REPARATIONS

Waimate Daily Advertiser, Volume XXIV, 4 January 1929, Page 3

REPARATIONS

(Per Press Association —C-«nvriEhi

LONDON, Jan. 2

The Paris correspondent of “ The Times” states that France generally regards Mr Parker Gilbert’s review of Germany's financial and economic condition as satisfactory.

“Le Temps'’ considers the report shows that Germany is well able to pay the annuities laid down in 1924. There is absolutely no reason why Germany should not fulfil her obligations. It is proud that the Dawes' plan fully took account of Germany's capacity to pay. There will be no excuse if Germany does not complete the plan. “Le Journal des Debats” is less optimistic, and urges Germany, it she desires the liquidation of the war bonds, to take Sir Parker Gilbert’s report as the basis of the Expert Committee's labours. If so the experts’ work will soon finish, but the recent speeches of President Hinden- : urg and Dr. Muller cause France to licul't Germany’s good faith towards /er c.editors, BERLIN, January 2. A chorus of resentful criticism appears in the press of all paities concerning Mr Parke.)- Gilbert's report, which is described as unjustifiedly optimistic, giving a false impression. A Foreign Office official expressed opinion that- the report would be accepted as the Bible by the reparations experts, and thus ruin Germany’s chances of obtaining a reduction of reparations. Mr Gilbert had ignored that the Dawes Plan had work.d smoothly only because Germany lia.i borrowed abroad, thus increasingly mortgaging the national wealth. He likewise had jgnored that the Plan rested on Germany maintaining a surplus cf exports over impoits. Yet there was at present an estimated adverse balance of £125,000,000. RUGBY, January I. The Chancellor oi the Exchequer announces that the Government has nominated Sir Josiah Stamp and Lord Revelstoke as the British members of the committee of exports to frame proposals for a settlement of the reparation problem. There will also be two deputy members, whose names will be announced later.

Sir Josiah Stamp is a well known economist, and was British representat.ve on the committee under the presidency of General Dawes, which drew up the present scheme of reparations in 1924. Lord Revelstoke is a director of the Bank of England and a partner in the banking firm of Messrs Baring Brothers.