Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-04-15
REICHSBAVK'S HEAD
SEES SURE SUCCESS
FOR NEW DEBT PLAN

BERLIN, April 13.-(By the Asso-
ciated Press DIR. Hjalmar Schacht,
president of the Reichsbank and fed
eraI commissioner of currency, de-
clared Saturday that he viewed the
experts report to the reparation
commission as forming a satisfacto-
ry basis for reparation settlement
negotiations.A
1.-The report is essentially an
American document" said DR..
Schacht, who frequently was called
irtc consultation by General Dawes
ana his associates in the investiga
ions.
1T is direct and businesslike, and
shows the great influence Messrs,
Dawes, Young and Robinson exert
ed" he continued, land in my opin-
ion is a satisfactory basis for nego-
tiations looking to a settlement Of
the PREPARATION program growing out
Of five years OF war and five years
Of postwar Wrangling, which have
resulted in wasting five billion gold
marks in occupation costs.
1.-The most essential section Of the
report" DR.. Schacht added, lis
article 3, page 4, which definitely
provides that the military occupa
ton of the Ruhr shall cease. That
section provides for clearing the at
mosphere of politics, sanctions and
military penalties, and overshadoWs
all other details in Importance"
Way to Discussion Open
"It paves the way for a discussion
of economic problems in Il frank,
open, American man-to-man style,
and hope that General Dawes direct
methods will be followed III all the
discussions.
Coal can not be dug at the point
of bayOnets. and with miltarispI
eliminated from all the territory not
occupied under the Versailles treaty
the depression caused by the presence
of foreign troops will be wiped out
and Germany will be able to regain
economic and industrial efficiency"
DIR. Schacht said there were many
details of the report with which he
was not sympathetic.
He thought the amount asked
from Germany was, too heavy and
declared it a pity that an actual
moratorium was not provided. He
expressed the opinion that foreign
ers were too numerous on the di.
rectOrate OF the new bank of issue
provided in the report, but declared
that all these handicaps could be
overcome if article three were adj
hered to literally.
Asked how long it would require
to place the experts recommended
tons into actual effect, DR.. Schacht
replied that it could be done lin
ninety days or even less"
The proposal to mortgage the Ger
man railways, he said, was the best
worked out part Of the report and
could easily be made effective with.
out extensive reOrganiZatiOR.
Exchange Plan Praised
Addressing committee meeting
of the economic council of the reich
today, DIR. Schacht characterized the
standpoint of the experts that trans
fers of reparations abroad should
only be made when German ex-
>'''NAis@C NCuitt IlOI SItLIeI IDeIeDN, as
the keystone of the economic side
OF the problem and as at least es.
tabllShing an automatic settlement
IN place of political and military
cOmpulsion.
He described the report, despite
the heavy burdens it involved, IS
capable of being discussed under
two conditions. first that Germany
should regain her economic free
dom, and second, that in event of
tufillment being impossible, mill
tary sanction should not be applied
immediately. but that there should
be- instead, a joint consultation be
tween experts on both sides.
he asserted that freeing the rep
aration problem from politics and
mllItarism was viewed by the Ger
mans as an excellent thing, and
likely to be of great importance in
aiding the resumption of economic
relations between the nations.