4 MAY 1929, Page 47

LARGE PAYMENTS EFFECTED.

In view of the fact that at the commencement of the operation of the Dawes Plan the trade balance was against .Germany, it was feared that these powers of the Transfer "Committee might have to be exercised at an early period. As a matter of fact, however, right down to the present time, even when Germany has been making remittances at the rate of £125,000,000 per annum, not only has the German exchange stood the strain but last summer and autumn the- exchange was actually so favourable to Gerniany .that very large_ amounts .of gold, chiefly from thia country, went to the Reichsbank: • -