CHIEF CREDITOR

Northern Advocate, 1 December 1921, Page 5

CHIEF CREDITOR

BLANK FRENCH REFUSAL.

TO ACCORD MORATORIUM.

PERTINENT ARGUMENT.

(Received 10.40 a.m.)

LONDON, Nov. 29,

The Paris correspondent of the • 'Times" reports "that ,sb far France refuses absolutely to consider the hypothecs for postponement of the reparations and will persist in refusal unless it can be clearly shown that the international crcdit operations will give the creditors the full equivalent for what the suspension of payments itakes from them. The French point out that ithey are the largest creditors and deserve some consideration. If payment of the instalments due will increase the deficit iu the German Budget, non-payment will make wider the gulf which it was meant that such payment .should bridge in the French Budget.—Times.

HEAVY DEFICIT,

AX INEVITABLE RESULT,

(Received 10.45 a.m.) LONDON, Nov. 30. The "Dnily Mail" in a leading arti-

cle says' that postponement of the German reparation instalments will cause a heavy deficit in the British Budget. Modifications may result in benefit to British trade, bu>t experts must decide whether (the taxpayers' loss in one direction will be made up by increased

revenue receipts in another.

The "Pall Mall Gazette," usually regarded as representing the Prime Minister's - viewpoint, states 'that Mr Lloyd George is preparing to take the lead in proposing a new financial policy, including entire revision of the reparations provisions of the Treaty of Versailles in order to re-establish the world's markets, including 'that of Germany. He hopes when at Washington to take up the whoje question of world indebtedness. —United 'Service.

BRITAIN BLAMED

THE SOLE CULPRIT

(Received 11 a.m.) PARIS, Nov. 30,

The newspaper "Eclair" blames British policy for ithe anarchy in Eastern Russia, ithc disorder in Central Europe and Germany's resistance to the Allies* demands. The paper says: "It is high time that the British people were made to see that itheir interests are identical with those of France and the grave danger of the present trend of affairs ending in world-wide Bolshevism. '' The "L'Oeuvre" comments severely on what it describes as a financial ultimatum from Britain to France. —A. and N.Z.