HUGE BOND ISSUE TO LIQUIDATE WAR DEBT

Manawatu Times, Volume LIV, Issue 6810, 14 January 1929, Page 7

HUGE BOND ISSUE TO LIQUIDATE WAR DEBT

America Disapproves NOT NEGOTIABLE IN UNITED STATES DEAL TOO LARGE. United Press Association —By Electric Telegraph —Copyright. Received Sunday 7.0 p.m. WASHINGTON, Jan. 12. The United States will not approve of the floatation on the American market of a huge bond issue by Germany and the former Allies, who are considering the liquidation of Germany’s war obligations. The Slate and Treasury departments announced this at the same time. It is unofficially announced that Mr Owen D. Young has accepted an invitation to become one of the unofficial American experts on the committee planning to undertake r. revision of tho Dawes plan. The announcement followed conferences with President Coolidge and Mr F. B. Kellogg to-day. The Treasury department also announced that such bonds as those mentioned above rvill not be accepted in payment of French, British, Italian and Belgian debts to the United States. It assumed that tho decision w'ill ho announced to Germany and the Allies by Mr Young. American bankers arc reported to be as unwilling as tho government to float German bonds in this country in any such quantity as -would be involved by the projected scheme for commercialising the German debt. Poincare Receives Vote of Confidence REPARATIONS GREATEST WORRY Received Sunday 7.0 p.m. PARIS, Jan. 12. M Poincare, in a speech defending his policy, referred to reparations. If justico were not accorded to France, she would return to the Dawes plan, but if the experts reached a decision in accordance with her views, they would be able to contemplate the problem of inter-Allied debts in a new aspect. Much would be done for the peace and prosperity of the nations if the reparations could be settled. It was this consideration which prevented him from being tempted to take a rest, but the government, in order to succeed, must be assured of its existence. A vote of confidence in M. Poincare was- carried by 325 votes to 251.