GERMAN REPARATIONS

Otago Daily Times, Issue 20710, 7 May 1929, Page 9

GERMAN REPARATIONS

SLOW PROGRESS BEING MADE, MR OWEN YOUNG’S PROPOSALS. TERMS NOT YET PUBLISHED. (United Press Association.) (By Electric Telegraph—Copyright.) PARIS, May 5. (Received May 6, at 10' p.m.) The terms of Mr Owen Young’s compromise are still unpublished, but it is understood that the compromise proposes that Germany should pay £103,000,000 annually, for 37 years, which, with a further sum furnished by the new International Bank, would mean a total capitalised sum of £1,800,000,000, compared with the Allies’ demand for £1,950,000,000. Dr Schacht tentatively accepts Mr Owen Young’s suggestion, with certain economic conditions.—-Australian Press Association. GERMANY’S ACCEPTANCE. FRENCH PRESS OPINION. PARIS, May 5. (Received May 6, at 10 p.m.) The French newspapers are not enthusiastic over Dr Schacht’s acceptance of Mr Owen Young’s compromise, fearing that it will place France in a difficult position as she may be accused of spoiling the settlemeut. France hopes, however, that the United States will make corresponding financial sacrifices if the compromise is accepted.—Australian Press Association. THE PROPOSED ANNUITIES. LONDON, May 5. (Received May 6, at 10 p.m.) The Paris correspondent of the Financial Times states that Mr Owen Young proposed that Germany shall pay 58 annuities, commencing with £85,000,000 and rising to a maximum of £122,500,000, but after the, thirtyseventh annuity there will be a big decrease for the next 21 years.—Australian Press Association. , MORNING POST COMMENT. LONDON, May 6. (Received May 6,,at 10.10 p.m.) The Morning Post says: “For the first time Germany offers figures within a margin which the Allies can accept. The figure, which is now in process of agreement, will suffice to pay the Allied debts to the United States in 37 years, whereas Britain agreed to continue paying America for 58 years, but the discrepancy does not disturb British experts, as the profits of the proposed Bank International' may be used for later payments. Moreover, .as one delegation said, ‘ \Vho can say what will happen in the course of a generation.’ ine tussle oyer reparations will now concern the diminution of payments for reconstruction in the devastated provinces in France and Belgium.”—Australian • Press Association.