MANY AGREEMENTS.

Star (Christchurch), Volume XLIV, Issue 190, 12 August 1931, Page 1

MANY AGREEMENTS.

Experts Make Satisfactory Findings. RESPITE FOR EUROPE. (Received August 12, noon.) RUGBY, August 11. The experts appointed by Belgium, France, Britain, Germany, Italy and Japan to consider the detailed measures required to give effect to President Hoover’s proposal for a debt moratorium have issued a communique stating that a complete agreement has been reached on the detailed measures required to give effect to the proposal. In the case of payments by Germany under The Hague Agreement, the Conference’s recommendations have been approved by the Governments represented, and also by the Governments of Australia, Canada. Czecho-slovakia, Greece, India, New Zealand, Portugal, Poland, Rumania and South Africa. The conference recommends that payments, both reparations and interAllied debts, which are to be suspended during the Hoover year, should be repaid by ten equal annuities from July 1, 1933, to include both principal and interest at a rate not exceeding 3 per cent. It makes this recommendation on the assumption that the system will be acceptable to the Government of the United States. The repayment of annuities is to be an absolute obligation, involving no option of postponement. The German Government pointed out, in accepting the proposal, that it did not intend to express any opinion as to Germany’s future capacity for payment. It agreed that the unconditional annuity should continue to be paid provided that it is immediately lent again to a German railway company. With regard to the deliveries in kind, the conference decided that in any arrangements designed to permit the continuation of deliveries in kind, the contracts must involve no charge on the German Budget during the year, and no injury to German economy. It is stated that an agreement has been reached between the German and Tjlgian Governments on the marks question. The conference also agreed on recommendations as to detailed measures for the suspension of mter-Allied war debts clue to Britain by France and Italy, and of payments under The Hague Agreement with Czecho-slovakia. An agreement has been reached on the principle that payments due by Hungary under the Paris Agreement of April. 1930, and payments by Bulgaria under The Hague Agreement should be suspended during the year, subject to certain adjustments.