The New York herald., 1921-04-28

Spectdi G0cie 20 ihH .skN hnhA N'fsnAi'p.
Copy1oht. 1891. by THE New YosK HnRALo.
New York Herald Buress,
President Harding's view on the Ger
man reparations offer may still prove a
factor In determining the action or nom
action OF the Allies toward occupation
OF the Ruhr region. which will be de-
cided upon during the coming week end.
There have already been several I'M
portant conferences over the text. as a
result of which the lineup Of the Allies
develops similar to that preceding the
last London conference.
Allied experts who are going over the
German note to-day find the following
questions to be doubtful:
/. IL Germany extends her payments
over a term of years to total 100000
900, 900 gold marks. which represents
fair approach TO the Paris figure OF 2z6,-
000. 900, 900 gold marks. what Is her
scheme for annuities? IL. for instance,
this represents payment over an abb
surdly long number of years or at an
absurdly low interest rate II will pe
impossible to accept the offer.
2. Full details OF Germanys proposed
loan must be at hand before an ade-
quate opinion Is expressed. II has not
been forgotten here that this was pro-
posed the last time under detailed terms
of preference In allied countries which
made the issue impossible.
8. The suggested interest rate of 4
per cent. implies that Germany is seek
ing international fayors for this loan.
- .$a1 ns,1tr ut hA not
of sacrifices of either her own domestic
credit or by fictitious and impossible
market support This is one Of the para
graphs which casts a doubt upon the
entire proposal. as the Allies themselves
now are paying twice the proposed rate
for their own borrowed money.
T. Does the suggested participation in
German future prosperity include or eX-
clude payments under the determined
scheme outlined in the previous para
graph? IT is pointed out that the Paris
plan, which demanded a IL per cent. tax
Of German exports, is analogous to this
proposal, but the IL per cent. was in ad-
dition to the total of 226, 900, 100000 gold
marks.
s. II the special note addressed to the
Allies giving further details means the
note published here Friday, It is admitted
that this is a substantial contribution TO
what Germany should pay.
6. What does Germany mean by
further payments on purely CONNER
cial basis?"
7. Fuller details are required relative
TO this proposal explaining how drafts
are TO be arranged. how bills are to be
exchanged and paid and full explana-
tion as 10 how this fulfils, IL 1t deos fulfil,
Gersnany's cash default recorded by the
Reparations Commission.
s. Full details OF the proposal are re-
quired before an opinion can be ex-
pressed
.. The disposition is entirely TO refuse
this proposal, the Allies believing that
their experts have estimated correctly,
and Germany has no appeal from this
10. Fun specification OF these guaran-
tees must be submitted in black and
white.
Paragraphs IL and IL. taken together
with the general proposals following.
strike at the root of the entire proposals,
according to allied experts. IL the Al
lies were to sign these 1t would strike
from their hands every weapon they
have against Teutonic treachery, In
(which they have been we'll schooled "by
four years OF war and three years or
'peace