LONDON AGREEMENT

Otago Daily Times, Issue 19257, 22 August 1924, Page 7

LONDON AGREEMENT

ANGLO-GERMAN TRADE. MENACED BY CONCESSIONS TO FRANCE. MR SNOWDEN APPREHENSIVE. Press Association—By Telegraph—Copyright. LONDON, August 20. Mr Philip Snowden (Chancellor of the Exchequer - ), in a statement to the Evening Standard’s representative, expresses fear for British trade as a result of the proposed Franco-German tariff agreement. The statement suggests that. Mr Snowden dissents from the Allied agreement regarding default in deliveries and the imposition of sanctions. Ho states that he is not fearful of Germany’s competition with Britain when she is economically reestablished, but under the draft FrancoGerman agreement Germany is compelled to admit imports from Alsace-Lorraine free of duty, while similar British goods are subject to a high tariff. “This,'’ he says, “is unfair and one-sided, and will be disastrous to us. An agreement may be forced on Germany by France at the price of release from the French occupation.’’ Mr Snowden’s vipw is generally interpreted as explaining Mr MacDonald’s letters on the question of the legality of the Ruhr occupation. It is believed that Mr Snowden is opposed to the Russian Treaty, but ho declines to confirm this.—A. and N.Z. Cable. ITALO-CERMAN TREATY. ROME, August 20. (Received August 21, at 5.5 p.m.) Signor de Nava, Minister of National Economy, has announced that negotiations for an Halo-German Treaty will be commenced in October or November.— Reuter. BELGIUM AND GERMANY. BRUSSELS, August 21. (Received August 21, at 8.5 p.m.) The Cabinet has unanimously approved of the London agreement. Negotiations for an agreement between Belgium and Germany will commence on September 10. —R-euter. EXECUTION OF DAWES PLAN. GERMANY’S FINANCIAL ARRANGEMENTS. BERLIN, August 21. (Received August 21, at 11.25 p.m.) Preparatory to to-day’s ratification debate the Government introduced in the Reichstag a BUI assenting to the London Protocol; authorising the Minister of Finance (Dr Luther) to float a loan of 800,000,000 gold marks; and empowering the Government to surrender State railway bonds totalling 11 milliard marks, and also bonds amounting to five milliard secured on industrial taxation.—Reuter. One milliard of gold marks is equal to £50,000,000.