Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-27
PREPARATIONS BODY
DISCUSSING CASH
Ciphering Is Tentative, While
War Debt Is Divided Into
Three Categories.

By the Associated Press.
PARIS, February 27.--The repara-
tons experts are now beginning to get
down to the discussion of actual fig
ures, particularly as to cash transfers.
Owen D. Young, in presiding over the
full committee has avoided having def
mite sums brought forward by either the
Germans or French members, because
the French figures might have meant
defiance by the Germans and the Ger
man figures derision by the French Mr..
Young. J. P. Morgan and Thomas w.
Lamont exercised on all their influence
in preventing anything like an ulti-
matum.
Morgan Plans Trip.
Sir Joseph Stamp, British banker, and
j. p. Morgan, American, will 60 to
London before the week is over and it
Is not likely the other experts will un-
dertake any new concerted action while
they are gone.
Sir Josiah's visit is said to be to at
tend an important bank meeting while
that Of Mr.. Morgan is to spend some
time at his London house.
Mr.. Morgan's departure will break
somewhat into the work of the Revel-
stoke bankers committee which Is
considering commercialiZation of the
reparations debt This subcommittee,
which includes Emile Moreau, head of
the Bank Of France, has been working
secretly since last Thursday, it is now
learned.
Now that the reparations total has
been divided into three catagories-un-
conditional cash annuities, conditional
cash transfers and payments in kind
the experts are freely discussing actual
f1gures, although the ciphering as yet
Is merely tentative.
Stand of Germans.
DR.. Hjalmar Schacht, president of the
Helchsbank, who has one continuous
purpose in mind-the protection of Ger
man currency-has minated that Ger
many ought not to be called upon for
cash transfers of more than 100000 900
gold marks approximately 1892, 000,00O)
or at the utmost 1000, 900, 900 (approxi-
mately $240,000,00O.
The debtor members of the Subcom-
mlttee, discussing this question, talk of
1,500. 600 900 marks unconditional pay
ments, which would just about pay the
debt annuitieS due the United States
from the allied powers Ultimately, it
Is thought, the unconditional cash
transfers will probably be fixed some
where between a billion and a billion
and one-half
The other two subcommittee dealing
with protected cash transfers and pay
mentS in kind have somewhat easier
problems. The French view is that the
total in the three classifications should
total at least $500, 900 900 marks, which
amount is being paid in the current
Dawes plan year. DR.. Schacht'S effort
is to keep down the amount of un-
changeable cash engagements and to
insist less strenuously upon the pro-
tected cash transfers and the payments
In kind.
The German experts have been re-
minded by some Of their fellow COM
mitteemen that Germany in this most
difficult year under the Dawes plan has
total payments in cash and goods
amounting to q per cent of her budget,
while England is paying 60 per cent of
her budget for service on the national
debt and France so per cent.
A point which is being suggested to
the allied experts is that it would be
better to make good deal in kind
rather than unduly insist upon rigid
money annuities.