GENERAL ITEMS

Otago Daily Times, Issue 16600, 25 January 1916, Page 5

GENERAL ITEMS

GERMANY'S PEACE TERMS. MOEE ABSURDITIES. ZURICH, January 23. A private circular, embodying the basis of the discussion of peace terrrfe, has been distributed semi-ofiicially to German editors. It has also been published here. It proposes to demand a huge indemnity from England, besides the surrender of German South-west Africa, Rhodesia, Zanzibar, Somaliland, the UppeT Nile territories, and British East Africa; while Austria is to receive Malta, and Turkey is to get Cyprus. SHORTAGE OF TONNAGE. CANADA TO THE RESCUE. PROPOSED FLEET OF SAILING VESSELS. VANCOUVER, January 23. It is considered reasonably certain that the present shortage of tonnage. in the Pacific will not be of long duration. It is believed that the time is ripe for some form of official encouragement to shipowners. Powerful interests are contemplating the construction of a large fleet, and they are only awaiting an opportune moment 'to make a demand for large bonuses in view of the obvious fact that it will be necessary to construct quickly a number of ships that will necessarily be obsolete types and useless after the war. It is officially denied that the Canadian Government contemplates giving bonuses to Canadian shipowners, to the exclusion of American bottoms; but guarantees are being asked for large-capacity " windjammers," preferably with auxiliary power, to be substantially and immediately built, and that there shall be extended the utmost preference when Cana- . dian-owned.- This preference will probably take the form of a remission of harbour dues. ' SWEDEN'S ECONOMIC SITUATION. THE CONVOY QUESTION COPENHAGEN, January 23. A Swedish Blue Book shows that the Scandinavian "convoy" conference, mooted for February, has failed, owing to Britain's objection to convoys appearing in British territorial waters. Sweden, however, has issued convoy regulations, and proposes to enforce them in the Baltic, probably next autumn. Sweden's economic situation is described as good. The savings bank deposits i 1915 were 29,000,000 kroner above those of 1914. 1 — WOOD-PULP EMBARGO. SWEDISH MINISTRY YIELDING. COPENHAGEN, January 23. The Swedish Ministry is calming the anxiety of the wood-pulp paper manufacturers, whom it is promising {is many export licenses as possible. AFTER THE WAR. GERMAN TRADE PREPARATIONS. WHOLE-HEARTED SUGGESTION. LONDON, January 23. Mr George Pragnell, a leading promoter of the Empire trade movement, emphasises Germany's enormons preparations to secure the world's trade. He strongly condemns Britishers for forgetting patriotism for the sako of immediate gains. He "urges 1,1 • d Allies to seize interned ships, thus making good those sunk, and then to agree that no vessel which the enemy .has built, owned, or manned shall enter any British or allied ports for a hundred years. He also urges that every Customs duty shall bo equal for the Allies, but double foi' the enemy. NEW YORK, January 23. Harr Guttman, director of the Dresden Bank at Berlin, in an article in the New York World, says that Germany has a large quantity of goods ready for shipment for sale abroad after the war. He also states that the proceeds of securities held in Germany, representing many milliards in hostile countries, will contribute to support the German rate of exchange. GERMANY'S BUDGET. NO MILITARY OR NAVAL EXPENDITURE. WAR LOANS TO COVER THAT. COPENHAGEN, January 23. Germany's Imperial Budget for the year ending March, 1916, does not contain any < military or naval expenditure. This is to be paid by war loans. The naval and military expenses appearing in the Budget arc thus £1.100,000,000 (? marks) below those for 1915. Interest on past war loans entered at two milliards of marks. ANOTHER STEAMER SUNK. CREW RESCUED. MALTA, January 23. The British steamer Trematon (4918 tons) has been snnk. Her crew were """uied. I