NO MORE SACRIFICE

Taranaki Daily News, 19 August 1929, Page 9

NO MORE SACRIFICE

POWERS’ OFFER REJECTED BRITAIN STANDS ON RIGHTS MR. SNOWDEN’S DECISION tense days at the hague By Telegraph—Press Assn.—Copyright. Australian Frees Association. Received Aug. 18, 5.5 p.m. London, Aug. 17. . At The Hague to-day proceedings were largely argumentative. Yesterday’s proposals on behalf of the four Powers having been reduced to writing, Mr. Snowden to-day despatched a written reply to M. Jaspar, the gist of which was that the (proposals were entirely inadequate and unsatisfactory. A more serious effort must be made to meet British requirements if the conference was going to succeed. It io understood the new proposals of the four Powers were: — (1) That Britain is to receive £1,920,000 more annually than by the Young plan. (2) That the site of the International Settlement Bank be London. (3) That the clause in the Young plan allowing, recipient Powers to reexport deliveries in kind from Germany will be abolished. (4) A concession is made to Britain regarding countries now receiving German coal deliveries.

These proposals were held to represent an 80 per cent, offer towards meeting the claim for £2,400,000 yearly which Great Britain refuses to sacrifice under the Young reparafions plan. MERELY DEMANDING RIGHTS. Mr. Snowden’s reply pointed out that the British Government was merely demanding rights to which it was already entitled under existing agreements. Britain’s original share under the Spa percentages must be restored or its equivalent given; she must also recover something like her full percentage of unconditional annuities. Mr. Snowden again refutes the contention that the Young plan must be taken as a whole, and reminds the other Powers that the experts’ recommendations were never binding on Great Britain, His reply argues the subject statistically at some length in order to prove the sacrifices Britain is being asked to make; Dealing with the apportionment of unconditional annuities Mr. Snowden says it is impossible to reconcile France s increased allotment with the promise which M. Poincare made to Mr. Churchill in 1928, namely, that France would never seek to obtain priority or further advantages. Britain under the Dawes scheme would receive a surplus in the first decade amounting to £3,000,000, but the new plan would deprive Britain of this mainly for Italy s benefit. 'Though Italy had already obtained considerable sums when Britain settled Italy’s war debt on a scale of unprecedented liberality, it was now proposed that Italy’s share of German annuities should be increased at Britain’s expense. In conclusion Mr. Snowden describes the proposals relating to deliveries in kind as vague and indefinite. Britain is not prepared to accept’any arrangement imposing upon her fresh sacrifices. Similarly the proposals dealing with surpluses of unconditional annuities are inacceptable and cannot even be regarded as a serious effort to meet Great Britain’s requirements. The British Government must press for a just and equitable settlement. A previous message stated that although Mr. Snowden has rejected the further proposals of the four allied Powers lie has announced his readiness to remain a few days at The Hague to enable them to submit another offer. The conference accordinglj- stands adjourned over the week-end.

POWERS CALLING IX EXPERTS. VALUATION OF ALLOCATIONS. Received Aug. 18, 11.30 p.m. United Service. London, Aug. 18. M. Jaspar visited Mr. Snowden last evening and asked him to agree to the appointment of experts to estimate the value of the various allocations suggested in yesterday’s memorandum. Mr. ■Snowden assented. A committee of Treasury experts of Britain, France, Italy, Belgium and Japan is accordingly being formed immediately and is expected to report by August 20. British circles’ comment on the. reproach directed at Britain that she is sacrificing world peace for a few paltry millions is that it is not a question of money alone. Britain’s position is that after all the sacrifices she lias already made the time has come to cail a. halt. If Britain made these concessions, it is said, they would simply be used to manipulate further concessions if the occasion arose. Britain is not placing obstacles in the way of Europe’s pacification; it would be "truer to say the people who allege this are not prepared to do anything for pacification unless Britain' pays them. Therefore the Sunday newspapers strongly and unanimously support Mr. Snowden. The French Press, however, continues to be bitter.