REPARATIONS

Hawera Star, Volume XLIX, 30 August 1929, Page 5

REPARATIONS

PROPOSED SETTLEMENT. CONCESSIONS TO BRITAIN. MAIN FEATURES EXPLAINED. (British Official Wireless./ RUGBY, August 28. The delegates to the Hague Conference of Britain and the four other Powers under the Young plan were in continuous session from five o’clock last night until half-past one this morning and reached an agreement, the final adoption of which is dependent on the consent of Germany on only two points.

Broadly r stated, France, Italy, Japan and Belgium have responded to Britain’s demand for a fair distribution of the reparation annuities by conceding rather more than 83 per cent, of the 48,000,000 marks which Britain would have lost under the Young plan of distribution, and have agreed that Britain should receive 80 per cent, of the share of the unconditional annuities which she demanded. This result was announced in a com-, mumque issued by the British delegation at 1.35 this morning, in the following terms: ‘ ‘At midnight agreement in principle was reached by the delegations of the creditor governing Powers ais to the method of meeting the requirements of the British delegation regarding the distribution of the anuities and regarding deliveries in kind.

“It was agreed, in principle, that the other creditor Governments would by adjustments to be made, subject to the consent of Germany, within the framework of the Young plan, secure to Great Britain an additional 40,000,000 marks annually, 36,000,000 marks whereof should consist of capital annuities guaranteed by the other creditor Governments.

“It was further agreed that Great Britain should receive an unconditional annuity, additional to these 36,000,000 marks, of 18,000,000 marks from the balance of the unconditional annuity available under the plan for distribution, and an additional 42,000,000 marks to be made available by arranging, subject to Germany’s consent, the annual amount of unconditional annuities, without increasing the aggregate total, in such a way that the amount available for distribution among the creditor Governments, after meeting the Dawes loan, should be a fixed sum for each year. A final agreement embodying these points is being prepared.” The Rt. Hon. Philip Snowden received many telegrams at Te Hague to-day congratulating him on having by his firmness obtained 83 per cent, of the demands which he made for Britain. These congratulations came from the Prime Minister, members of Cabinet, the leaders of all parties in Great Britain, and prominent British financial persons. The representatives of the five Powers —Britain, France, Italy, Japan and Belgium—met Germany’s delegates today to obtain their assent to the new agreement. Dr. Stresemann, the German Foreign Minister, asked for time to give his reply, and the meeting was postponed until later in the day.

TAXPAYERS’ BURDENS EASED. MR. SNOWDEN’S ACHIEVEMENT. {United Press Association—By fiiectne, Copyngtit.J (Australian Press Association.! LONDON, Aug. 2m The Hague conference adjourned after dinner without having arrived at any result. It will be continued tomorrow. Herr Wirth left the conference at 2 a.m. obviously angry. He said the conference had not reached agreement on a single point. “If Mr. Snowden asks for 100 per cent. Germany must also get satisfaction,” he said. “She cannot allow everything to be done at her expense.” An expert, explaining the financial settlement, points out that whereas Britain will receive her reparations in regular monthly instalments she will pay America quarterly the interest accruing. This increases the amount the settlement gives to 83 per cent, otj the British claim; otherwise it would be 75 per cent. The settlement in connection with the unconditional annuities also represents 80 per cent, of the British claim.

Presuming that France, Italy, and Belgium will compensate tlie small Powers for the losses, it iis estimated the settlement involves the Powers in the following sacrifices out of the unconditional annuities: France, £185,000; Italy, £107,000; Belgium, £74,000. Germany will actually make no financial sacrifice, hut will only renounce her share oi' the 300,000,000 marks surplus, to which her claim has never been admitted. “What lias been achieved by Mr. Snowden cannot be assessed in the coin of the realm, not merely because lie has eased the taxpayers’ burdens, biit because he has certainly prevented them be ill"; increased,” isays the “Daily Express.” “It is also certain that his countrymen are now prepared to accord a national welcome to Mr. Snowden, who put British prestige in the eyes' of Europe on a pedestal higher than it lias occupied since the armistice.” The “Daily Chronicle” remarks: “Mr. Snowden han put an end to the European habit of bleeding Britain.” “The Times” says: “Mr. Snowden played a strong hand with consummate courage, persistence and skill. The settlement is greeted, even on the Continent, with something like relief. Now that the battle is over it may lie hoped the bitter words of contro- j veisy will speedily be forgotten at the removal of the obstacle which threatened a. hold-up of the genera] work of the pacification and conciliation of Europe. The organisation of the bank, an international settlement of the final liquidation of the Rhine occupation still remain for settlement.”

EVACUATION OF RHINELAND. POWERS REACH AGREEMENT. OPERATIONS TO START NEXT MONTH. (United Press Association —Bv Electric. Telegraph Copyright.) (Australian Press Association.) Received 10.20 a.m. to-day. THE HAGUE, Aug. 20. It is announced that the five Powers have readied an agreement with Germany, and that the three Rhineland Powers have reached an agreement on political nuestioTLs entailing the beginning of the evacuation in September and completing tbe withdrawal of Anglo-Belgian troops in three months. Franco will simultaneously be evacuating the second zone, and the third zone will lie evacuated after the ratification by tbe Franco-German Parlia-

ine-nts ancl the implementation of the I Young plan, after which the withl drawal will proceed as rapidly as possible- and lie completed not. later than the end of June, 1930. This agreement depends on. a- fmanjeial settlement, hv Germany.