BERLIN MISSION.

New Zealand Herald, Volume LIX, Issue 18180, 28 August 1922, Page 7

BERLIN MISSION.

II; •'; BBTUEN TO PARIS. PROPOSALS BROUGHT BACK. I NEW GERMAN OFFER. ■-MINES AND FORESTS. UETtIRN FOR MORATORIUM. By Telegraph—Press Association—Copyright. (Received 4.5 p.m.) v *nd N.Z- PAEIS. Aug. 26. i sir John Br.idbu.-ry and M. Mauclcre Jave returned from Berlin with fresh propyls whereby tho German Government jrnarantoes to supply timber and coal to prance and Belgium if a moratorium is granted. The proposals are backed by leadine industrialists who undertake to fur- «/ nish deliveries, and by the coalminers, who agree lo an extra six hours a week to increase their output. Sir John Bradbury, in >an interview, wid: " I am satisfied that tho German Gorernmont is makinc great efforts to meet the views of tho French Government as far as the ,-ictual situation of Germany ,rill permit, and I am strongly of opinion that the French Government is doing its heat to meet the German Government halfway." Ar* official cennmunique issued in Berlin states that while the informal conversation? -between Sir John Bradbury and M. Jlauclere and the German Chancellor and Minister for Finance cannot be said to iave led to any positive result up to the present, various suggestions have been !■ made, and the delegates, who have returned to Paris, regard themselves in a -:''' position to advise the Reparation Commission regarding .the existing situation in Germany, which wats the primary object of their visit, also to advise upon the suggestions made. The Berlin correspondent of the Daily Express reports that Germany's last suggestion to Sir John Bradburv was that fflines and forests, in the occupied Rhineland bo placed under American supervision and control. .Apparently Herr Stinnes and other industrialists who conferred with the German Chancellor advised this plan, but the mission regards it unfavour- || ably. German official circles emphasise that there has been no rupture of the negotiations. The Berlin praa claims that Germany has done her best to arrive at an understanding, but she requires a long breathing space in order to overcome ths present crisis. The Vossisrhe Xeitung takes an optimistic view of the situation and declares that the German proposals, which Sir John •Bradbury has taken to submit to the Reparation Commission, would have been approved if the mission had had pienary power. || £ The prospects of a settlement of the reparation question had a steadying effect on the mark, which opened at 9000 to the pound to-day, and closed at 7550. , Yesterday German exchange touched 41#00 marks to the pound, but recovered in the afternoon, and closed at about > 7800. " Exchange on Paris is quoted at 68.70 francs to the pound, as against 57.55 on Thursday, and exchange on Rome at -. 1(8.50 lire to the pound, as against K».07 on Thursday. OF PANIC IN BERLIN. RUSH TO BUY GOODS. A. aid N.Z. LONDON, Aug. 2S. Hie German Exchange opened to-day at 10,000 marks to the pound. Apparently Germany has abandoned any hope I' of an early settlement with France, who persists in demanding satisfactory gaar- !?■ antees, with the result that there are ; genera! fears ithat France will take drastic action. There are rumours, at present : , unconfirmed, that French troops have invaded the Rohr. Meantime the proceedings of Sir John Bradbury's delegation are still kept secret, although it is denied that an offer of £2,590,000 was made in default of payments in kind. In this state of affairs _ there has been lao-ge and apparently panicky selling of marks, especially from ;. New York and Amsterdam, where huge amounts of marks are held by speculators. These sales loused a panic on the Berlin Bourse, and an even greater panic in the retail ftrade. Countless householders are besieging the shops, anxious to use the last few marks for buying something of practical valae, as shopkeepers increase prices 100 per cent, daily. Trade union 'leaders have requested the Chancellor. Dr. Wirth, to reintroduce the rationing of necessities, Government control of foreign trade, the prohibition of the sale of sweets, champagne, and luxuries, and restrictians in the manufacture of beer. Dr. Wirth repliisd that he would come to no agreement wtth Sir John Bradbury's delegation which would endanger the people's food supplies. He would increase , the duties on tobacco, coffee, and all luxuries, and proiiibit imports as far as Possible. The Government proposed an internal gold loan to raise urgently needed * funds. The German Federation of Trade Unions .'I has telegraphed to the British Trade Union Congress, stating that the collapse of the mark signifies the beginning of economic chaos, with incalculable consequences to Europe and the certainty of extending unemployment in Britain, adding," salvation is still possibly if you intervene immediately." .