VAGUE AND VAIN

Northern Advocate, 20 August 1929, Page 5

VAGUE AND VAIN

FOUR POWERS’ MEMORANDUM

YOUNG PLAN ALLOCATIONS.

BRITISH RIGHTS ASSERTED

(British Official Wireless,) (Received 3 p.m.) RUGBY, August 18,

The British delegation’s reply to the inadequate proposals of the four creditor Bowers consisted of a covering letter and a memorandum. The former suggests that if the conference is to succeed a further and more serious effort must be made to moot the British position and that the note from the -other Powers -only repeats, in a vague- manner, the suggestions already discussed and rejected by the British -delegation -as quite inadequate.

The British delegation claims no unfair advantage, but is -simply asking for the rights to which it is entitled under the existing arrangements. Great Britain must recover either by annuities or capital the sum of £2,400,000 a year, which she loses under the Young Plan proposals, as well as a share in the unconditional annuities approximating to her due to the percentage if not equivalent to it.

The memorandum deals seriatim with the arguments and proposals put forward in the note of the four Powers. It states that the British Government cannot agree that the work of the experts must be dealt with as a whole and cannot be rediscussed. The experts were independent and did not bind their Governments, and this was recognised .by the British and French Governments before their appointments and during their meetings.

The British Government has no desire to alter the fundamental part of the Young Plan and .will accept it as regards payments to be made by Germany, which was the main point on which the experts' advice was asked. All that the British Government desires is to bring the distribution , of the whole annuities and the unconditional part of it into conformity with existing agreements, which are binding upon the Governments who signed them.

The Young Plan does not, as suggested by the other Powers, offer to Great Britain advantages which compensate for her sacrifices under it. The Italian Government had claimed and obtained a settlement of their war debt to Groat Britain on unpreecdehtly favourable terms under the, plea, that they were entitled to a comparatively small share of reparations. Yet it was now proposed that Italy's share in the German annuity should be increaset! at the expense of Great Britain, not for the purpose of covering her debt liabilities, but in order to provide her with a substantial surplus over and above the full war debt cover.

The new proposals for deliveries in kind, which are vague and indefinite, are less favourable to Great Britain than the Versailles Treaty, and in any ease would not compensate Great .'Britain for her other financial sacrifices. Mr Snowden's attitude continues U receive the wholehearted support of the British Press.

The “Observer” says: “Certain imnimum rights were secured to this country at Spa and 1 in reliance upon them Groat Britain has settled with her 'debtors on terms of unparalleled generosity. The country is behind Mr Snowden in hi!s refusal to have 'them whittled away.” The “Sunday Times” says: “Throughout the war ami ever since, Great Britain has been making heavy sacrifices to help her Allies and neighbours, and it is high time that they began to show some consideration for us. The extra. £2,000,000 that is in dispute could well be found by those countrios that have had hundreds of millions from us since 1914. Our European friends should realise that this (country is in earnest and means to have the Young Plan revised.”

IMPROVED OFFER.

THREE SPECIFIC SECTIONS.

STILL FAB SHORT,

(Australian Press Association.) (Received 8.2 a..m.) LONDON, August 19,

Details show that the four-Power week-end offer to Britain included the following:— ’(1) An additional capital sum of £5,000,000 out of the Dawes annuity for the period between the Dawes and the Young plans. Mr Snowden admits that, this reduces Britain's claim from £2,400,000 to £2,100,000 annuallv.

(2) An additional capital sum ; estimated at £10,000,000 out of the Dawes payments. This is only equal to one quarter of Britain's demands. (3) An increased share of the unconditional annuity arising from the services of the Dawes loan equal to £1,5?.3,000, whereas Mr Snowden claims that Britain is entitled to an unconditional annuity of £6,000,000. It is now expected that the conferemv will last till the end of this week.

“IRON CHANCELLOR.”

GERMAN PRESS COMPLIMENT.

(Australian Press Association.) (Received 8.32 a.m.) BERLIN, August 19. The Press is sanguine that the bulk of Mr Snowden's claims (will be ultimately conceded. The “ Morgenpost ” honours him with the title of “Iron Chancellor,” previously reserved for Bismarck. It emphasises that he is acting not as a Labourite, but as an Englishman from first to last.

ESTIMATING THE VALUE.

ARBITRAL SUGGESTION.

’ (United Service.) (Received 1.30 p.m.) THE HAGUE, August 19,

The Committee of Treasury Experts, on which Britain is represented, is endeavouring to draft a joint report sotting out the advantage derivable by Britain from the Young Plan and ostimating the value of the concessions to ■Britain made (by the four powers. In the event of there being no agreement the four Powers are likely to propose neutral arbitration, with Mr Owen Young or Mr Pierpont Morgan as arbitrator.

RHINELAND WITHDRAWAL.

EARLY MOVE BY BRITAIN,

FRANCE RETAINS HOLD.

(Australian Press Association.! (Received 1.33 p.m.) THE HAGUE, August 19.

Mr Arthur Henderson, British Foreign Minister, at a meeting with M. Briand, Dr. iStresemann and M. Hymans, stated that Britain would start moving troops from the area of occupation during September. It is expected that the French will continue their policy of procrastination until the financial results of the conference are known, the French standpoint being that evacuation must await a full settlement of reparations and mobilisation of German payments.