Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-02-21
BAIL MORTGAGES
ON GERMAN ROADS
PLAN Of EXPERTS
International >FinancierS Are
Charged With Attacking
Falling Franc as Sterling
Rises Bourse Closes


ciated Press 1.-The expert commit
teemen examining Germany's re-
sources have reached general
agreement on their report to the
PREPARATION commission, according to
information from authoritative
quarters today
They have decided, it is stated,
that instead of the formidable loan
to be placed on the international
market previously suggested, a mort
gage of approximately ten billion
gold marks on the German railway
system and other sources of revenue
OF the German government, shall
form the basis of a plan by which
the allied countries, especially
France, will derive regular payments
Of interest
The mortgage bonds to be issued
would be a first lien on the railways
and divided among Germany's cred
itors on the basis of the percentage
adopted at the Spa conference in
1920-Grance 81 per cent; Great
Britain IS; Italy 10; Belgium 8, with
the remaining per cent divided
among the other allies.
Small Loan Planned
A relatively small international
loan will also be recommended to
help Germany set up the proposed
national gold issue bank. In this
loan American finances will be asked
to invest. It's amount remains to be
fixed but it will probably not ex-
coed 100000. If the plan is ac-
cepted by the allied governments
part of this loan will be Offered in
the American market.
The proposed mortgage on German
resources would not involve the adj
vance Of any money to Germany by
the holders of the mortgage securi-
ties but it would be represented by
the issue in Germany of marketable
German paper guaranteed by those
resources. The interest rate will
probably be 6 per cent.
French Share Given
On the basis proposed, France,
whose share of the mortgage bonds
would be 5,2OO,OoOO 600 gold marks.
would receive S12 200. 600 gold marks
yearly.
The mortgage securities, according
to the plan, would be transferable
by Endorsement Of the receiving gov
ernments if they saw fit, and if a
market could be found for them.
The experts express belief that this
plan would create real asset which
would be received with accommodating
confidence as the quarterly interest
payments were met.
The bond issue is involved to some
extent with the occupation of the
Ruhr and France would be expected
to withdraw her civilian organization
there.
If the military occupation contin-
ued it would be of the slightest char.
acter.
FRENCH THRONG STREETS
AS FRANC FALLS
PARIS, Feb. 19.-(By the Associ
ated Press TIC spectacular fall of
the franc on exchange has aroused
the French people to a keener sense
of the realities than has been mani
tested since the armistice.
Groups of people crowd the side
walks in front of windows where
placards register the fluctuations in
the money market and the steps of
s@the bourse are crowded as never be-
: fore by curb brokers and their eli
ents eagerly watching the quotations
or pressing into the throng around
the blackboards to unload stocks
and bonds that have become unde,
sirable or to buy the leading specula.
tive shares.
Throngs equally great and equally
excited assemble around the Bourse
of Commerce where the reaction of
exchange on the prices of commodi.
ties is discussed with animation.
FINANCE Minister De Lasteyrie is
under sharp fire because he waited
until catasphrose came to the Frace
beIore taking action. NJ Rebel. min.
lister of the liberated regions is held
responsible for the so-called scandals
IN these domains, because it is
thought he could have stopped them
Il they really exist, or by proper NH.
hclty could have prevented the OK.
p!oslon caused by the socialist At.
tacks.
NJ. Raiberti, minister of marine
came In for severe criticism for the
loss or the airship DiXmude and the
battleship France.
M. Cheron, minister of asricuf
ture, is bombarded from all sides. ex.
cept from the farming regions. for
MS alleged Partially to the agri,
cultural interests.
Many close observers of parlia.
mentary procedure believe the pre-.
mler's prestige will not suffice much
longer to keep the government to
gether even if he is successful in
putting through the proposed fiscal
measures.
The possibility of his fall causes
consider2t , WORRY among conserva.
tives alls- ~,oderates in parliament as
well as III the general public NJ
Poincare's local successor would be
from the radical or republican-so,
cialist party and no man in sight
appears to have enough strength in
the present chamber to last very
long.
Gustave Herve, former Socialist
leader and editor in charge of the
newspaper Victorie, which until the
past few days has been strons
government organ. calls for a die
tatorship by President Millerand.
Meanwhile. Premier Poincare to-
day resumed the battle for the po'
litical life of his government into
which he entered four weeks ago in