated that the present negotiations, between the French and Germar Governments are understood to relate solely to the question of procedure, namely, how to adapt to the present circumstances the. provision m the Young plan for a special advisory committee to inquire into Germany’s fiancial position. The Times’ Paris correspondent says the preliminary Franco-German discussions regarding the procedure for the re-examination of the reparations problem by the Bank of International, Settlements special advisory committee have been virtually concluded, but no authentic details are available.

The correspondent adds that, without in any way prejudicing the committee’s possible findings regarding Germany’s capacity to pay, the British favors’ oomplete abolition of the Young plan for annuities, both conditional and unconditional, but solely on condition that all inter-Allied war debts, including Britain’s to America’s, shall be completely abolished and a clean slate established.

ITALY AND AAIERICA,

GRANDI’S VISIT TO PRESIDENT. FOUNDATION FOR WORLD BETTERAIENT LAID. iC.P.A. Wv EVc Tel. Cop v right. ) WASHINGTON, Nov. 19. A joint official statement announced to-day that Grandi-Hoover-Stim-son conversations consisted of a candid discussion of the present financial situation, inter-governmental debt reduction, armaments, and the stabilisation of international exchanges. . The statement said that the foundations have been laid for future Italian and American co-operation for world betterment, and expressed a conviction that the general acceptance of the one year’s arms truce forecasts good results at the Febru. ary Geneva conference. . The informality of the conversations. with the consequent lack of definite commitments, was emphasised. GERMANY PLEADS INABILITY TO PAY. (D P.A. by Elec. Tel. Conjwighfc,) (Received Nov. 20, 5.0 pm) BERLIN, Nov. 19. Ihe Government has sent a note to tile creditors of the Bank of International Settlements requesting a convocation of the special advisory committee of the bank to examine Germany s capacity to pajr reparations. A committee of German debtors is requesting an extension of the standstill noreoments relating to commercial debts expiring on February °9 _ BERLIN, Nov 1 . 19.' The Bank of Trade in House Ptoperty has suspended payments. The Government is expected to intervene m the interests of depositors, who are mostly small shopkeepers and house owners. (Received Nov. 20, 11p.m.) . PARIS, Nov. 19. ~ Addressing the Chamber of Deputies AI. Laval declared that ho would not. hear of a revision of. the x oung plan at ilio Olicpfiors conferonce and would not now.