1919-06-17 — Page 7

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WAR INDEMNITIES. IMPOSSIBILITY OF MAKING GER MANY PAY IN FULL.

MR. BONAR LAW'S "STATEMENT,

means.

+

comes to be when translated into actual figures. We have got so used to talking in thousands of millions that we hardly realis

what it me (Hear, hear There was a proposal suggested that a larga part-£300,000,000, I think could be got by labour in the devastated coun- tries do not think that anybody who In a debate in the House of Commons uses a figure like that can grasp the mean- on war indemnities Mr. Bonar Law, re-ing of it (Hear, hear.) plying for the Government, said:-In] regard to the amount, our aim is to get everything that Germany can pay There has been a great dent of discussion about the use of the word reparation and in- demnity. My view, and the view of the British Government, has been that in any logical meaning of words there is no dif ference between the two as long as you mean by indemnity the cost of the war. I do not care in the least whether you

Three indred millions means, if they are paid something like a week, the labour of 13,000,000 ° mọa for A Year. Waen one, talks of using labour on a scale like that, is is not obvious that if there is unemployment or a possibility of un- employment in the country to which the labout is s proposed to be sent, people will Bay. This work is being taken out of say.

mouths

I believe there is no our country in Europe whih would stand_the presence of such a large number of Ger- mans, if it were possible, doing work of this kind, which should be done by the

country.

call it reparation at indemnity, m lies People of our o

of the co

many.

make up a large total a difference in the usa and are faced with difficulties of that

as we get all that we can get from Lier-

There is of the words: That has no relation to our kind, it is very difficult to arrive at a dealings with the

but it has rela-figure. One of the items mentioned by enemy, but tion to our dealing with our Allies. As my hon. friend was shipping. I did not. that is a proper

to the amount, you must have some intel-Bean exact figure, buthink the total

ligent method of finding out what amount subject for security. can be paid. We have done that, we have value is appointed A Int.-Allied Commission, bave not the thing like £150,000,000-1 exact figures yet--but it takes which up till yesterday had not reported.u groas deal of that to reach these and no decision had been taken as to the gigante hores. If you take the first step. amount to be claimed. do not at this

of this problein, which is the easiest-the moment know what amount will be put amount could be raised by taxation forward the Allies, but I put it to in Germany-I think there is a limit to the House that you must assume that our the possibility of internal taxation and of representatives are as keen as anybody

what that limit is requires an amount

very expert. to get the largest amount possible, and examination which only that the subject is being examined from people can give. that point of view.

"It is necessary to assume alse that our Allies are equally anxious to obtain the largest amount possible."

Mr. Kennedy Jones: Does that incluck America? Is she ope of the Allies

Mr. Bonar Law: In this question Ame ries has not the same interest as we have Of course, she is a party to the treaty, and what we do will be done Lay

pay 7

13,

of

to

SURPLES GERMAN EXPORTS.

But that is only half of our problem. Supposing we could get a very large indemnity raised in Germany, how is it. be transferred to the Allied countries?

arguing in this way would not be thought that what I was doing, would

effect

in have any

reducing the claim which will be made on Germany. I wish it to be as large as

but I think the it well that the House should look at นส. What is the amount Germany can difficulties of the situation. In what way car money or value of money be trane House. here, are, two things which the

to keep clearly and dis

ferred from one country to another distinctly

know

You can in mind in examining this question. The

of only three methods. question. 200

send it by gold or securities. You can what is the amount Germany sand it, by goods or service. first

Or you can what pay in

in Germany that is to amount of taxation or anything else she get it to a certain extent by credit in can be made to impose in order to obtain foreign countries.

tribute which will be

be paid to the Allies in Germany The question of transfer ring money from one country, to sauter is one of the most difficult „problems of Enance.

At one time while I was at the Treasary

it looked as if within a very short time we would be at the end of all the ordinary methods of making par chases of ammunition, etc., in America, Terrible as our war debt is, our external exports. The balance was the wrong way debt of $1,000,000,000 will possibly prom but, of course, that included returns of Theão shipping and foreign business, greater,

handicap upon our true pro may still to a certain extent remain ber bigger obstacle to the recovery of our

as I hope, ships are taken perity than

the whole of tinct toe of the businesses Germany had abroad are

internal many, and if, as we know, a great debt. It is

is necessary to keep amount of tribute that can be paid by taken away, these figures will disappear. Germany in Germany and the amount You are reduced, therefore, to what can that car be transferred to the Allies

be done by surplus of exports over im porta

Д

I do not wish to argue the amount that can be collected in Germany because there seems to be an idea that if you have doubts about, arithmeticni calculations you are friendly to the Boche. (Laughter.)

WHAT IS POSSIBLE.

