WAR REPARATIONS,

Waikato Times, Volume 105, Issue 17783, 7 August 1929, Page 8

WAR REPARATIONS,

THE YOUNG PLAN. PENALISEB GREAT BRITAIN. MR PHILIP SNOWDEN’S CRITICISM (By Telegraph.—Press Assn. —Copyright.) tAi/straliiin Press Assn. —United Service.) (Received August 7, 12 noon.) THE HAGUE, August 6. Right Hon. Philip Snowden, Chancellor of the Exchequer, during a private sitting clearly defined Britain s attitude toward the Young reparations plan, which the experts had said must be regarded as indivisible and accepted as' a whole. The conference would, Mr Snowden contended, be inconsistent if it followed the proposals as they stood. Britain was not committed to the committee’s recom-

mendations. The Government considered the annuities iixed had not exceeded Germany’s capacity and objected to dividing thorn into two categories. The unconditional annuities carried the right of mobilisation, thus attaining greater security than the conditional annuities. Proposed division gave France five-sixths of unconditional annuities and Italy £2,000,000 annually, leaving a negligible amount for? the other creditors. The experts had not attempted to defend this, though it made Britain a heavy sufferer The House of Commons would not agree to further sacrifices. Justice must be the basis of the only permanent agreement.