BENEFICIAL CONFERENCE

Hawera Star, Volume XLVIII, 16 January 1925, Page 5

BENEFICIAL CONFERENCE

HARMONY RESTORED. . INTER-ALLIED DEBT SETTLEMENT BY CABLE —PRKsS ASSOCIATION —COPYRIGHT. LONDON, Jan. 14. Cabinet meets to-morrow to hear the report of Mr. Winston Churchill (Chancellor of the Exchequer) on the Paris Conference and to prepare a reply to the Note which M. Clemente! (T rench Minister for Finance) handed to Mr. Churchill on the subject of Anglofrench indebtedness.

A message from Paris states that the reservations made by Italy and Boumania are not fundamental, but merely cover the interpretation of the protocol conference. The Brazilian Minister signed with a reservation as regards Brazil’s right to eventual participation in the Dawes annuities.

The conference is probably the first inter-Allied meeting which has left no heartburnings. General satisfaction is expressed by M. Clementel, Mr Churchill and Mr Frank B. Kellogg (American representative) when speaking at the plenary sesion that the Allies aro again working in complete harmony, and that a definite stage had been reached towards the reconstruction of Europe. The Premier (M. Her riot), entering at the close of the proceedings, congratulated the conference on its positive results. M. Clementel, referring to the problems still ahead, placed in the forefront the friendly, he might say the brotherly settlement of the interallied debts. Mr. Churchill: dwelt on the arrangement made to meet the wish of the United States to be included effectively within the scope of the Dawes scheme. He said when the matter was first broached, the British Government Maintained an attitude of reserve for some weeks. The Anglo-American conversations had been lively and prolonged, but frankness and cordiality had enabled a solution to be reached. The American plan did not impose an onerous burden, on the Allies’ finances. Indeed, the burden on the Allies would be less during the early difficult years than in would otherwise have been, and although, if the Dawes plan marched to a full and normal inclusion, there would be a substantial advantage to the United .States, this advantage would only be during periods when all the Allies, were better off than they were at present. The Paris correspondent of T.he Times says: “The conference terminated in a spirit of quite extraordinary satisfaction. Everybody was pleased with this, which reached a full agreement cn all points. The credit for this result is accorded to Mr Churchill, who succeeded in re-creating the spirit of solidarity and friendly agreement v hicli has been lacking since the war “There are many reasons why the delegations should be particularly content. The conference was able to control the whole series of awkward disputes recently disturbing the harmony of Allied relations. It is true the Dawes scheme raised the reparations question to a less contentious plane, but even if it left a number of knotty points, these, we are assured, are now permanently settled.”

NO. LONGER, AN OBSERVER. NEW POSITION FOR U.S.A. LONDON, Jan. 15. The Paris correspondent of the Daily Telegraph points out that the real meaning concealed behind the intricate details of the Allied financial settlement is that the United States is no longer a mere observer, but a direct participant in German reparations. The Dawes plan consolidated the German reparation payments into a single annual payment. The Paris agreement wipes out past wrangles over the allocation of reparation receipts among the Allies. It supersedes all previous schemes for- the division of reparations, and lays down clear rules for future allocations. All differences concerning the interpretation of the new agreement will \be settled by arbitration. Competent persons calculate that- the first Dawes annuity after the deduction of the first charges for the cost of occupation, etc., should yield £33,000.000 to the Allies. France’s and Britain s percentage thereof, as fixed at the Spa Conference, will be slightly reduced in consequence of payments to the United States. .

Le Temps says that some of the decisions will be criticised on the ground of the sacrifices France is asked to make, hut the paper considers the conference marked moral progress in, Allied negotiations, and specially emphasised Mr. Churchill’s services as indicating the new spirit in which Britain is considering the problems of peace and the necessity for the consolidation of the Entente.

Other newspapers praise Mr Churchill’s conciliatory conduct of the British ease, though the American delegate, speaking at the end of the conference, said Mr. Churchill drove a. very hard bargain. The Journal des Debats considers that the United States won all along the line, since it will share reparations, although it has not signed the Versailles Treaty. The paper hopes that now the United States will help the Allies to see that the Dawes plan is carried out.

The Paris correspondent of the Morning Post savs M. Clemente] has written to Mr. Churchill on the subject of Allied debts, seekinc a written assurance that Britain adheres to the principle of the Balfour Note. Tt is_ understood Mr. Churchill’s reply, which will nrobablv he published in London and Paris to-day. will confirm adherence to the Ba.lfour Note.