GERMAN TRADE DEBT

Taranaki Daily News, 16 October 1934, Page 7

GERMAN TRADE DEBT

RESUMPTION OF NEGOTIATIONS. FINANCING OF FUTURE TRADE. (British Official Wireless). Rec. 5.5 p.m. Rugby, Oct. 13. Sir Frederick Leith Ross, chief economic adviser to the Government, will leave for Berlin at the beginning of next week for the resumption of the AngloGerman negotiations on the question of Germany’s outstanding commercial debts and the financing of future trade between the two countries. Newspapers emphasise that it is the Government’s view that an arrangement for the liquidation of old commercial debts must form part of any agreement reached with Germany, These outstanding debts, a large part of which is owed to Lancashire and Yorkshire textile interests, is estimated by the Press to amount in all to about £2,000,000. Sir Frederick will take a complete draft agreement for submission to Dr. H. G. N. Schacht, Minister of Economics. It is anticipated that counter proposals will prolong the discussion. A temporary agreement is suggested fcff- the Telegraph’s diplomatic correspondent, who says that owing to the economic state of Germany it may. be impossible to conclude an arrangement extending for more than two months.