BRITISH PROPOSAL

New Zealand Times, Volume L, Issue 11438, 7 February 1923, Page 5

BRITISH PROPOSAL

FINANCIAL COMMISSION TO DICTATE TO GERMANY. AND A MORATORIUM. Australian and N.Z. Cable Association. (Received February 6, 7.20 p.m.) LONDON, February o. Sir Philip Llovd-Graeme, in a speech at Stoke-on-Trent, said the Government’s first consideration regarding the Ruhr war to secure a final settlement. If Germany was to pay even interest on her debts it was essential that her credit should be restored. Secondly, there should be a moratorium, and stabilisation of the mark. There was nothing further from the truth than that the whole matter was to he left to Germany’s discretion.'The British proposals held out a strong prospect of the trade revival 'rhwh was so necessary to Germany. The British proposal was to create in Germany a strong financial commission which would dictate to Germany necessary conditions. PUNITIVE MEASURES. If Germany failed to obey the com mission’s instructions, or to pay its demands, most stringent punitive measures would be taken, either hy territorial occupation or the collection of revenues. Regarding the French action, the onlv hope was that the effects might be localised, and that the mutual re» lations between Britain and France would be affected as little as possible.