DEBT SETTLEMENT.

Hawera Star, Volume XLV, 24 August 1925, Page 5

DEBT SETTLEMENT.

INTER-ALLIED NEGOTIATIONS

THE ROWER OF MONEY

BY GABI E—PRESS ASSOCIATION--COPYRIGHT

LONDON, Aug. 22. Mr J. L. Garvin, writing in the Observer, says it is hoped that the settlement of the Anglo-French debt negotiations will be reached this week. France then must face the ordeal at Washington, where America’s 60 years’ liquidation will broadly l>c arranged and European countries will know where they stand. “We are sure there will be one consequence in view of the long extended vista of liabilities,” Mr Garvin adds. “The future statesmen of Britain, France and Germany, not excluding Belgium and Italy, will he forced into a system of economic co-operation, whL-h will extend to the colonial sphere, at least tropical Africa. That would he one means of solving the problem of European reconciliation and security.

“All will he forced to develop their internal resources to the utmost and develop sources for the supply of raw materials. The more they have paid America the loss they can afford to Imv from America. I believe that within 20 years one of the eternal paradoxes of history will reveal itself, and that compulsion of remittances’ to America will do more to promote unity, power and wealth in Europe than the League of Nations.”