EX-GERMAN PROPERTY

Poverty Bay Herald, Volume LV, Issue 17116, 23 November 1929, Page 7

EX-GERMAN PROPERTY

DISPOSAL OF PROCEEDS NO REPAYMENT PROPOSED (British Official Wireless.) Rec. 10 a.m. RUGBY, Nov. 12. Tiie Chancellor of the Exchequer in the House of Commons to-day stated the position of the Government on the question of the liquidation of German private property. He said he had consulted the British experts of the Young, committee, and he was informed that- the disposal of the surplus proceeds of tho liquidation of German property was fully considered by the experts committee in Paris, and that it was the intention of the British experts, and of the experts of all creditor governments, that the proceeds of the liquidation of those properties should be retained, in accordance with the treaty, by the creditor powers concerned, and that no part of such proceeds should be repaid to Germany. It was only on this understanding that they agreed to recommend the reduction of German-obligations as proposed in tho Young plan. The ‘German Government was duly informed that any surplus that arose would be credited to Germany on account of reparation debts.

The French Government, owing to the Budget discussions in the French Chamber, has suggested that the meeting of the second Hague conference should be postponed until January 3. 'The German Government has agreed, and has now inquired of tlie British Government whether that date would be acceptable to it. This is now under consideration.