BREAKDOWN OF YOUNG PLAN IS PREDICTED.

Stratford Evening Post, Issue 81, 10 August 1929, Page 5

BREAKDOWN OF YOUNG PLAN IS PREDICTED.

UNCOMPROMISING ANNOUNCEMENT BY Mr. SNOWDEN. BRITISH GOVERNMENT WILL NOT RATIFY REPORT. LONDON August 8. The special Hague correspondent of the Evening-. Standard says that excellent judges confidently predict a iTreakdown of the Young plan. Somebody Ims to go a long way to save the'plan, and it will not he Britian.

Herr Stresemann and M. Briand are trying "privately to solve the Rhineland problem. They conferred in the latter's room and M. Briand suggested that the evacuation should begin three months after the Young plan operates. This will assist the Government to show the French people something tangible before the evacuation. ' Herr Stresemann objected to the linking of evacuation with the mobilisation of bonds and insisted that the Locarno Treaty and the League of Nations had furnished ample security. M. Briand found Herr Stresemann resolutely opposed to the proposed Commission of Conciliation. The latest suggestion is that these diiferences shall he tackled by a separate Franco-German confeernce at Geneva. APPARENT IMPASSE. A further uncompromising announcement was made by Mr P. Showden at the first meeting /Of; the finance commission, and brought the conference to an apparent impasse. He said Britain did not accept the argument that the experts' report was indivisible. All the changes that the British delegation asked could be made without undermining the essentials. He pointed out that Britain had settled with Italy a debt of £560,000,000 for a present value of £75,000,000. If the proposals of the Young plan were carried out Britain would have to sacrifice another £30,000,000 of litis. She would therefore'» receive for a funded loan of £560,000,000 only £48,000,000. "I haive the unanimous support of my Government, all parties of the House of Commons, and the people of Britain," declared Mr Snowden. "I speak quite frankly; I cannot compromise. The British Government will never ratify the Young report in its present form."

materia" interest involved, but in support of treaty rights. For these she willingly sacrificed her Wood and manhood. No country was left at the end of the with such ai Avar debt as ißjrifca'ita.'s, which jwas £7,500,000,000, or more than double that of any other; nnftioro in th<jj world. Her allies at the end of the war owned 'Great Britain £2,000,000, 000, advanced to keep their armies l in the field. Britain''a settlement of debts were all most generous in character. THE CASE OF FRANCE, "Take the case of France, whose debt to Britain was £600,000000. It lias been agreed that France should pay Britain upon the present value basis £227,000,000 in full settlement. Tiie agreement with italy was even more generous." Britain owed the United States approximately £1,000,000,000, and by her settlement with Ahat -jcountiry had to pay, oven a period of 60 years, au aggregate of £2,000, 000,000 or more than twice the am'ambpaabnfl i a a ■ mm n n n n

DEBTS MAY BE REVISED. THE HAGUE, August 9. A certain uneasiness was caused amongst delegates when Mr. Snowden ueclared that if Britain did not receive just satisfaction he (had tlie moral right to reverse existing deob funding arrangements.. i< i'encid, journalists. interpreted tins inaccurately as. an intention to revise the debts., but Mr. Snowden's words wore perfectly clear and referred to the debt agreement. Mr. Snowden argued that if tho Young plan were really indivisible tho conference need not have met. He asked why there were committees being formed if not for the purpose of considering the plan and making; changes tnerein. All the changes the British delegation asked for could be made within the structure of the plan. Reference had been made to French grievances and saci-ifices. It was saiu the amount of annuities France would receive would bo smaller than unuer the Dawos plan. Ho did not. call it sacrifice to give up something that should never have been received. Even, if it were, it was a sacrifice every creditor Power wa>s called upon to bear proportionately. If sacrifices were talked about he would have something to say about the sacrifices of the British Empire.. , WE NEVER COMPLAINED. i "No single country," proceeded Mr. Snowden, "made anything like tho wjar sacrifices of Great Britain, but wo never complained. I would not raise tho question now, but in reply to people who talked about sacrifices they would have to make if the Young plan were adopted. "Let it be remembered that Britain entered the Avar not because of

VWWVA , WWWW , AV mint slie borrowed, said Mr. Snowden. Ho asked the delegates to contrast tills with the settlement the Allies made with Britain, and added that the question of deliveries in kind was most important to Britain. The proposal in the Young plan affected her export trade disadvantageously. Mr. Snowden concluded by proposing that sub-committees be set up to consider the various phases of the Young plan. I sjfport fur snowden. '.me morning newspapers without txcc,,uoiii (support iVir. bnowden’s vigorous stanu on beiiair o± -bricain. men, tue extremely rooming, host, wnicii usually bitterly opposes iVxr. faiiowden, says “his robusu patriotism pleases as mucu as it surprises us."'

The Morning l'ost, however, like I the majority or' tiio newspapers, agrees wren Mr. Snowden as to the matter of hi& protest, but not as to the manner ol his argument. They issue an emphatic note of warning concerning tun effect upon, Europe s peace. CRISIS UNABATED. A later message states; The- Hague crisis is unabated overnight, despite frantic efforts at conciliation.. French and Belgian delegates who ] interviewed Heir Hilferding at mid- , night botli called on Mr. Snowden , and strongly appealed for a modification of his attitude. It is understood Mr. Snowden wa,s more adamant than ever, stating that the British Government preferred to withdraw from the conference rather than not obtain satisfaction. The Manchester Guardian's Bagus correspondent states that the breakup of the conference is inevitable, unless there are changes in either the British of French attitude by Saturday. M. Cheron states that it is impossible for the French [delegation to accept Mr. Snowden'si proposals. , , FURTHER SENSATION. THFj HAGUE, August \f. It is revealed that Mr Snowden has provided a further sensation by

declaring that just before, assembling for the. l-'arts Gouierence ttie l< reach, Italian anil British experts seciewy contorted in and. undertooK. not to disturb the paper Ce.nt.ages. M. Cheron has cjischumed any knowledge of the fact, Signor Pirelli,, the delegate, Jioweveii ajU.mJttedl that he attended a, gathering but contended that Mr Snoivden has misunderstood the. ag?:ee|neu"fc. This the first that the. Germans had heard of the secret discussions, but their suspicions have been sharpened an<| some declare that Mr Snowden has confronted tlie conference with ui ultimatum. Germany will not even discuss a penny increase of the Yon <ig figures, to meet Mr Snowden's demands. Meanwhile* reliable quarters! say that Mr Snowden is prepared toi quit on Monday unless lie obtains satisfactory assurance that British .taxpayers will bo protected.—Australian Press Assn. MR SNOWDEN'S REAL OBJECT. (Received 9.30 a.m.) THFJ HAGUE, August 9. Steps, unofficially taken, point out that Mr Snowden's veal object is to get a Financial Commission promptly constituted, to consider the proposals ho has prepared These are jjnito within the fabrica of the Young plan.