GERMANY’S DEBT

New Zealand Times, Volume L, Issue 11663, 30 October 1923, Page 5

GERMANY’S DEBT

CONFERENCE OF ALLIES

FRANCE AGREES. PROVIDED TREATY IS UPHELD.

“LIMIT OF CONCESSION.'’

By Telecrnpfc.—Pres*; Aran.— Copyright

KcutA’s Telegram.

(Received OeiojK'r 7.-50 p.nO

PARIS/ Octot!

M. Poincare, in u speech at Chnirpignv, declared that Fiance lvould not agree to a rrduction of tlie (-erman ddht, fixed in May, 19*21. U Herring ijo .Mr Bahhvin’h speech, he agreed to Ihc declaration of the importance of an intcr-Allied settlement on repara turns rpiefctiou.s, and tin* advance of tho ep-oi)eration of the United State* therein. He would uecept the ap* pointmont by the Reparation.' Coinmi<sf>iou of a committee of experts to examine ” Gcrman.x \s capacity of payment, the reform of German finances, and rt e;;iuiretie 'reparations sc-honn*. provided the n-mceelure icmainod within the tony center?: of the Treaty. But Franco would never ag!ee to the Reparations Cow mission be-ins divested of iu functions or replaced, hy an organisation in which France’s .'hare of influence, already inferior to France's shaic oi interest, should be further reduced. “The limit of our concessions has been attained.” declared M. Poincare. “We twill not go farther.”

CAltKlTk THOUGHT

Tlio Paris •c.orre.spondent of “Tire Tunes” says there is evidence that France is thinking once, twice, and thrice hefon? refusing tp parti' ipaUi in tJ*o confiprence to examine Oermany s capacity tu pay.

Outlining the official view, he say* that the French Government simply desires to remain within the framework of the Treaty of Versailles. under which it is open to the Reparation* Commission to appoint a committee cf investigation If such a committee is appointed, Franco will welcome America .1 representatives.

GRAVE RESPONSIBILITY

The French Government, however, does npt admit that this attitude n> equivalent to the rejection of Mr Baldwin’s proposal. It would ho an exceedingly grave responsibility that Franco was undertaking fu defeating the. British project, but it is felt here that it would bo incurring an equally grave responsibility for the Government to jeopardise the complete surrender of Germany. Any encouragement to Germany would, say the French, only load to further evasions, and it is certain that France, tired of the negative results of previous plenary conferences, deprecates the method. BRITAIN DISAPPOINTED CONFERENCE* HANDICAITED. (Sydney "Sun” Cable.) (Received October 29, 9.25 p.m.) LONDON, October 28. The “Daily Mail” rays the Govern, ment is handicapped with tire French insistence that the suggested conference must consist of a < ommittee of experts uudev the Reparations Commission, and also by France’s refusal to consider any reduction of the reparations debt below the extent of 6600 millions fixed in 1921, which is now regarded as beyond Germany’s capacity- The conference's work under this restriction would consist of advising when the payment* -should begin, and the annual amount of instalments. It is expected that the Government will endeavour to secure France’s cooperation on broader lines, serious obstacle Ftt A X CE ' S Imp rLA T lON. AuptraßnT) wort X 7 Cable Association(Received October 29, 7.50 p.m.) LONDON. October 28. The “Daily Telegraph’s’' diplomatic correspondent says that both the Cabinet and the Imperial Conference will discuss the Allies’ replies to Lard Ourzon’s Note early this week. The British and Dominion statesmen regard it as tho most serious obstacle to the proposed committee of inquiry, France’s restriction not allowing such committee to fix Germany’s total indebtedness. DISCORD AMERICA BITTER FIGHT EXPECTED. ON Ml! HUGHES’S ACTION. Australian and N S Cfible Affectation (Received October 29, 10.25 p.m.) NEW YORK, October 28. The “New York World’s” Washington correspondent says, that distinct Congressional opposition. especially from irate ‘•irreconcilables.” must be expected to Mr Hughes’s acceptance of the French reservations on the plan for a reparations settlement, by which the committee of experts becomes an atljuuct of the Reparation!® Commission and the ’Treaty of Versailles. The ‘‘irreconcilable” senators, whom tho correspondent interviewed, declared that a hitter revival of the fight over tho Treaty of Versailles will occur immediately Congress is convened in December. Tho objectors state that since France controls the Reparations Commission no independent findings can be expected, and Mr Hughes's original proposal is effectively nullified by the French action.

High Government officials, meantime, in?ist upon France’s good faith, and state that the. French reservations do not mean nullification. They indicate that the experts’ committee is only concerned with Germany's capacity to pay, and once this is determined it will have a moral influence upon M. Poincare’s distum that the committee must not reduce the total of reparations.