"MERELY A FARCE”

Hawke's Bay Tribune, Volume XXI, Issue 304, 8 December 1931, Page 8

"MERELY A FARCE”

THE REPARATIONS COMEDY. London, Nov. 27. “If Germany succeeds in her barely disguised attempt at finally repudiating reparations under the Young Plan—simultaneously convincing the world that she is unable to meet her con. mercial obligations—she will, instead of paying a war indemnity, have re ceived a handsome sum from the vie torious Allies,” declares the “Daily Mail,” in an article entitled “Thosj Topsy-turvy Reparations.” “Germany, between 1925 and 1930, received long short-term loans equivalent to £1,125,000,000, the United States providing 60 per cent, and Bn tain 35 per cent, of the amount,” states the article. “Germany in reparations disbursed only £625,000,000. Thus, disregarding the further commercial credit whirl Germany has received during the last six months, she will, if the slate tie wiped clear, have obtained a free gif' of £500,000,000. “Moreover, although it is frequently stated that the reparations cause. l Germany’s precarious situation, the fact is that Germany has not paid a single reparation from her own pocket, but has merely paid the Allies from loans. “It is pointed out that the £6,600,000,000 which the Allies in the flush of victory fixed the reparations at has been whittled down to £2,375,000,000 spread over 60 years. “It is important to note,” states the “Daily Mail,” “that Germany haspent exactly £2,475,000,000 in the last five years in organising her factories and in internal developments, £812,000. 000 coming from foreign loans, an I £1.653,000,000 from internal loans and taxes. “Sonic items are enormous, the ex penditure enabling Germany to flout the world with cheap goods. Here are a few of them: —£225,000,000 for reorganisation of mines and textile and chemical factories, £162,500,000 for now energy-producting plants, £400,000,000 for railway and other communications. £43,000,000 for small workshops and home industries, £375,000,000 for living and accommodation, including luxuiv homes on a great scale. ’ ’