THE REPARATIONS.

Manawatu Times, Volume XLVI, Issue 2003, 20 December 1921, Page 5

THE REPARATIONS.

GERMAN MONEY ABROAD. AN EMBARGO DEFEATED. PROFITS FROM STATE SUBSIDIES [By Electric Cable —Copyright] [Aust. and N.Z. Cable Association.]* LONDON, December 17. A correspondent, in a. letter to the "Times,” says it should not cause surprise that Germany says she is unable to pay. It is well known that Germans hold vast balances abroad; but the British Government, in October, 1920, voluntarily agreed that German post-war balances would be immune from seizure in the event of Germany’s voluntary liquidation. It is true that the German Government forbade the export of capital, but traders defeated this embargo by banking the proceeds of (heir sales abroad. The correspondent concludes by saying "Germany has fooled the Allies.” The “Daily Mail” says Germany has been paying heavy subsidies to keep food prices and railway rates low, and so enabling the German workmen and trader to undercut the British. Germany needs only to levy upon the foreign investments of the German millionaires who have profited by these subsidies.