GERMANY'S NEW PROPOSALS.

Hawera & Normanby Star, Volume XLII, Issue XLII, 9 June 1923, Page 7

GERMANY'S NEW PROPOSALS.

LONDON PRESS VIEWS. BY CABLB—PRESS ASSOCIATION—COPYRIGHT .LONDON, June 7. The text has been issued of the Germau Note. It first requests that a conference be held to discuss the best method of paying reparations, Germany's liability for which is again acknowledged. The Note reiterates willingness to accept the decision of an impartial international tribunal, to which she is willing to supply all available information from which Germany's capacity to pay can xeliably be judged. The Note proposes the following guarantees as part of a definite reparation settlement: — (1) That the railway system be held In a separate -fund and obligations be issued up to 10 milliards of gold marks, -carrying .interest at 5 per cent, from July 1, 1923, thus securing an annual of 500 million marks. (2) A first mortgage of 10 milliards of gold marks on industrial and real estate. (3) Two hundred million gold marks, j to be raised from Customs duties on \ imported consumable articles other i than necessities, the excise on tobacco, "wine, beer, sugar and the receipts from the spirits monopoly. This yield will automatically increase. WASHINGTON, June 7. There is considerable optimism in official circles here over the latest Ger- , man reparations proposals, a copy of i which the German ambassador handed ; to Mr. -C. E. Hughes (Secretary for j State) to-day. It is felt the Allies and j Germany are gradually approaching a j "condition where a meeting of minds • and minds will occur. The sentiment j also favours the German suggestion that a conference should be called to determine Germany's ability to pay, and it is hoped such a conference will occur, at which it would also be possible to •consider general economic problems, fix guarantees and reach a conclusive settlement of the entire situation, which is considered the cause of the European economic chaos. BERLIN, June 7. Dr. Rosenberg, addressing newspaper representatives, said a sympathetic answer to the last Note came from Japan, whence it was least expected. As Germany was in such a piteous condition she could not afford the telegraphic Fees to Tokio and the Japanese Emftassy sent- the new Note at its own expense. LONDON, June 8. The Morning Post says the German offer is a great improvement on its predecessor. The paper adds: "We regard the Note as a possible basis for discussion by the whole of the Allies, j Such a reunion is highly desirable, and ! indeed a necessity." The Daily Chronicle says: "The offer conforms, to the British requirements. What is needed is a new conference between the Allies and Germany." \ The Daily Express declares: "The' crux of the business is still the total amount to be paid. There is no advance on the offer of £1.500,000,000, which is inadequate." j Westminster Gazette says a piecemeal payment will not satisfy the Allies. I In reply to a question in the House of Commons, Mr. Baldwin said he was not in communication with the French, Belgian, German or American Governments with a view to discussing reparations or the Ruhr situation. He realised that the mark was now lower than the Austrian kroner was when the lieague of Nations took over the control *>f Austria's finances. Commander Kenworthy asked: "Are we to understand the Government is quiescent and is doing nothing?" Mr. Baldwin : "No, the member will see soon.' 5 The Daily Express understands it is not improbable that the British attitude towards Germany will become less conciliatory if passive resistance in the Huhr continues, particularly since Germany has repeatedly disregarded the friendly advice of this country in the course of negotiations.