A HARD BARGAIN

New Zealand Times, Volume LII, Issue 12038, 16 January 1925, Page 5

A HARD BARGAIN

AMERICAN’S OPINION. FRANCE MAKES SACRIFICE. Australian and N.Z. Cable Association. (Received January 15, 8.55 p.m.) ’ ■ : ; LONDON, January .15. ' The “Daily Telegraph’s” Paris correspondent points out that the real qieaning concealed behind the intricate details of the Allied financial settlement is that the United States no longer Is a mere observer, but a direct participant in German reparations. : . . ' The Dawes plan consolidated German reparation payments into a single annual payment. The / Paris agreement wipes out past wrangles over the allocation of reparation receipts among the Allies. « ; It supersedes all previous schemes for the division - of reparations, ■and lays' down clear rules for future allocations. / ■ . r £33,000,000 YIELD. f All differences concerning interpretation of the new agreement will be settled by arbitration. -Conipatent persons calculate that the first Dawes annuity after i the-deduction of first charges for the cost of occupation, etc.; should yield £33,000,000 to the Allies. France’s and Britain/s percentages of this, l-as fixed at th© Spa Conference; will bo slightly reduced in consequence of payments to Jhe United States.' “Jje Temps” says that while some of the decisions will lje criticised on the ground of the sacrifices which France is asked to. mako, it considers that the conference has been marked by moral progress in Allied negotiations, and specially emphasises Mr Winston Churchill’s services a_s indicating the new spirit in which Britain is considering the problems of peace and the necessity for the consolidation of the Entente. WIN FOR UNITED STATES.. Other newspapers praise Mr Churchill’s conciliatory conduct of the British case, Thpugh an American delegate, speaking at the end of the' conference, said that Mr Churchill droffe' a very hard bargain. The “Journal - des Debats” considers that the United States won all along the line, since it will share the reparations, although it lia® not signed i the Versailles Treaty. ' The paper hopes that how the United

States will help the Allies,-to see that the Dawes plan is carried out. The “Morning Poat’s” Paris correspondent says that M. Clementel has written Mr Churchill on the subject of the Allied: debts.: seeking written assurance that Britain adheres to the principle of the Balfour Note. •

v It is understood that Mr CliUTchill’s replv, which probably will be published in London and-Paris-to-day, will eon; firm the country's adherence to the Balfour Note. \ v