A POOLED WAR CHEST

New Zealand Times, Volume LIII, Issue 12622, 6 December 1926, Page 7

A POOLED WAR CHEST

FINNISH PROPOSAL FOR LEAGUE GREAT STATES TO FINANCE SMALL SHARP CRITICISM IN LONDON Australian and N.Z. Cable Assn. By Tel.—Press Assn.—Copyright. (Received December 5, 5.5 p.m.) LONDON, December 4. Among the foremost questions to come before the League Council at Geneva next week will be the Finnish proposal for an international war chest to be placed at the disposal of any nation threatened by war. The tentative suggestion is that Britain and the other great Powers, in the event of any member of the League becoming a victim of aggression, undertake to provide nil immediate loan up to, say, 50 millions to eacli Tower promising to find 10 millions. Each Government would guarantee tho share raised by its bankers. According to the Finnish proposal this would avoid the necessity of esposed States, such as those along the Russian frontier, maintaining heavy armaments and munition factories. The League Council’s sub-committee yesterday decided to instruct its financial committee to examine the

Finnish proposal and all analogous measures. The Fnnish representative thanked members for the interest shown in the question. The “Daily Tolegraph’s” diplomatic correspondent regards this proposal to supplement Article Six of the Covenant as amazing. “It means that the British taxpayer would be required to repay a loan from which only a foreign country or armament firms would benefit Bince we know from past experience that war loans made by Britain even to richest countries are not recoverable,” says the “Daily Telegraph.” “Once we start financing such operations we must go on. Finally the ?roposals will tend to make the smaler countries unreasonably sensitive and bellicose.” CECIL IS SATISFIED (Received December 5, 11.5 p.m.) Lord Robert Cecil in Geneva stated be was well satisfied with the result of tho Disarmament Sub-Committe’s deliberations. Possibly these would be a turning point in the League’s history. The League now was turning its attention to the prevention of war Instead of the provision for the punishment of the aggressor. “Under the projects we have ordered to bo prepared,” said Lord Cecil, “the League would be convoked immediately a threat of war was made, and it would remain in constant session, utilising every means to prevent war. Had it been possible in August, 1914, to summon such a council it is almost certain that the Great War woud have been prevented. We have also recommended measures which will enable the Council to use all the League’s, weapons for influence on behalf of the attacked nation in the event of war being actually started.”

HOW TO RECOVER IT? The "Sunday Express” diplomatic correspondent mentions as an astonishing fact that Mr Winston Churchill authorised the British representatives on tho League Finanoo Committee to consider the granting of war crdits up to 10 millions under the B'innish proposal, and adds: "Mr Churchill may argue that tho amount will be a real maximum, and that moreover it may never be required and will not be given in any case unless other Powers agree to make similar advances, but it is not clear how the money once given will be recovered and whence.