NO QUESTION THAT GERMANY CAN PAY

Manawatu Times, Volume LIV, Issue 6802, 4 January 1929, Page 7

NO QUESTION THAT GERMANY CAN PAY

Says Parker Gilbert CHORUS OF RESENTFUL CRITICISM BY GERMANS United Pres* Association —By Electric Telegraph—Copyright. BERLIN, Jan. 2. A chorus of resentful criticism appears in the Press of all parties concerning the report of Mr. Parker Gilbert, Agent-General for Reparations, which is described as unjustifiedly optimistic, and giving a false impression. Mr. Gilbert declares that there is no question, in the light of practical experience, concerning the ability of Germany to provide the full amount of its standard contribution under tho Dawes Plan. He stresses the great productivity of the revenues, and urges Germany to* spend less on herself. "The time is approaching," he declares, "when more vigorous measures must bo taken to keep Germany's expenditure within the limits of the available revenues. Undoubtedly there are reserve forces of taxation still available to wihch recourse could be had if necessary." Mr. Parker concludes by advocating the definite fixing of the reparations obligations, on the ground that it would remove the element of uncertainty from the economic life of all the countries interested. An official connected with the Foreign Office expressed the opinion that the report would be accepted as true by the reparations experts, and Would thus ruin Germany’s chances of obtaining, a reduction in the reparations. Mr. Gilbert had ignored the fact that the Dawes Plan had worked smoothly only because Germany had borrowed abroad, thus increasingly mortgaging the national wealth. Mr. Gilbert likewise had ignored the fact that the plan rested on Germany's maintaining a surplus of exports over imports, yet there was at present an estimated adverse balance of £125,000,001. French Comment NO EXCUSE FOR GERMAN DEFAULT. Received Thursday 11.10 p.m. LONDON, Jan. 2. The "Times” Paris correspondent states that France generally regards Mr Parker Gilbert's review of Germany’s financial and economic conditions as satisfactory "Le Temps’’ considers the report shows Germany is well able to pay the annuities laid down' in 1924, and says there is absolutely no reason why Germany should not fulfil her obligations, It is proved that the Dawes plan fully took account of Germany’s capacity to pay and there will be no excuse if Germany does not complete her part of the plan The journal "Des Debats” is less optimistic and urges Germany, if sho desires tho liquidation of her war burdens, to take Mr Gilbert’s report as a basis of the expert committee’s labours. If she does so ,the experts work will soon finish; but the recent speeches of President Hinderburg and Herr Muller cause France to doubt Germany’s good faith towards hor creditors.

1,300,000 Idle in Germany DECEMBER INCREASE OF 26 PER CENT. Received Thursday, 11.35 p.m. BERLIN, Jan. 3. The roll of unemployed increased by 26 per cent, during December. The total throughout Germany is 1,300,000. Should We Tax Ourselves to Help Germany? POST’S EMPHATIC NEGATIVE. Australian Press Association. Received Thursday, 11-25 p.m. LONDON, Jan. 3. The Morning Post, which outspokenly asks "Why is British industry so depressed?” says "Wo are obliged to support more than 1,000,000 unemployed. It is largely because the workers are staggering under-a load of taxation, constituting an overhead charge whieh has gravely injured Britain as a competing country in tho markets ot the world. It anav be disagreeable to hn e to say so, but that taxation mainly represents what we had to pay in ordor to save ourselves from destruction by Germany." The paper adds it is foolish to ignore fundamental facte while the British back is almost cracking under the load. It is unfair to ask us to accept the German postulate that there should bo no payment in any way injuring the German standard of living, or hampering her industrial expansion. Lord Revclstoko and Sir Josiah Stamp will be proof against the suggestion made even in British newspapers that the taxpayer should bear a little more in order that Germany should bear a little less.

The Financial News says there is no need for a prophet to foretell that reparations -will be the chief international topic in 1929. Mr Parker’s final question is the reconciliation of conflicting ideas with justice and the real problem to bring the experts’ plan within the range of principlo common to all.

The Daily Express says: "Tho year 1929 must see the complete withdrawal of British troops from tho Rhineland. We have been more like pettifogging attorneys, afraid of France, than Brtish statesmen, confident that what is right must bo best."