Germany Consents To Pay Three Milliard Reichsmarks in Form of Bonds: Mr. MeDonald's Efforts Lausanne, July 5. settlement of problems, heard of 3, To-day, with Mr, MacDonald as Hen cadre eat genet the central figure, the discussions were even more intensive than inva past he has been the he has. bee usual and at the end of the day's meiatce and adviser of bot Gore Inbours Conference circles were mans and French but his untiring' that the attitude rime Minister, Paes mare jenoaieed his mane day broth ons veers honda Edouard Herriot, had shown a Suid Pave tne"oae of the Sones sudden hardening: This change is Sues rook eutee attributed to his recent visit to uly 8 where ho had discussions draft agreement was. arriv-his Cabinet colleagues. ed at, it is understood, only after It is learnt that during the a lengthy battle of words between course of the day Mr, MacDonald the French and German representa-outspokenly pointed out the con-ives, the principal difficulty lying Sequences of failure. As a result in the conclusions regarding the the Germans finally increased the political clauses, figure of their proposed contribu-'The German' representatives intion to the European fund by half
their offer to a total of 25 millier a iibiard marks thus, bringing Objections. were offered rench, who insisted upon marks. use of the' word "fraternity,"
Tealy's newest proposals for the which aroused German protests. cancellation of all European reparations and war debts has only Eventually, all partes to the negotions, agreed upon the term Added confusion to an already coni-plicated situation.
Present economic conditions have The British point of view concern been taken into consideration, ing this new angle of the problem framing the was stated to-day by an authorita-stood, " with tive person, "He'said Britain was commencement already giving up a sum of £200,- Germany under the "new 000,000 and she could not be left standing is dependent upon the completely bare in the event of an return of at least some measure of (American demand for payment of Prosperity. the war debts due to her.
Britain, he said, was prepared to which Germany has agreed to pay Learned that the total sum treat Italy on the same generous terms as she was treated but she able" in' the form of bonds. These 8,000,000,000 Reichsmarks,, pay-could not be pledged until it was bonds, " however, will be issued Known precisely where she stands, intervals beginning in 1935 and "The French press this morning, ending. in 1947. state Reuter Paris messages, des-there is no revival of world ibos the, Italian proposals trade and. no improvement in Ger-torpedoing" the reparations con-Jmany's economic condition, so, that ference. [she has no capacity to pay, no bonds The Italian state mer will be issued, and if none have public late last night, stirred nce circles to surprise, chief elapsed from the date been "issued when 18 years has ment, then the German indebtedness on the one side bid for Ameri-will "be automatically erased and can sympathy, and on the other a dropped forever. It has been encouragement, for the German That no bonds are to. be issu for "Intractability.
Tin the Mahan statement, regret tee years, even if there return of prosperity, expressed at. the uncertainty 'The bonds are to be issued at 90, Hmong the 'European' nations "con: ie learned, of which the cash total cerning the settlement of war debts, which Gerniany would be required The statement also emphasises the to pay at a maximum will really fact that on the opening day of, the be 2,700,000,000 Reichsmarks. Hoparations Conference a clean 'A'S per cent. interest rate has alate was decided upon, and it adds been agreed upon, and the amortisahat "Wwe must take cage that: the tion. period has "been fixed at 37 hhegotiations do not make us lose light of the purpose of the Conte ears. siderable time was spent in nee, The settlement must be final arriving at a final text, and a blank ud cancellation applied equally to space was left in which to insert all the Buropean Bowers who. are the total sum of the settlement, ax {reditors and debtors of reparations well as otter blanks for disputed and war debts." phrases.—United Press.
July July 8.
Signor Dino Grandi, Italian Por-'The agreement reached finally ign' Mfingter and. chief buries the Young (Plan, under Seintry's delegation. to. the Repu which German payments' should' ations Conference, in an exclusive have totalled 111,589,200,000 gold Fntcrview with the United Press this marks between now and March 31, afternoon reiterated Italy's refusal {fo reduce reparations without a com-Breet Britain—Unieed Press. wnsatory eat int the Italian debt to held up the Repar: land caused days of fuctuatin hope uly 6. amely, the rman taken {owas unanimity-in the A big Anglo-Ktalian step has bee Political clause the French demand for a higher Parations discussions according to contribution to. the reconstruction Bemmumique issued by the Teallan pool, axe now settled. The preamble {to the agreement is' worded rather Gelegation to-da "his statement says that as a vaguely and refers to closing the sult" of convetsntions beta doors on the past.—Reuter.
Bignos Grand! and Mr. MatDont Id.
July eat night and this morning experts were putting the {or an understanding wan reached ing inter-European wae de finishing touches, to details in the mechanism of the treaty and its ralure to remove Ttalian mis annexes, the French Prime Minis.
"To avald eventual difeutdials of the Anglo-ttalian unter, M. Edouard Herriot, demanded to see the complete draft before! derstanding "were fed he entered into the question of necting of experts thie, mora figures.
"Thi understanding is taken" to semi-official German statement and the Ballan statement recent last night blamed the]
made. suggesting complete "intractability" of the French dele-Vashingout "of. futer-Buropean gates for the disappointment of Gober e point to which the British the German hope of treating the Gelegation could not agree in view of the possibility of America later eparations question in the wider framework of European reconstruc-Sémanalng payment of war debts. tion, and of securing the restora-July 7. tion' of mutual, confidence by the The fate of the Reparations, Con-removal of discriminatory clauses ference stll_hangs in the balance, from the Treaty of Versailles.
Segistering high, Hopes and. des ths nanometer of feeling a aly "Tt is therefore, necessary," Bat a Baouake Heriot, the Beech statement added, "to find a solution on' the narrow basis of reparations Premice, struck a more, cheerful only and further discussions will ote early this afternoon. be undertaken on the matter."
"fe had spent two, hours, with the it. Neville. Chamberlain, the German Chancellor, Herr von Papen, British Chancellor of the Exche-Sad tired but cheerful he told ans: quer, entertained M. Herriot and ously waiting pressmen; "Things
Text read from the printed page and cleaned; old type leaves the occasional error.