NO WAGES-NO WORK

New Zealand Times, Volume L, Issue 11654, 19 October 1923, Page 6

NO WAGES-NO WORK

FRENCH NEGOTIATIONS FAIL. PARALYSIS IN RUHR. Vnbliefeftd 1n “Th» Time*.** LONDON, October 17. Tho Cologne correspondent of “The Tunes” says that, after all, General Dcgoutte’s negotiations with tho Ruhr industrialists nave come to nothing. A meeting of the leading industrialists, including Herr Stinnes, decided to inform tho French that as there is no present possibility oi raising money to pay wages, they are compelled to clcs* i the mines and works. This decision jv as taken after a revelation of Ger- | many’s financial straits on the autbori ity of the Imperial Finance Minister. GENERAL EXHAUSTION. The Minister announced that it was impossible to finance reparations in kind for France, or any reparations for any of the Allies. The financial chaos f.nd general exhaustion following the Ruhr struggle and the urgent necessity for feeding the population demanded drastic economies. Even advances to the armies of oocunation must probably cease. Accordingly the Imperial Oaoinet would shortly dispatch a Note to the Allies notifying the cessation, of all reparations until further notice. Thus it was obvious that Berlin' is unable to finance the I production of coal for reparations. NO ALTERNATIVE. Inquiries made at home and abroad have elicited that it is impossible to grant credit to assist the industries which are in the occupation of foreign troops. The last available credits for wages will be exhausted this week. Thus it appears that next week will see the hugje working population of the Ruhr unemployed. The industrialists say that this is not a matter of tactics. Tiler© is simply no alternative. FRESH NEGOTIATIONS WITH BERLIN’S CONSENT. Australian and N.Z. Cable Association. (Received October 18, 5.5 p.m.) LONDON. October 18. The “Daily Chronicle” correspondent in Berlin says that negotiations between the Ruhr industrialists and the French authorities have reopened at Dusseldorf, with the full knowledge and consent of the German Cabinet. The correspondent learns that the industrialists will undertake to resume ooal deliveries, though Berlin has notified its inability to compensate them. There is only' one solution. The industry must bear tho burden itself. The German Government will compensate industrialists ultimately, if developments are satisfactory. NOT BELGIUM’S AFFAIR GERMANY’S DIFFICULTIES. Reuter’s Telegram. (Received October 18, 10.25 p.m.) BRUSSELS, October 17. The Germjp Charge d’Affaires interviewed M. Jaspar, and explained the difficulty of paying the industrialists for the coal delivered to Belgium. M. Jaspar retorted that that was a matter for the German Government. The industrialists in Belgium did not intend to pay for it.