REPARATIONS.

Otago Daily Times, Issue 18851, 2 May 1923, Page 7

REPARATIONS.

NEW GERMAN OFFER. BKRGMANN PLAN MODIFIED WARNING BY INDUSTRIALISTS. Press Association—By Telegraph—Copyright LONDON, AprU 30. The Berlin correspondent of The Times says that Germany’s new reparations offer will be despatched immediately after the meeting between the Chancellor and the Premiers of tho Federal States on Tuesday. It will be nearly identical with the Bergmann scheme, proposing to pay twenty thousand million gold marks down, to bo raised by means of an international loan, and two instalments each of five thousand million marks. The proposal involves a guarantee from German industrialists, and would envisage some form of mutual Franco-German disarmament. The industx-ialists have informed the Chancellor that, if the productive capacity of the country is sharply strained, it win Le just possible to mauagje the burdens imposed on industry under the Bergmann proposals. This involves increasing the hours of labour and otherwise lowering the social standards of the -workers. Such an attempt would probably invoke a clash, coming at the moment when the workmen are about to agitate for a very large increase in wages and demonstrate their _ adhesion to the principle of the eight- ' hour day.—The Times.

The plan which Herr Bergmann vainly submitted to the Allied Conference at Paris in December last provided for a German payment of Dealing with the matter at a later date, Herr Rosenberg, German Foreign Minister, in replying to criticism by M. Loucheur, stated that the plan represented the only solution. The sum (specified by Herr Bergmann in December was Germany's utmost capacity then, and the Ruhr invasion had since red»ced_ Germany’s economic strength and capacity to pay. Yet Germany was prepared to accept the Bergmann plan as a basis for a new discussion. No German Government could accept M. Loucheur'a plan for a gradual French retirement as payments were made. Nor could *any German Government accept the proposal to make the left (west) bank of the Rhine a Federal State, demilitarised under the League of Nations.

SUCCESS 02R FAILURE? FATE OF NOTE CANVASSED. FORECAST OF FRENCH OPINION. NOTE WILL MOT BE ACCEPTABLE. BERLIN, May 1. (Received May 1, at 8.5 p.m.) It is now considered doubtful if the Note will be 'despatched before the weekend. The Federal States’ deliberations on Tusday may easily extend over two or three "days. A more significant factor is the eleventhhour intervention of President Ebert, who, after giving the most serious attention to Lord Cucrzon’s speech, left matters largely to Dr Cuno. During his absence from Berlin, his communications with Dr (Juno were mainly made by telephone. Herr Ebert’s emergence is due to the arrival in Berlin of neutral personalities from Parks, who stated that while Frencn opinion is desirous of an understanding M. Poincare is also not disinclined in * that direction. No settlement was possible which looked like the defeat of France. Herr Ebert believes in influencing the Note strongly to the view which these personalities conveyed that France was likely to accept. Dr Cuno was feverishly busy during the week-end. He held a conference of am"bassadors, including Mr Houghton, who isaid he had received a momentous communication for Washington, which will he among the recipients of the Note itself. There is reason to believe that Rome, through its Ambassador, advised the omission of th.j Ruhr evacuation issue from the Note entirely, or. the allusion to it in terms which would, suggest the advisability of reaching an understanding. Both Berlin and Paris are indulging in an orgy of speculation respecting the contents of the Note, but all this is valueless. Paris opinion, however, is firm on one point, that the Note will not be acceptable. Foreign opinion, it is said, should be prepared for the failure of the German proposal, and the continuation of the present situation for some time to come.

There, is an uneasy feeling on the Bourse, which is attributed to the probability of this summary rejection. Financial circles contemplate another shake-up of the mark, but cherish the hope that if politicians fail a solution may be found by the French and German, industrialists. Tile Bourse uneasiness is increased by the Keichsbank announcement that more of its gold is being sent abroad, and that it has already pledged for borrowing purposes a portion of its gold reserve in foreign banks to the value of 85,000,000 gold marks. A further cause of disquietude is the publication of the fact that new paper money to the value of .258,000,000,000 marks will be issued during the third week in. April, bringing the face value of the notes in circulation to 6036 milliards.— jx. and N.Z. Cable. LAWLESSNESS IN THE RUHR. DETECTIVE SHOT AT BOCHUM. COLOGNE, April 30. The state of lawlessness in the Ruhr ns a result of the abolition orf the armed police is vividly illustrated by an incident at Bochum. A detective ■pursuing two thieves was shot in the abdomen, after which his assailants fled, one taking -e----fuge jn the burgomaster’s house. He later appeared on the roof, whence he repeatedly fired on the crowd. The police were powerless. The fire brigade was summoned, but before the driver could alight he was .shot dead. The house was eventually surrounded, and the criminal, finding escape impossible, committed suicide. The second thief was captured.—Reuter. MORE COAL MINES SEIZED. BERLIN, April 30. The French have seize*! four more coal mines at Gladbeck, Recklinghausen, and Gelsenkirchen.—Reuter.