NEW EUROPE.

Taranaki Daily News, 11 March 1920, Page 5

NEW EUROPE.

REMAKING THE NATIONS. GERMANY WANTS MONEY. PEACE RUSSIA'S SALVATION- «» T«lejtaßh.-fttM Ann.-CopnUht. Received March 10, 10.25 p.m. London, March 8. »v Mwg P*P er * contain a forecast of the Supreme Council's ecoaomio memorandum. The main Hoes are in accord with the forecast already cabled. The keynote of the manifesto-is said to be the necessity of restoriuflfiGermany and Russia economically. ~\j nm taat ig done the ~ effective recovery: of Europe"generallv * i» impoMibie. ~, ' Russia's flnt requisite is peace, and the second ig reorganisation of transport. The Council urges that the State* bordering on Russia should accept any reasonable terms, as this would enable the resumption ,of trade and the importation into' Russia of the neeeaiary railway material, to which the Soviet Government attaches the greatest importance. '* The Council considers Germany's principal need is a precise statement of her obligations imder the Peace Treaty's reparation clauses. It is not proposed to revise the Treaty in this regard, as wide powers are already vested in the Reparations Commission. The Council therefore urges the Commission to proceed without delay, in fixing the. amount Germany must pay. To enable this to be done Germany will be requested to furnish h«r own estimatw fts arranged before the Treaty was signed. The proposal for allowing Germany to raise an external loan present* the greatest difficulties. It is believed Germany's economic restoration depends on a substantial foreign loan, which, however, is unlikely to be forthcoming, if its repayment must wait until the indemnity is' wiped off. On the other hand France urgently needs payment of the indemnity in order to festore the ravages to her industry.

ARMAMENTS TO BE REDUCED. SESERVATIONS MADE BY FRANCE. Received March 10, 11.20 p.m. London, March 8. The Supreme Council's economic memorandum proceeds that while therefore the Council suggests repayment of the loan should take precedence over the indemnity payments, it will be subject to 'certain safeguards. It is likely modifications will be made based on French representations, which are now being presented to the Council. The memorandum also emphasises the neceMity for strictly limiting expenditure on armies and navies, arid for friendly international relations and governmental economy. MeMages from Paris state the French Ambassador in London had been instructed to say France is willing to eigft the .memorandum with the follow- j ing reservations:— (1). France declines to press that the Border, States shall make peace with Russia. (2.) Reparations under the Peace Treaty must take precedence over lotto repayments.

IBANOE BEFORE GERMANY. j ,TBEATY MUST BE ADHERED TO. Received March 10, 10.30 p.m. London, March 8. An official communique from Paris ttys the French Government's objections to the memorandum are mainly' based on the view that the terms ofi the Peace Treaty must be rigidly performed. France refuses to., accept a disguised revision of the Treaty or a diminution of the powers of the Repara- j tions Commission. Negotiations on these points are in progress. I The Paris correspondent of the Dally I Telegraph says French feeling is deeply I • stirred by the reports regarding the Connril's memorandum. The French people ranrtot forget, even if they wished to, wliftt damage the invaded* areas have suffered, and cannot tolerate a proposition that Germany's economic straits fhould be placed on the same footing as France's, which are so largely the result of Germany's invasion. 1 the Daily Telegraph says there is extreme nervousness in France lest France may after all be cheated out Of her due, and considers the other Allies have realised their aims, including, Britain, which sees the German navy and maritime commerce and her colonies destroyed. France alone is in danger of getting little, save burdens. Even Alsace-Lorraine is not an acquisition,' but merely a restoration of stolen pro-certf>-Aus.-N.Z. Cable Assn. GERMANY'.? PERIL. THREAT TO GO BANKRUPT. Received March 10, 7.36 p.m. Paris, March 8. 'The Berlin correspondent of the Journal states the German Government ha* drawn up economic memoranda for submission to the Peace Conference, showing that in order to obtain food supplies Germany needs a loan of fortytwo milliards of marks in gold. Germany also asks for a modification of the Rhine occupancy, and finally declares thai if the terms are not accepted Germany will declare bankruptcy next Atttn9nn.-Aus.-NX Cable Assn. Received March 10, B.SO p.m. • Paris, March 8. M. Tafdien, in an article in the Petit. Parisiea, declares the London economic - memorandum is equivalent to a rejection of the Versailles Treaty to France's de-triment.-'Aus.'N.Z. Cable Asm.