LATEST NEWS GERMANY’S DEFAULT

Waikato Times, Volume 94, Issue 14829, 17 December 1921, Page 5

LATEST NEWS GERMANY’S DEFAULT

FRENCH PRESS COMMENT,

WILFULLY AIMED AT DEFECTION

ALLIES MUST NOW ACT.

(Australian and N.Z. Cable Assn.) Received December 17, 9.40 a.m. PARIS, December 16

Commenting on the Germans' default, Le Journal declares that Mr Lloyd George certainly has not lost the manuscript of his magnificent speech to the Germans at the London Conference, when he reproached them for their-bad behaviour, and he has only now to read it..

The newspapers generally are not {surprised at Germany's claim for a moratorium, but are equally unanimous that she can pay at least the next two instalments,..as German manufacturers have placed more than '1,000,000,000 gold marks with foreign banks. The opinion is strongly held that Germany wilfully brought about the defection, and the Allies must now try some other solutions, and a definite resolution against her recalcitrancy must be taken by M. Briand and Mr Lloyd George in conference.

FRADULENT BANKRUPTCY.

PROPOSED ALLIED CONFERENCE

COERCIVE MEASURES LIKELY.

(Th'e Times.) Received December 17, 10.55 a.m LONDON, December 16.

The Times says that Germany's reparation proposals are familiar to those dealing with dishonest debtors. Herr Wirth's note amounts to an intimation that if the Allies now comply it will be used as a precedent every time an instalment is due. There should not be any doubt regarding the Allies' reply. The amounts were fixed last May after careful expert examination, and a few weeks ago the Reparations Commission went to Germany and found that she was able to pay them. It is the Allied Governments' duty to their o\vn N peoplo to act upon the Commission's decision, which unofficial reports fully confirm. The German Government's poverty is its own fault; it has been spendthrift and allowed, or encouraged, the export of German gold. The Germans own half of Holland alone, and the Government has not attempted to tax the enormous wealth of Industries. The Allies know thaL Germany possesses or controls sufficient monev to pay the demands, and will not be cheated by what M. Briand calls fraudulent bankruptcy. France is absolutely determined to enforce dUe payment, and no Minister dare resist the popular demand. As America does not favour the discussion of the Allies' debt to America it is now believed the Premier is not likely to visit Washington. It is most probable an Allies conference will be summoned after M. Briand and Mr Lloyd George have conferred in London next week, "when they will discuss the whole position of shattered Europe. Monday's conversations will be exploratory, preparing- the way thereto. Germany's announcement of her inability to pay necessitates some such meeting. PARIS, December 16. There is no doubt Germany's refusal to ■ pay will cause a great wave of popular resentment. It is known that German industries are distinct from the Government, and were highly prosperous. There will certainly be a strong movement in France in favour of coercive measures.

PAYMENTS TO BRSTAIN. Received December IT, 8.45 a.m. LONDON, December 16. In the House of Commons Mr E. H. Hilton Young stated the amount receiver from Germany under the reparation and financial clauses of the Versailles Treaty was not sufficient to cover the cost of the British army of occupation.