AMAZING ERROR

Northern Advocate, 22 August 1929, Page 5

AMAZING ERROR

YOUNG PLAN COMPILATION PRANCE ALLOTTED TOO MUCH. BELATED DISCLOSURE. (Australian Press Association.T (Received 9.14 a.m.) LONDON, August 21. The, “Daily Telegraph” today publishes the remarkable announcement from its diplomatic correspondent that an amazing clerical error was made in the preparation of the Young Plan. The paper says it arose in the following manner. —

The first 37 annuities allotted to France were added up and then divided for the purpose of working out the average of the French annuity. The latter, in a table annexed to the Young report, is given as 1,04(5,500,000 gold marks (£52,325,000), which is under the estimate of its real value by nearly 100,000,000 gold marks, or nearly £0,000,000.

On this basis France’s share of the Young annuity will be not her Spa percentage of 02 or even the 1925 Paris percentage, which was 04, but a percentage in the neighbourhood of 57. It is not explained how the experts or the calculating machine made such n mistake, but discovery of the error is of great moment, as the excess of 5 per cent, allotted to France over and above what the Young Committee intended should enable her to restore something like fair quotas fo Britain and some of the smaller Powers. The Australian Press Association adds: “This is the first public reference to such error. Whether such an extraordinary happening could have gone unnoticed until the present is at least doubtful. The full significance of the error, if it is an error, can only be ascertained when the experts’ report comes down.”

VALUE OF CONCESSIONS. EXPERTS NONPLUSSED. OANNOT 'ANSWER QUESTIONS, (Australian Press Assn.'—United Service.) (Received 10 a.m.) LONDON, August 21. It is authoritatively announced in, British circles at The Hague that the experts report that it is impossible to reply to the questions submitted to them, as they have found it impossible to agree .regarding the value of, the concessions offered to Britain by the four Powers, and a. hundred and ohe : other factors upon which the allocations are dependent, Consequently the Ministers themselves must grapple with the problem.

NO JOT OR . TITTLE. ITALY WILL NOT YIELD. (Australian Press Association.) (Received 10 a.m.) THE HAGUE, August 21. Signor Pirelli visited Mr Snowden and told him that Italy was unable to yield any part of her share of the reparations payments.

THE INTERNATIONAL BANK.

■■ LONDON LOCATION . BEST,

DISSOCIATION EROM POLITICS,

(Australian Press Assn.—United Service.) (Received 11.19 a.m.) NEW YORK, August 21.

“The London money market wants the proposed International IBank to be located in London, owing -to -doubts whether it would otherwise be allow od to operate without constant political pressure,” Professor T. E. Greg ory, Ihe London banking and economic expert, told the Institute -of Polities at Williamstown (Massachusetts) today.

“Pre-war experience shows that in Paris the issue of an international loan is frequently made subordinate to French foreign policy. London does not ■■want the working of the now bank to be exposed to similar dangers,” he declared.

The proposed International Bank would ho concerned primarily with reparations and with more general banking problems.