The Monmouth inquirer., 1923-04-26
PEACE URGED
AS MARK DROPS
Falls to $4,000 to ST; 50,oo0,-
100000 Gold Marks Named
by Ruhr Allies as Debt.
UPSET cHANCELLoR'S PLAN
German Socialists Insist on Definite
Proposal to AIIies-Beriin Hears Of
Differences Between Finance Min
lister and Reichbank's President.

Berlin.-Hopes of a new German
reparation offer rose here at the same
time that the financial front, with
which the Reichsbank for two months
has held the mark at a stabilized level
and made the passive resistance cam
paign possible, collapsed with shatter-
Ing, cataclysmic ~suddenness.
Reports reaching here that the Fran
co-Belgian commission at Paris has
drawn up a new settlement plan on its
side, setting the total German indebt-
edness at so, 900, 100000 gold marks,
served to shed a few rays of optimism
on the Berlin scene. This proposition
is one which, if authentic, it is evident,
will meet with a most favorable re-
Spouse here.
simultaneously arrival Of an official
from the German embassy at London
with what we'll informed persons as
sert to be a message from Bonar Law
urging the government to submit a
new definite reparation proposal gave
great impetus to the demand that Ger
many officially record herself in this
connection.
Financial writer's are frankly a little
at sea as regards the sudden turn OF
events and the wild scenes in the mon
ey market to which it gave rise One
explanation is that the industrialists,
1870, ox,o~ tho oolIopcn re domestic
trade and lack of foreign credits for
purchases of raw materials abroad,
have initiated what is generally con-
coded to be a huge financial battle
with the intention of bringing the
mark down to a lower level than the
one at which 1t has been maintained
since organized resistance to the Ruhr
occupation was undertaken.
Another expert explanation offered
is that the Reichsbank, which has re-
Gently exported 1876, 900 900 additional
gold marks from its reserves, is going
to let the mark take care of itself for
a time, having found the present cam
paign too expensive, but will swoop
down on the spectators in over
whelming force if they go too far.
However this may be, the panic and
somewhat VAGUE fears of impending
doom are genuine enough, and a spe-
cial cabinet meeting was held to dis
cuss the situation.
For the general public, however, and
to a great extent in Parliamentary and
financial circles as well the sensation
al collapse of the "Havenstein finan-
cial line has, at least for the time be-
ing, thrust every other consideration
into the background.
1t is understood fear of the Nation
asst element constitutes the strongest
reason for the position they are main
tanning. According to advices from
the highest sources, they would prefer
resignation to yielding OF this point.
Party leaders have no wish, how
ever, as DR.. Breitscheid, Socialist lead
er, put it in the Reichstag debate. ITO
pull their chestnuts out of the fire for
Them and the pressure for action On
the part of the present government is
being increased from all sides.
The four chief proposals suggested
for a definite offer are:
1. That Germany address a direct
proposal to the R%eparation Commits
sion.
2. That the foreign minister an
ounce a diinite %reparation sum Ger
many is able to pay and offer France
also a share in German industry.
8. That acceptance of the Hughes
settlement plan be combined with the
naming of a definite sum and the sug-
gestion that the mode of payment be
determined by al international com
mission.
4. That Germany address an official
request to England to take the initia-
tive in bringing Germany and the al
lies together.
The second of these suggestions, it
is understood. would meet with strong
French support. Both the SHINES in
du~strialists and the Socialists here are
most favorably inclined toward the
third plan.