GERMANY.

Otago Daily Times, Issue 18876, 31 May 1923, Page 7

GERMANY.

RUHR OCCUPATION. CONFISCATION' OF MONEY. A CATASTROPHE THREATENED. Pres* Association —By Telegraph—Copyxigat BERLIN, May 29. According to advices from Essen, the confiscation of money in tho r.eichsbank. has compelled tho private banks to close early, as they have insufficient cash to meet the demands of the public. A largo part of the amount seized was intended to pay the wages of tho miners. The managers of the private banks have decided to inform the French general that the non-payment of wages was likely to lead to a catastrophe, and they asked for a promise that any fresh supply of bank notes would not be seized; otherwise no more money would be brought to Essen. —Reuter. RUHR MINERS. INCREASE IN WAGES. BERLIN, May 29. An agreement has been reached by -the employers and miners by which the Ruhr minors’ wages will be increased by 55 per cent., to meet the increased cost of living.—Router. REPARATIONS CONFERENCE FRANCE AND BELGIUM. PARIS, May 29. M. Poincare will go to Brussels on Juno 6 for tho Ftanco-Belgian Reparations Conference.—A. and N.Z. Cable. RUHR CREDITS. PARIS, May 29. (Received May 30, at 7.45 p.m.) Declaring that the question was one of confidence, M. Poincare secured Ruhr credits by 505 votes to 67.—A. and N.Z. Cable. REPARATIONS SCHEME. BELGIAN SCHEME OUTLINED. PARIS, May 29. (Received May 30, at 7.45 p.m.) The Belgian reparations scheme is based on tho view that the Ruhr will continue to be used as a means of exercising pressure on Germany, but the pressure will be relaxed if the Germans definitely agree to the Allied plan of payment by means of an internationally controlled monopolyover trusts. It is proposed that these shall include sugar, tobacco, alcohol, and the exploitation of the railways arid mines. The sale and export of the monopolised products would bo placed in the hands of an international syndicate, in which the Allies would have predominance. It is suggested that 2,4Uu,000,000 gold marks could thus be drawn from Germany every year. This, considered as interest at 6 per cent., totals 40,000,000,000 gold marks.' Belgium does not regard this as the definite limit of Germany’s payment, but as a basis for consideration.—A. and N.Z. Cable. FRENCH EVACUATE DYE WORKS. WORK RESUMED. BERLIN, May 29, Tho French have evacuated the Hoechst Dyeworks, which they recently occupied, and work has been resumed.—A. and N.Z. Cable.