MAKE GERMANY PAY

Otago Daily Times, Issue 18625, 5 August 1922, Page 11

MAKE GERMANY PAY

' THE FRENCH VIEW. GREAT BRITAIN’S INTERESTS. (From Our Own Correspondent.) LONDON, June 30. Sir James Allen attended the annual banquet of the French Chamber of Commerce. Mom. J. Lotoux (President of the chamber), in his speech, dealt with the German and French financial position. “ The depreciation of German money,” he said, “is due to the insane policy of the Government of the Reich. It resulted notably from the considerable increase in tho number of officials, the redemption ol railways and canals, from indirect subsidies of all hinds granted to German industrycheap tariffs of tronsport, cheap bread, cheap coal. To such ends was the Germon Treasury used, raising the fiduciary circulation from twenty-two hundred million marks in 1918 to one hundred and twenty thousand million in February, 1923. France, in consequence, feels assured that, to protect tho interests at the same time of tho Allies and of Germany herself, she is right in asking tho Allies to put an end to such a policy, which can only lead to the bankruptcy of the German State, for the benefit of the German magnates of industry and to tho detriment of just reparations. “ If it is true that there is an economic inter-dependence between nations, it is equally true that some have a production antagonistic to one another. It is the cose of Germany and Great Britain. If, on the other side, there is a country whose' production is happily complementary to that of Great Britain, and therefore very seldom conics into competition with her, .cither here or on the other markets, that country is Fiance. Add to it that France is the third best customer of Great Britain, Indio, and the United States. being first and second, what would become of the French market if we succumbed under tho weight of our debts, and in particular of the 80,000 million francs wo'had to pay for reparations? The bankruptcy of France cannot ,be avoided if the Allies do not unite to inake Germany pay. And Germany can pay if she applies tho measures indicated by the Commission of Reparations in view of a progressive rehabilitation of the mark. With the mark’s value raised, British products will no longer be so unequally placed, <nd they may find their Way to the German market. Order in German finances would mean at the same time reduction of unemployment in Great Britain and payment ol reparations. It can therefore be truly said that there is a close solidarity in the economic interests of Franco and Great Britain.”