REPARATIONS

Otago Daily Times, Issue 18466, 30 January 1922, Page 5

REPARATIONS

THE COMPULSORY LOAN. GERMAN ARRANGEMENTS. SPEECH BY DR WIRTH. Press Association—By Telegraph.—Copyright. BERLIN, January 27. In a crowded Reichstag Dr Wirth (the Chancellor) dealt with the question of reparations and outlined Germany’s financial programme. Referring to the Allies’ demand for balancing the Budget, he said that when tho new financial proposals were voted the receipts would total a hundred milliard marks, as compared with 55 milliard in 1921. Dr Wirth announced tho terms of the agreement which had been reached with the different parties to raise the necessary moneys, and he reaffirmed Germany’s sincerity as regards the Peace Treaty. v ' He was hopeful of tho outcome of the Genoa Conference, in which Germany was joining with all honesty and not tvith a dagger under her coat. In conclusion, the Chancellor referred to France’s attitude of raising pretexts in order to secure the imposition of further guarantees and penalties.—Reuter. FRENCH PRESSMEN EXCLUDED. PROTEST BY NEWSPAPER^. PARIS, January 27. There is indignation among the French Journalists in Berlin, all of whom were excluded from the Reichstag during Dr Wirth’a compulsory loan speech. This is the first exclusion of the kind since the armistice. The French newspapers are protijsting.—A. and N.Z. Cable. KEEPING HER WORD. GERMANY MAKES SECOND PAYMENT. PARIS, January 28. (Received Jan. 29, at 5.5 p.m.) Germany has made the second payment of 31,000,000 gold marks as arranged for at Cannes. —A. and N.Z. Cable. A FUTILE RESOLUTION. ' , BERLIN, January 28. (Received Jan. 29, at 5.5 p.m.) The Communists, in a want-of-confldence vote in the Wirth Government, failed to secure the support of the other parties.— A. and N.Z. Cable. RESTORING GERMAN OREDIT. INCREASED TAXATION PROMISED. . INTERNATIONAL LOAN SUGGESTED. BERLIN, January 29. .(Received Jan. 29, at 11.50 p.m.) A German Note regarding the financial reforms has been sent to the Reparations Commission in accordance with tho demand made at Cannes. It promises increases in direct taxation and Customs duties, the prevention' of the removal of capital abroad to ovado taxation; also the examination of customers’ banking accounts and the abolition of tho bread subsidy and unemployment doles. Thp Government will raise an internal loan to reduce tho floating debt, besides a £50,000,000 loan for reparations. Tlio Note points out that the restoration of the world’s confidence in Germany’s credit is a pro-requisite condition to the complete discharge of reparations, and that tho settlement of the 1922 is only the first step towards a solution of the entire problem. If this were not undertaken uncertainty regarding 1923 would have a paralysing effect on the economic and financial position of the Allies. Tho Note suggests that- a big tional loan to Germany for reparation payments would bo the best way to restore Germany’s internal and external credit. —A and N.Z. Cable.