Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-04-12
EXCHANGE DIRECTOR
IN NEW DEBT PLAN
GIVEN WIDE POWER

PARIS, April 10.-.By The AS
sociated Press. 1.-The installation of
a worlds exchange dictator, who
probably would be an American, Is
one of the most significant pro-
posals in the reparation experts re-
port. The proposal would create an
agency for reparation. Payments
consisting of IAN agent for repara-
ton payments and five persons
skilled in matters rela ting TO for
eisn exchange and finance, repre-.
senting five of the allied and as
ISOLATED powers" namely, United
States, France, Italy, England and
Belgium.
by the PREPARATION commission after
consultation with the members OF
the general board or the bank Of is
sue of the same nationality.
The president of the committee
Ghe agent for reparatssn payments).
also would be appointed by the rep
ara alton commission and l. is con-
sidered that if he should be a. strong
man he would direct the committees
work and be in himself the controller
Of the transfers from the new bank
Of issue to the debtor nations, choos-
ing the time and means, out calling
together the members OF +he COM
mtttee from time to time ior their
approval.
1t would be in part the business
Of the committee to go into the
world exchange market and buy for
eign trade balances to be used i'll
the transfers for reparation pay
ments. The committees representa-.
tives would most likely be stationed
permanently in New York, London
and Amsterdam, so that the head
of the committee, whose office
would be in Berlin, would direct the
contact with the great exchange
markets.
This official would, most likely,
be a neutral, probably an American,
because it was declared in the ex-
perts' discussions that only d neu
trail financier would have sufficient
detachment from Germany's credi
tors to be able to exercise properly
the immense powers bestowed upon
him.
The dangers of such Dictator
ship were discussed at length by
the experts committee, but it was
concluded that such a control must
be adopted in order to avoid other
equally dangerous contingencies to
which allusion is made, in the re-
port.
American investors would be
asked to lean the equivalent Of
100000, 600, it transp'red in the con.
versations among the experts, or
about half the 500, 200, 900 gold marks
to be raised by external loans and \
paid into the new bank Of ISSUE for
currency stability. American finan.
ciers would be requested to under.
take such a loan for two reasons.
solutely secure, because the loans
are so small that Germany would
in no event fail to meet them, and
secondly, because the purpose OF
the loans would add to the soliditX
of the international fabric OF
finance. The interest rate would
probably be IL per cent.
FRENCH CIRCLES PLEASED
WITH DAWES FINDINGS
PARIS, April 10.-(By The AS
ISOLATED Press. )-After twenty-four
hours consideration of the reports
of the two reparations committees.
spokesman for official circles today
declared no official opinion had been
formed of the recommendations con-
tanned in the documents. Satisfac.
ton, however, was freely expressed
that the experts had found evidence
tending to confirm the French at.
titude regarding Germany.
DAWES PLAN IMPARTIAL,
DECLARES STRESEMANN
LONDON, April 10.-The German
foreign minister. DIR. Stresemann,
questioned by the Daily Express
correspondent regarding the report
of the reparation experts, is quoted
as saying:
NV colleagues and myself are
carefully studying the momentous
document. 1t is too carly yet to
make any comment beyond saying
that we realize that the report is the
product of earnest and impartial
study by a body Of men who are
anxious to solve the repatriation prob
lem.
1--WE approach our study Of the
report with absolutely open minds
and with conviction of the impartial
ity of its authors.
BERLIN PAPERS URGING
CONSIDERATION FOR REPORT
BERLIN, April 10.-(By the Assoc
cfated Press. 1.-THE bulk of the edI-
torial comment published in the Ber-
lin papers today inclines to the opIn-
ion that the report Of Brigadier Cen
eral Dawes expert reparation COM
mittee constitutes a basis for nego-
tiations. Only in the isolated in
stances of the nationalistic organs is
opposition voiced. and even there the
familiar cry of Unacceptable"
which has greeted past plans is Who'll,
ly lacking.
Hugo SHINES Deutsche Allgeme-
cine Zeitung declares it behOoves the
German government to give the re-
port collective and intensive exam
inaticn," Vorwaerts says its rejection
would De a catastrophe piece OF
stupidy on which the French i'm
Oeri3liStS" unoueStiOnab lv are sDecu-