Firm Basis For Action

Manawatu Times, Volume LV, Issue 6746, 2 January 1932, Page 7

Firm Basis For Action

Basle Report SteppingStone to Prosperity

GERMANY’S PROBLEM WORLD-WIDE ONE

British Official Wireless. Eeceivod Friday, 7.5 p.m. RUGBY, Dec. 31.

The opinion generally expressed in London is that unanimity upon the essential facts which experts reached at Basle in their report upon the financial condition of Germany, should provide a firm basis for co-operative action When next-month’s Reparation Conference assembles. The report, it is felt, has done much to convince nations that the problem is not merely one of Germany’s finance but that it has a vital bearing upon the prosperity of almost every c'ountry in the world. There is littlo doubt that British public opinion would certainly welcome a complete drastic clcaring-up of tho situation by wholesale cancellation of debts, but it is recognised that without tho active consent of United States, which is barred by tho Ycccnt decisions of Congress, this must, remain outside tho range of practical politics. Although tho time may, therefore, not be ripo- for the complete liquidation of inter-Governmental liabilities, it is held that the forthcoming confcrenco will yet have written its power of tho restoration of a measure of confidence which is so badly needed and may well achieve something more than a mere interim solution.

Tho Times says: “Wliat is noeded is a settlement which, even if it cannot be regarded as final, will at least bring European Powers a long step nearer to stability. Such settlement implies at least two conditions —an adequate moratorium and tho scaling down of Germany’s further liabilities to a figure which will leave no doubt as to Iffir capacity to pay without creating too much disturbance to : her exchanges. Without these essential safeguards, it will scarcely be possible to envisage any Tcturn of confidence to Germany, either now or in future. Once that is accomplished, the whole problem of reparations may come to be viewed in a different perspective on the other side of tho Atlantic. It must in time become clear to all the world that the capacity of other debtor countries to meet obligations rests in the last resort upon the stability of Germany to provide them with means of payment,”

WORLD MESSAGE FROM FRANCE—

Received Friday, 7 p.m. PARIS, Dec. 31

M. Doumer, N a New Year message to the world given at the annual reception of tho diplomatic corps at Llysee, said that in face of the economic crisis, Franco hoped to convince nations ot over-growing solidarity of interests which may lead to a policy of mutual aid permitting a brighter future. France was loyal to her traditions and ready now as always to co-opcrate actively in measures calculated to mitigate the evils afflicting humanity. Her co-opera-tion had no limits beyond the legitimate care of her own stability and guarantee that sacrifices would not imperil the equilibrium which was a precious pledge of peace. —AND GERMANY. Received Friday, 7.10 p.m. BERLIN, Dec. 31. Hindenburg, speaking into a microphone on his desk at the Palace, broadcast throughout Germany and rebroadeast in English through America and Britain, said sincercst gratitude and highest acknowledgment was duo to the Germans for readiness to sacrifice and the patience with which they had borne privations and burdens, the greatness of which justifies tho demand that foreigners should not obstruct Germany’s recovery by asking impossible things. Regarding disarmament, the Germans claim to equal security is indisputable. Ho implored the Germans to show the same energy as won Tannenberg. Let us march hand in hand into the future holding a high, unshalccablo belief in the Fatherland. God more than once saved Germany when in the deepest distress. He will not desert us now. The band thereafter played “Dcutchland Über Alies;” .It was announced in Gcrn/iny that tho President’s speech was heard' in Australia.