Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-07-10
GERMANS SEEK
s. DIFFERING OF
PAYMENT 18TH
Fifty Million Col d
Marks Due Allies
on That Date
Reichsbank Can Pay Amount
But Would Weaken Institu-
tiOn-Present Low Value of
Mark Also a Fact0r-Ger-
man Money Experts to Meet
Allies in Paris

Berlin, July S.-(By A. P)-The
German government has started an
action which incidentally may result
in absolving Germany from meeting
the payment of 100000 gold marks
required by the Allies on July IS, in
sending DR.. Fischer, chairman of the
German war debt commission, and
Herr Schroeder, under-secretary of the
ministry of finance. to Paris to confer
with the separations commission on the
question of readjusting the present
schedule of gold payments.
Although tbs move is considered a
temporary expcdient with the prime
purpose of influencing the delibera-
tons at Paris. official financial circles
would welcome this revision as indi-
eating a general solution of the pres
ent schedule of gold payments. -hich
Chancellor With has decided Germany
is in no position to carry out, partic-
ularly since thu recent coliaps. of Ger
man exchange.
Officially it was stated that the
Reiclrsbank was technically in a posi-
tion to deliver 50,O00,0O0 gold marks
next week but that their release from
hank vaults would badly expose" the
institution. whose officials telieve taat
this availabl2 gold fund should be de-
voted to steadying the marks at home
and abroad.
The mission undertaken by DR..
Fischer I'd Herr Schroeder at the in
stigation of the government will be
carried out in the hope of sustaining
the Reich sbc IS position. : le mission
will consido" le revision of the dates
for future gold payments. Any for
NAL request for an exact moratorium
will depend upon the nature of the
pourparlors al Paris and the accom-
modating attitude of the reparations
commission.
While official financial circles decline
to say if the present mission to Paris
is a direct outcome of the confer
enccs now going on in Berlin. banking
office bell Lat the progress 't'ch
has marked these deliberations in the
last few weeks : as contributed mate
rally l, enco::ro ling the German gov
eminent in its decision to approach
the separations commission at time
when marks are selling for less than
five Tor one mt.
THE question Can Germany pay"
has now become fundamentally acute"
said one prominent official who be-
lieves that the situation has simmered
to question Ct adopting practical
lucid financial policies which affect the
Allies and Germany alike.
Reports from New York that Ger
many had confessed herself to be
bankrupt were declared in official A.
rancial circles +" be 'irrcspo- ~ible ana
r;diculous.''
1T is not for us Germans to say we
are bankrupt. Such a verdict must
come from our creditors" one leading
official in the ministry of finance bb-
served"
Paris, July 9.-(By A. PA spe-
cial meeting y the chief allied powers
to discuss the situation in Germany
was foreseen l.: official circles today
after confirmation of the r ,rt that
Gerl. my is sending ENJOYS to re 1T
nifty ! yrlent. Wlnlr no allied c.,u :
Gil has bee. arranged for. the for
o;gn Offices are in CO. stsnt "ommun,ca-
tior. wit, eac other on the subjec-. 1t
is indicated tlat the separations COM
mission will 2rubably refer Gerr 5000
latest appeal Tor relief to the allied
powers.
The CO mi.:ec on guarantees which
has beeH investigating conditions in
T Rim for the rast month is expected
in Paris t'}is - k with complete re-
port on nc situation and on Germa-
ny's capacity to pay. 1t is believed
that report will play a promi- ent .art
in '''- dccis.o.' which he n ric l..
as all the Allies are represent l on the
committee.