ALLIES AND GERMANY.

New Zealand Herald, Volume LXVI, Issue 20263, 24 May 1929, Page 11

ALLIES AND GERMANY.

NEW TERMS PRESENTED.

REPARATION AND DEBT.

COMPENSATION TO BELGIUM.

SCALE OF THE ANNUITIES. Australian Press Association—United Service (Received May 23. 8.35 p.m.) PARIS. May 22. The reparation memorandum handed to Dr. Schacht (Germany) on behalf of the creditor Powers says they are prepared to accept the following terms: (1) An average annuity of £102,500.000 for reparation debts in the first 27 years as from April 1, 1929. (2) Tho payment of 20 annuities of £85,000,000 and one further annuity of £45,000,000 for war debts only. (3) The payment of annuities of £1,250,000 for 10 years to Belgium as indemnity for the depreciation of tho marks issued during the German occupation. (4) The countries benefiting by the proposed International Bank, particularly Germany, to contribute sums for its working as well as the capital. The proposals arc more elastic than Mr. Owen D. Young (United States) suggested. There will be a constant increase of £1,250,000 a year, allowing for certain variations in the annuities. The scheme provides for a complete cover for the Allied debts to America. Tho German delegation immediately started work on the scheme from their point of view, the submission of the text being only a stage in the negotiations. It appears, however, that the creditor Powors have gono to the limit of conciliation. GERMAN DELEGATE. RESIGNATION ANNOUNCED. REFUSES TO SIGN AGREEMENT. Australian Press Association —United Service (Received May 23, 11.55 p.m.) BERLIN. May 23. A message from Berlin says it is learned there that Dr. Albert Vogler, president of the Ruhr Steel Trust, has resigned from the German delegation on the ground that tho prolongation of the payments is intolerable and that he would refuse to sign the agreement. The German Cabinet will inform the committee later of its intentions. OPTIMISM IN BERLIN. EARLY SUCCESS EXPECTED. LONDON CONFERENCE LATER. Australian and N.Z. Press Association. (Received May 23, 7.55 p.m.) LONDON. May 23. Reports from Berlin state that the German Government confidently expects a successful termination of the conference of the Committee of Experts on Reparation before the end of May. They expect it to be followed by a conference in London in August, at which a final reparation pact will be signed. At the same conference the Germans believe a political agreement will also be signed providing for the immediate return of tile occupied territory, in the Rhineland and an accelerated return of the Sarre Basin area.