New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1923-05-02
IF ALLIES REFUSE
new GERMAN Offer


tcontinued from FIRST RACER
forces in gouehsafing securities of a
satisfactory nature,
Payments In Kind
Payments in kind are to he guar
anteed by long term private contracts,
breach or violation of which would
make offenders subject 10 fines,
The note proposes that the first co.
IAa, 100000 marks of the total of s0,E
400, 000.00 be offered for subscription
Immediately, Interest on bonds up 10
July l, 1897 would be taken out OF
the loans under control of the repara-
ton commission, " 10000, 006,0 600
marks cannot be raised by means of
loan before July l, 1917 interest of
five per cent would be paid on that
sum from said date, In addition to one
per cent for amortization,
Home Policy Unchanged
The note asserts that Germany is
making her offer without desistihg
from her program of passive resist
anee, which will he continued until
the areas occupied In excess OF the
stipulations of the Versailles treaty
are evacuated and until conditions on
the Rhine are restored according 10
the terms laid down In the Rhineland
agreement,
The offer OF an anti-aggression pact
on the Rhine Is renewed and the gov
eminent suggests that all conflicts
arising out of the question OF national
security be submitted TO an interna-
tionaI court for arbitration.
Money Must BE Stabilized
Fulhllment of Germany's obligation,
the note continues. depends on the
sterilization OF her currency: there
fore II In necessary In connection with
the regulation OF the reparations
problems to bring about a methodic
and permanent sterilization In order
10 remove the apprehenslons of other
countries with respect TO rninous
German competition. Strengthening
OF her currency will also enable Ger
many TO restore her internal finances
the note points out.
Opposes More Force .-.
In order to realize this program
and also to safeguard THE interests OF
those who finance the loans, the Ger
man government says II Is essential
OF securities that no further sanctions
be imposed. that Germany be freed
from the unproductivc expenses with
which she Is now burdened and that
she also be liberated forthwith from
all political and economic restrictions.
The proposals also suggest that III
behalf OF the economic rehabilitation
OF Europe the countries concerned ar
rive at an understanding with regard
to dealings in important commodities
The note expresses that opinion that
in this connection long term private
contracts for deliveries Of coal ana
coke are especially important
With regard to the two proposed
loans Of 00O,000.000 marks each, the
note proposes that in case these
amounts cannot be raised fully by is
sues of bonds at normal rates before
the dates fixed an impartial interna-
tional commission shall decide
whether, when and how the amount
not yet accounted for is to be raised.
The same commission would de-
eide in July. 1881. whether when and
how after July IL 1923, the interest
not provided for in the first sub
stance is subsequently to be raised.
As to the makeup of this commits
sion Germany proposes that 1t be
either the syndicate which put up the
first loan Of 30, 900, 100000 or COM
n,ittee of international businessmen
chosen according to the suggestions
Of Secretary of State Hughes--a COM
niittee on which Germany is to be
represented with rights equal to those
of the other nations repre- sented.
AS the third alternative the note
proposes court Of arbitration COM
posed of a representative of the rep
aration commission and a representa-
tive of the German government to-
gether with chairman whom the
president of the United States would
be requested to nominate in case the
other two members failed to agree as
to the nomination.
The note begins by emphasizing
that the questions upon which de-
pend the reconstruction of the devas-
tated areas and the restoration of the
sound economic life and peace of Eu-
rope can only be solved by mutual
understanding
Object TO Occupation.
The occupation OF the Ruhr. the
official declaration states is diametri-
caly opposed to such aspirations. and
it therefore provoked the passive re-
sistance OF the Runr population.
THE German government" the note
continues, SHARES the sober minded
desire OF all people that the daily in
creasing tension be relaxed and the
wanton destruction OF economic values
cease. The German government
therefore has decided to make an
other attempt to arrive at an under
standing without, however, abandon
ing its legal standpoint or desisting
from the passive resistance which is
to be continued until the areas &C.
cupied in excess of the stipulations Of
the treaty of Versailles have been
evacuated and the conditions on the
Rhine restored according to the
terms of the Rhineland agreement"
Want Elastic solution.
The note stresses the difficulty of
arriving at tangible basis for COM
putting Germany's economic and finan-
cial capacity in her present situation
and it declares every solution must be
sufficiently elastic to take this condi-
ton into consideration.
The note contains recurring sug-
gestions that American recommends
lions in respect to the adjustment of
reparations be adopted
Reference also is made to the Bryan
agreements for the arbitration of in
ternational conflicts. This Is in con-
nection with the so-called securities
demanded by France.
Bid For U. S. Participation.
h Av,1a ri n