11 MAY 1929, Page 1

Before we come to the surprising proposal which upset this

fair prospect let us look at the figures of the latest German offer. Germany would make 37 annual payments at an average rate of about £103,000,000. From the 87th to the 58th year she would be responsible for the amount of the inter-Allied debts, but the International Bank would say exactly how the transactions were to be carried out. This would mean a payment of £85,000,000 annually for the twenty years. Then there would be a final payment for one year of £45,000,000, and Germany would be credited with the profits of the Bank and with any reduction in inter-Allied debts. The unconditional payments which would be made by Germany in the first 87 years would be at least £82,500,000 a year. About £500,000,000 could thus be commer- cialized for Reparations proper. * * * *