The New York herald., 1922-08-24
PREPARATIONS TALK
MAY CLOSE TO-DAY
French Demand for Guaran-
ties From Berlin Opposed
by Chancellor.

Special Cable to THE NEW YORK HEaALn.
Copyright, 1929, by THE NEW YoaK HERALD.
New York Herald Bureau,
Berlin, Aug. 23.
1t has become Increasingly evident
that the conferences which the members
Of the Reparations Commission have
had with the Government have been
without result and it Is reported that
they Will close tomorrow Although NJ.
Mauclaire. chairman of the guarantees
committee, finally obtained Sir John
Bradbury's support for minimum de-
mand of productive pledges, Chancellor
Wirth remained unresponsive and did
not make counter proposals.
The Allies have noted difference of
opinion between Chancellor Wirth and
Andreas Hermes. Minister OF Finance
The latter showed an inclination to
make practical proposals showing Ger
manys willingness to meet the French
half way. But Chancellor Wirth kept
opposing any concessions to Premier
Poincare's scheme for productive
pledges.
group OF manufacturers including
the Krupps and certain manufacturers
of dyes and potash would follow
the conciliatory policy of giving pledges
rather than provoke sanctions. Chan
cellor Wirth gives the impression of an
extremely tired man heading a Govern
ment overwhelmed with the political
and financial dangers that are threat
ening 1t. These dangers are reflected
In the drop of 200 points in Hhe mark
during the day.
The people are again besieging shops,
which is symptom of there being no
further price standard. The owner OF
each shop uses his fancy in fixing
prices while the wares are disappearing
BERLIN, Aug. 23 ASSOCIATED Press).
French insistence that a moratorium
can only be extended in return for GER
man guarantees, capable OF easy liquida-
ton. or which could be designated as
quick assets is one of the stumbling
blocks in the present conversations, 1t
being reported that France is demand :
ing prerequisites of a nature which
English opinion not only believes un-
feasible, but which Germany could not
possibly accede TO without seriously in
terrupting her whole process of economic
production.
The Bourse IS the least enthusiastic
Oh any FACTORS which might allay the
public mind, and dollar exchange to-day
hit the new high spot of 143S officially.
while post-Bourse trading showed 1870.
Twenty mark pieces, which have usually
Jagged far behind the official rate for
paper, were sought to-day at a figure
ranging between $500 and $500.
The outside world has lost faith in
the prospect of an early adjustment of
the reparations problem and German
nnances and as a result is unloading it's
holdings of marks" says Vorloaerts.
which deduces from this that abroad
such thing as German currency has
ceased to exist. The Socialist organ
sees an era of unemployment as an in
evitabie consequence OF the presnt cur
rncy depreciation. as German industry
will be unable to adjust itself to the
slump in the mark
While the French are reported to be
demanding immediate surrender of coaI
mines and timber lands so soon as a
moratorium becomes effective. the Eng
lish viewpoint is opposed to giving such
guaranty as an immediate condition
OF respite In payments. bur the English
would agree to accept Germany's guar
anty that, she would surrender these ne
soon as she defaulted in coal and other
deliveries.