SIDE ISSUE

Northern Advocate, 2 December 1921, Page 5

SIDE ISSUE

REPARATIONS MORATORIUM.

WIDER APPEAL PRESENTED.

PAYMENT SUBSTITUTES,

(Received 9.40 a.m.)

LONDON, Dec. 1,

It is understood that Herr Rathenau took striking proposals to London. It is presumed that he was-fcngaged in frankly urging the British Government to drop definitely all demands for reparation payments in money or kind and to agree rather to consider schemes which would advance British economic interests, thus achieving what the payments would do.

The scheme doubtless includes in the first place the Anglo-German exploitation of Russia and secondly the utilisation of German labour and mechanical skill in overseas colonial enterprises. The moratorium question is regarded as a side issue in the negotiations.—A. and N.Z.

ALL ASPECTS CONSIDERED,

BRITISH NOTE TO FRANCE,

LONDON, Nov. 30,

The Bxitish Government is closely considering every aspect of the German reparation question. A recent British Note to France points out that Britain cannot expect to ratify other outstanding financial agreements unless France ratifies the agreement of August ]3,*whieh laid down that the reparation instalment of 1,000,000,000 gold marks (£30,000,000) paid by Germany on August 31 should be devoted, firs', ly, rto paying the costs of the ariny of occupation, and secondly to satisfying the priority claims of Belgium.

The Note asks how France intends to safe-guard the interests of Germany's other creditors if .the Wiesbaden agreement be enforced. It is believed in this connection that Dr. Rathonau's visit to London is not unconnected with submission to Britain of proposals similar to those contained in the Wiesbaden agreement.—Reuter.

DEEMED IMPOSSIBLE

IN PRESENT FORM.

LONDON, Nov. 30,

Sir George Paish, editor of the "Statist" and an authority on international finance, speaking ait. the National Liberal Olub, said that the present reparation scheme wa.s impossible. He suggested that the League of Nations should summon a world's conference of bankers and financial experts. He declared that statesmen ihad 'been afraid to admit how they had misled the people into imagining that unlimited sums could be drawn, from Germany. Britishers now realised that this wias impossible, but unfortunately France was still living in a fool's paradise.

Germany could not even make the reduced payments fixed at Spa. if owing to non-payunent the Allies occupied the Ruhv Valley, seized Germany's Cu3tons, and controlled her finances it wo.uld lead 'to the destruction not only of Germany, but of and <the wihc> world. Germany 'could not make any payment till Europe "vvais restored, and then could make moderate payments. Formerly he believed that she coul'. not pay more than fifty million sterling yearly; now he believed she could pay a hundred millions, whicih, reasonably capitalised, would provide France with a thousand millions, which was adequate to restore the devastations, but this entailed restoration of Germany's markets and iher Te-fidmis-sion to the society of nations.—A. and N.Z.

LACK OF PERCEPTION

AMERICAN GUARANTEE QESTION-

(Received 2 p.m.)

PARIS, Dec. 3.

The "Petit Parisien's" Washington correspondent says: "Apparently Mr Lloyd George persists in expecting that America will enter into a convention guaranteeing France against attack. There is nothing more curious tha i some influential Englishmen's blindness."—A. and N. Z. The following cable 'message bearing on the subject was.reccivod .froim London on November 21: —

Herr Hugo Stinnes, the German tinarcicr, has arrived in London, attended by h considerable syite. He attempted to avoid interviews with journalists. The "Sunday JExpress" alleges that he has come to attempt a deal in connection with aniline dyes with the Government. He refused to talk to reporters with reference to his scheme 'to assist the payment of Germany's reparation by means of foreign credits. A Downing Street official, in oai interview. denied the truth of a Berlin statement that Herr Stinnes was invited to London by Mr Lloyd George, who, said 'the official, is not likely to .meet him. The Central News Agency is informed that the purpose of Herr Stinnes' visit is to reorganise several con-

cerns which he controls, and to create new businesses. He has met many commercial men who formerly were didirectors of his companies. In Berlin i't is stated that Herr 'Stinnes is visiting Britain to ascertain, firstly, ' t'he amount the British banks are prepared to lend Germany to enable 'her to pay reparations, on the .security of German industries; and, secondly, if British banks and merchants are prepared to join in a combined Anglo-German exploitation of Russia. He is also authorised to offer Britain closer economic relations with Germany.