REPARATIONS

Wanganui Chronicle, Volume LXXXI, Issue 18791, 29 May 1923, Page 5

REPARATIONS

GERMAN INDUSTRIALISTS EVOLVE A SCHEME TO PAY 40 PER CENT. OF REPARATIONS OTHER INTERESTS EXPECTED TO CONTRIBUTE. Aenuun industrialists have presented to the Government a scheme by which they hope to pay 40 per cent. of the reparation payments. They propose that the remaining 60 per cent, be covered by similar action on the part of other interests, particularly agriculturalists. By Telegraph.—Press Association. —Copyright. Received May 29, 8.25 p m. LONDON, May 28. The Daily Chronicle’s Berlin correspondent reports that the executive of the Federation of Industrialists presented Herr Cuno with a detailed scheme guaranteeing reparations. They propose that a proportion of their immovable property, including factories and machinery, shall be mortgaged to the State, the owners paying interest, which will be allocated to the fulfilment of Gertnany's obligations. The industrialists hope their offer will cover 40 per cent, of reparations payments. They propose that the remaining 60 per cent, be covered by similar action on the part of other interests, particularly agriculture. They point out that agriculturalists have paid off mortgages with depreciated paper marks, so that all great estates are free of debt and benefit by cheap labour and grain subsidies. Other | interests expected to contribute are banks and shipping companies, which are asked to allocate a proportion of their gold reserves. Industrialists, however, demand equal treatment in international trade, and that Germany shall no longer be required necessarily to assent to any “most favoured nation” arrangement, which the Entente Powers may make among themselves. They also ask for the removal of the German Government’s restrictions upon trade, puch as import and export licenses, and require that railways, posts and other State concerns be placed upon a remunerative-basis. Finally, they ask that the workers shall contribute to reparations presumably by assenting to the abolition of the eight-hour day.