DAWES REPORT

Hawera Star, Volume XLVIII, 24 July 1924, Page 5

DAWES REPORT

FATE IN THE BALANCE. BAN E'ER S SUSPICIOUS. I SHADOW OF POINCARE. BI CABLE—PRESS ASSOCIATION—COP YKIGHI. LONDON.. July 23. ihe fate .of the Dawes reparation plan still nangs in tne balance. The, diplomatic writer of the Daily Telegirapn says that M. Herriot (the Fieneh Premier) on Monday night openly stated that, if he had to choose between the £40,000.01)0 loan and the Versailles Treaty,, he would choose the treaty, as he could not compromise the future sovereignty of France. The Belgian statesmen, however, are calmer and more optimistic. M. Theuius (the Piemier) immediately got to wa.-k noon a, new formula, which is likely to be more satisfactory to the hankers who are told that, if they dasired special German reveniues earmarked for the £40,000,000 loan, the Allies would gladly agree. It is stated from French sources that the bankers’ demand on the question of recognising Germany’s defaults should he taken out of-the hands of‘the Reparations Commission,' and' it is added that international investors will not subscribe

while there is risk of a repetition of life. American bankers are of the opinion that the public will hold aloof if there is any chance of the money going to France in order to pay reparations instead of to. Germany for using it to restore her finances. The Daily Herald (the Labour paper) says Air Edward Norman (representing the Bank of England), Sir Robert Kindersley (representing Hazard Bros, and Co.), and Messrs Frewes and Lamonl (of Morgan’s) are empahtic in declaring they will not undertake to raise a loan on the present terms. They are anxious that the arrangement should not only have Germany’s formal assent, but also Geunany’s goodwill. On.the contrary, M. Harriot. is working under intense, pressure from Paris. The shadow of M. Poincare (the exPremier) is looming over the conference. Whateveir happens at the full meeting of the conference to-morrow, it is almost certain that the reports cf the three committees appointed last week will be considered. The financial experts had two long meetings with the bankers’ representatives to-day regarding the Allies’ views about security for the £40,000.000 loan, and it is expected that the bankers’ views will be submitted at to-morrow’s conference.; ■ The sub-committee of committee two expects to finish its examination of the question cf the restoration of German economic unity to-night in readiness for the consideration of the conference to-morrow.