New-York tribune., 1922-12-14
Chancellor Opens Fight for
Industrial Leaders Back
ing for German Loan TO
Cover French Payments
Plans 10 Outwit SHINES
Mark Holds Own in Spite
of the Allies Rejection
of BerIin's Proposals
BY Joseph Shaplen
ny Rrellas o. The Ir1Hna

C.tvrlsht. 1929, Scw YORK Tribune jog.
pFRLIN. Dec i3.-Tho German COY -
MI TODAY began working out ne
n,,. r-parntions proposals which 20 ril
prefont 20 tho Allied Premiere when
tbev rcassemblc .n Paris January z
lhese proposals. whic1 are being
worked out in conjunction With leading
rcprcsentatives 81 German induatry,
will differ from tho London proposals
In that they will be eouehcd 90 more
concrete terms, particularly a1 regards
the guarantee. which according 90
Chancellor Cuno's original urolcc., 10
10 be given By German industry for an
internal German loan, part OF which .s
intended 60 cover payment 90 FRANCO
This time &c is expected Cuuo VIII
succeed .n obtaining definite action bj
the indu trial leaders showing then
willingness 20 cooperate in The Ger.
manAllicd financial settlement ard ii
necessary make sacrifices 90 further on
agrcemcnt.
Chancellor Cuno g. determined 20
carry % hnish his agE against huro
shines. 20 rid tho government OF VIVA.
BE terms conspiracy foI industrial
control 81 SIS policies. IN Tbs he nos
the support Of tho powerful anti
SHINES iaction represented Dy The VA
,ionni Asfociation Of German Industry
The association to-day formally an
nounccd that The "Dcuische Aiigemeinc
Zeitung's' statement, rcpudiating Ger.
many's proposals 10 the conference OF
premiors in no way represents the as'
gociation's opinion. and that % is ready
90 cooperate iu every way 90 carrJ
out the proposals. made hy thc govern
men.. The "Dcutschc Aligewelrc Lci'
tung" is Sfinnes'a chief mogthpirec. II
will be interesting nov 90 rec which D.
the stronger, Stianca or the govern
snent.
Premier Bonar laws reply 20 thc
letter With which the Chancellor sub
mitted the German prop 90 ths
/ Allied prcmicfs was received to-day
/ II states briefly the German otcr undo
| the present Circumstance g. not col.
culated % promote The desired solution
Of thc reparation problem. The CAB.
| inc .ow is awaiting the return @.
Kari -rmsnn, Germany envoy @
I lhe fe,-futioa discussion. before at
tempting O. whin the forthcoming Ger.
man sfcr into hnal shape.
IN tho facc of tae ALici rejection O.
Germany proposals aud Frances uu
Z shaken determination 90 occupy f'
Ruhr. the .Anrk % holding ils own r'
7 prsingly Wcil. To-day quotation y a,
sl.ghtly over 5000 30 The dollar. Tli.
Is regarded a. more remarkable wher
viewed .n ;hc light of the Rciehsbank'
rcpor, Tor the fret week in December
nablishcd to-day. showing the issue oi
nearly g3.000.000.0o0 marks In new pa.
per currency This makes Tho tola
Of rapcr IN circulation more thaa
$40 200 600 900 marks.
Financial su.hoTiiies are guanlmoY'
ia the belief however. tAat tho mar.
wiii Start on on unprecedented down
ward plunge with the new year clles.
Gre Allies and Germany reach an agree
meut al thc Paris conference convca
/ i0g January 2. which will make atabii.
aafion % German currency possible.
Widely published reports from Amer
lea, ouoting Pr dent Harding as urg
iag an am.ral .djus'mcnt OF the IN
tornatioull financial tangie and indi
eating America readiness 60 cooper
ate in ellis work. have had q powerful
influence for calm l Che otLerwis,
feverlah atmosphere developed by th,
brcak-up % .hr London conicrcace OF
Drfuierg.