GERMANY’S CASE

Taranaki Daily News, 13 January 1932, Page 7

GERMANY’S CASE

HER INABILITY To PAY objection to time limit OPINIONS FROM BERLIN CREDITORS MAY COMBINE DECLARATION TO AMERICA By Telegraph—Press Assn.—Copyright. Rec. 10 pan. London, Jan. 12. Inability to pay ■within calculable time will be Germany’s case at the Lausanne conference, says the Berlin correspondent of the Daily Telegraph. While not openly repudiating the Young Plan Germany will refuse to agree to any provisional settlement fixing a date for the renewal of reparations payments. The opinion is expressed that the conference, failing a decision, will adjourn for some time and that meanwhile the French and German elections and further diplomatic discussions may change the situation. It is even thought possible that Germany’s creditors may combine in a joint declaration that owing to Germany’s attitude they cannot themselves meet their obligations to the United States. I v GERMAN REPUBLICAN HEAD. EXTENSION OF TERM SOUGHT. Berlin, Jan. 11. Herr Hitler and Herr Hugenburg held a conference to-day and decided not to support Dr. Bruening’s proposed motion in- the Reichstag extending President Hindenburg’s term till July. Herr Hitler intends to inform Dr. Bruening that while he wants President Hindenburg to remain in office he would prefer to bo done by the votes of the people and not by the unconstitutional means suggested by the Government. It is understood that Herr Hitler and Herr Hugenburg agreed to support President Hindenburg. If he seeks re-election he would be assured of an overwhelming majority, as only Communists are likely to oppose him. GERMAN BONDS RELAPSE. FALL ON LONDON EXCHANGE. British Official Wireless. Rec. 5.5 p.m. Rugby, Jan. 11. The Stock Exchange in London opened with a weakness, especially noticeable in the foreign bonds section, where German loans suffered a setback. German 7 per cents, relapsed nearly three points at 66A and 5} per cents, were two points lower at 51. . WHAT CANCELLATION MEANS. HEAVY LOSS TO AUSTRALIA; Reo. 12.30 a.m. Canberra, Jan. 12. If Germany cancels her reparations payments Australia will lose £BOO,OOO a year for 32 years. ‘ The Commonwealth has so far received as reparations £5, ’500,000, most of which has been added to the national debt sinking fund.