REPARATIONS.

Wairarapa Age, 9 August 1929, Page 3

REPARATIONS.

GREAT BRITAIN’S STANDPOINT ELABORATED. DISCUSSION AT THE HAGUE. MORE EXPLANATIONS. United Press Association—By Electric Tel egraph—Copyright. RUGBY, August 7. The attitude of the British delegation at The Hague Conference towards the Young scheme of reparations was further explained in a statement to-day, in which the British objections were outlined. It was pointed out that while Britain accepts the Young Plan as a basis for discussion, it cannot accept it entirely without modifications more favourable to Britain. Britain is especially dissatisfied with the alterations in the Spa percentages applied to all classes of paymentr Britain is equally dissatisfied with the provisions in the Young Plan that payments in kind, which, under the Treaty of Versailles, should expire in 1931, will under the Young Plan continue on a decreasing basis for another ten years. Finally, it was added that opinion in British financial circles is crystallising against the conception of the experts t’hat the proposed International Bank should become a great financial institution with a gold reserve controlling in a general way the international flow of gold. The British view was that the Bank’s powers should be limited to those of an International Clearing House for the payment of war debts. At to-day's meeting of the conference, the delegates of nearly all the other nations replied to the speech made vesterday by Mr. Snowden, the British Chancellor of tho Exchequer. M. Cheron, the French Finance Minister, denied that France would gain by any sacrifice that Britain would be called upon to make under the Young Plan.

In the course of a short meeting this evening, the Conference decided to cleet two committees, one to deal with political matters and the other to deal with financial questions. Mr. Arthur Henderson, the British Foreign Secretary, was elected chairman of the Political Committee, whilst Baron Houtart, the Belgian Finance Minister, was appointed chairman of the Finance Committee. It is understood that Messrs Snowden and Graham will represent Britain on the Financial Committee. Both committees begin work to-mor-row.—(British Official Wireless.) DIVIDED OPINIONS. FRANCE & BRITAIN OPPOSED. THE HAGUE, August 7. The private sitting of the Conference was taken up with the discussion of Mr. Snowden's criticisms. M. Cheron explained the French attitude in respect to the distribution, of reparations and suggested that it might be necessary to hold another conference of experts to decide the question Dr. Strcsemann announced that Germany was disinterested in respect to the distribution, which the Rilles must fix up. Tho resumption of the Conference revealed a fairly accurate grouping of the Powers. Rumania, Greece and Jugo-Slavia sided with Britain in demanding a revision, but Franco and Italy vehemently insist that the Plan must be accepted as an indivisible whole, unless the experts are recalled, which would be dangerous. —(Australian Press Association—United Service.)