GERMANY PAYING.

Taranaki Daily News, 28 October 1921, Page 5

GERMANY PAYING.

TOTAL OF REPARATIONS, THE PAYMENTS TO DATE. COST OF THE ARMIES. By Teiepapb.—rr«n amb —CcpyrlihL Received Oct. 27, 7.40 p.m. London, Oct. 26. The total reparations received from Germany to September 30 are officially estimated at £400,000,000. The receipts under the German Reparation Recovery Act to October totalled £1330,000, whilst £26,000,000 was advanced to Germany for expenses under the Spa Coal delivery act. The cost of the armies of occupation amounted to £l4 JOO.OOO, excluding £67.000,000 for the American army of occupation. — Reuter Service. Received Oet. 27, 103 p.m. Berlin, Oct. 26. The president and several directors ot the Imperial Bank, have gone to London to continue negotiations regarding the Anglo-American loan for* reparation payments. Mr. Prank Vanderlip, the American financier, has arrived here.— Au«.-N.Z. Cable Assn. REPARATIONS PROBLEM. EX BRITISH MINISTER’S VIEWS. New York, Oct. 25. Mr. Reginald McKenna, formerly Clmncellor of the Exchequer, speakingat a public dinner at Chicago on international finance, said the United Kingdom has advanced the Allies and Dominions eight billion dollars. Germany owes Britain six billions and England owes the United States four billions, leaving a credit to Britain x>f ten billions, equal to the amount the Allies owe. The United States and England are entitled to ten billions each from Germany. Personally, he favored cancelling England’s half. Germany can pay only fjy exporting annually 650 millions more than she imports. German workmen will accept almost any wages to undersell British and United States exports. Germany is issuing paper marks, depressing the external value of the mark and paying reparations at the cost of the British unemployed. ‘T would rather see our people employed producing wealth than receive a dribble of wealth from Germany at the cost of British unemployment. * I begin to doubt whether the payment of reparations is really beneficial to Britain, at any rate to this amount or in this form, and whether the other war debts due to Britain inight not prove a curse instead of a blessing if paid.’’ PROBLEM FOR CONFERENCE CAN GERMANY PAY? London. Sept. 17. The correspondent of the Times at Washington states: —“Much as may be accomplished by the conversations now proceeding in Washington, London, Pdris, Rome, and Tokio. in the way of reaching a more exact definition of the question and agenda for the Armaments Conference it is increasingly accepted at Washington that only when the Powers have met will finality be possible. What is conceivably of equal importance to the progress of these negotiations, however, is the recent growth of the conviction, not in official circles, but among leading financiers and business men, that the scope of the conference should be broadened to include a comprehensive survey of the financial and economic condition of the world.

“There is a steadily-hardening opinion that the more closely the Powers study the situation the more surely will they realise that courageous grapplings with -these questions is a most vital necessity. Predictions are freely offered that a decision thus to enlarge the purview of the gathering will be eventually made. If not, the discussion within its present limits will be disappointing. “Official circles do not reflect this view. It was recently rumored that the intention was to hold a financial and economic conference coincidently with that on armaments, but it is officially stated that this is not contemplated, a« far as Mr. Harding’s Administration is concerned.

“This is undoubtedly true, yet the men who made the prediction have such power and influence that it can hardly be denied that their view may become a factor of great importance. These men direct attention to the fact that the United States Government in its invitation stressed the economic reasons for the limitation of armaments, and point out that if the conference confines its action to a measure of armaments limitations it will be merely scratching the surface.

“They find that the problem of the payment of international debts lies at the root of the present economic disorganisation more surely since, under the heading of International Debts,’ they include the reparation owed by Germany to the Allies.

“They are convinced that the financial disruption of Germany is approaching, end only a miracle* can avert a most serious crisis when the next payment is due, in March. Therefore, they believe that the reconsideration of the German indemnity is essential, but admit that the United States could only participate with full authority on condition that she -is willing to treat the question as ultimately linked to that of the debts owed fcy the Allies to the United States. “While it is admitted that Germany can only pay the indemnity in goods, the Allies have taken measures to keep out these goods, just as the United States, while demanding that the Allies should pay what they owe her, is now about to create an insuperable tariff obstacle to this payment.

“Prominent men are convinced that tnless a courageous effort is irfade by

the Powers to settle this problem, little can be accomplished in the way of world

reconstruction. There is no inclination to deny that the United States, and not the Allies, is probably the chief obstacle to the making of such an effort.

•Tn the Senate and el-e where so much venom is injected into the discussion of the Allied debt’ that it is no exaggeration to say that a public man who dared to suggest even a limited measure of caneeilation would do so at the cost of bis political future.”