THE ALLIES

Hawera Star, Volume XLVIII, 25 July 1924, Page 5

THE ALLIES

NO PROGRESS. * DIFFICULTY WITH BANKERS. LONDON, July 24. Though the Allied conrer.&nee met in a plenary sitting, the day lias been one of stocktaking and no progress, owing to difficulty with the bankers, though the general belief is that the French delegates are sheaving a desire to meet tne wishes of me other delegates. Tne political correspondent of the Daily T elegiapn says the British ana American Bankers are still intent on tiding away with the real powers oi the "Reparations Commission, and also insist tnat separate action by a single Power be barred before they will consent to underwrite the loan.- France regards this as a step towards the destruction of the Versailles Treaty. Ail the ingenious formulae presented by the Belgian Premier (M. Tlieuiiis) failed to shake the convictions of Mr Montagu Noun an (representing the Bank of England) and his banker colleagues. An official communique in connection with the conference shows that after the- Premier (Mir Ramsay MacDonald) issued a statement in regard do the representation of the Dominions and India on similar terms, Mr l y . H. Thomas (Colonial. Secretary) made. announcement in the House of Commons that a committee of jurists had been appointed to report on the question as to- whether the putting into operation of the Dawes plan would give irise to questions, and, if so, which would lie required to be settled by agreement with Germany, and what procedure, should be adopted in order to arrive-at such an agreement without in any way running counter to the Treaty of Versailles. Consideration of the report of the first committee was deferred pending tlio conclusion of the work of the second and third committees. Sir Robert Kinderslev (representing Hazard Bros, and Co., bn inkers) submitted a report to the thiird committee regarding the organisation to be established for putting to proper use the payments bv Germany, particularly deliveries in kind. The committee are of opinion that the Reparations Commission, existing for inter-Allied service, is eminently suited to this purpose. Therefore, it is unnecessary to appoint a new body. As a- result of the discussion, the terms of reference of the third committee have been extended.