This is a mistake. We have to look at this thing not from the point of view of sentiment, but from the point of view of what is possible. The hon. and gallant gentleman who introduced the motion sont

To get anything like the large amount we would wish to get it can only be done by surplus of German exports over im- There is no other way. Taking the average for five years before the war, porta. there was a balance of £70,000,000, or about that, "of German imports over

from

many

Mr. MacMaster: How did the French P. Benaz Law. My friend knows that as well as I do. The amount was £200,000,000 (ers) They paid by length of time. It can only in the long exports and by credit over a certain

You have an be paid by exports. remember that this country at least will not want to receive these goods if they

that

to us. If she exports to any

to

coun

a memorandum to mo. I read it with are in a form which will compete with interest, and sent it to our representatives our workpeople. (Cheers.) But

what Germany can pay us is 200 at the Conference. I have not heard who. Wh

restrict ther it has been of any assistance to thered to the.

exports Germany directa (Laughter.)

other puts the amount Gerry the effect of the world exchange is H many can pay at $25,000,000,000, and his method of meeting that is 10 103 at Ger such that it can come to us. The other

£8,

8,000,000,000. Thes

method to get money transferred is by many has a deb of

That is

is a real method, but it can safely pay that, so we will wipe the credit. £8,000,000,000 off the £25,000,000,000.

might last a long time. That is my view. Colonel C Lowther: That is grossly America was in that position; she was unfair.

said that we can transfer the

unable to export enough pay for the means by which they could pay the capital sent to develop her country inside. interest on their debt to pay the interest She paid fps it by éredit, and it extended

over many years. on ours. That is a very different things

Bonar Law: That is precisely what

I put before the House my views on the Colonel C. Lowther: No it is not

difficulties of the subject. It has been tha Mr. Bonar Law: I beg the hon. member's duty of our experts to try to get over pardon; it is. He took the £8,000,000,000, these difficulties. They have been spend and so Germany must obviously have thing weeks ingoing into every conceivable means to meet that, and therefore we can

way in which Germany can pay what we wipe off

£8,000,000,000 from the all admit is

I do not know £25,000,000,000.

the amount will be I hope

it will be The House will understand that £.m not now finding excuses for making then amosat well worth having. I quite As 1 remark realise that in dealing with a complicated amount smaller than it is.

nomic subject like this it

it is impossible with it in a speech euch as with regard to the financial position of Germany, which I analysed as closely as before the House the considerations which I could, I said that if British financo

from the

I said

o the

NOW WHOLE COST OF WAR

what

ed in my Budget statement a year ago to delivered I have simply tried to put

Бато

were in the same position as that of Gar. I have been before my ich prevented

beginning, considerations

many I would consider we were on the me at the election or any other time from verge of

my boa, friptcy. The next point of hiding out the bope that Germany would

is that Germany will have be able to pay the whole cost of the war. 30 army now.

The French and the Italians have just as Colonel Lowther: May. I have a chance much interest in getting, the of answering that, because i particularly sible amount as any of left out the

Best-pcs-

hear.),

the examination of these figures. You have got to trust to somebody to The Speaker: The her member must examine

country. Whether the Amount is

is amaller

not be so susceptible to criticism, but, like examine the matter in the interests of this everybody else, harden, his skin.

Mr. Bonar

Law: I really do not think I am treating my hon. friend

It

there

or lagarthan 1 hope sam prepared in to any cut the people who dre examining into the matter are better able to judge than I, and

na ilustration of the diffiente/y own mine.

ז

only may

Khall isationė of dealing with the subject when you come

that they have got the correct amount. to a concrete statement. The next point At the election one of the things pointed be raised is that as Germany has no out by the Prime Minister and myself was Jonger any army to pay for, forty millions that the Peace Treaty would not be die- ought to be enough to run the Goverment cus

or the of the country That as she raised 200 used either on the platform

House of Commons: What we asked the millions before the war there wald 10 country to do was to return to power a millions available now. We should ro

Government which they would trust to act member that Germany's civil expenditure for them and

nds in their interests at the wits 150 millions before the war, and it Peace Conference. Whether or not, when

is to bo

any Government something will have to be paid for pensions, even to the result of that Conference is known, it

Pill

the country members or Germana. But

not bother any more I do not know; but what they be

will satisfy bon.

I do, know that the about it. (Hear, hear.)

Government are acting in I will try to sketch the actual facts as love are the best intereste of the country I see them. I do not disagree with many If for no other reason, in that way, ast the House of the suggestions put forward. Every

acting One of these has been examined, and will to give us credit for

and to believe that, whether our arith be factors taken into account.

and matie is wrong or right, our feelings FORZIGN SECURITIES. nem sentiments in the sub

the subject are just as I The subject of foreign securities has strong as thise of hon. members here.. already been examined. At the very time works that there was a bitter controversy remember yekding in one of Carlyle'n of the armistice we made it one of the about something I think it was probably conditions that we should have contra aboats religions and he said of the pro-

As

yous for your rotten of Law are the Armin arithmetic. this matter there is no

of principle, and I

hope

of these securities.

Hon. Member: We did not know it tagomsonhating at each other,

at the time of the armistice

armistice, but I cannot remember, dates,

**

difference

bon.

Carame; Bew York, 90; Becks Brightice. I thought it was the time of the members, outwardly and in their bearte Toronto, LTHAM Emu Australia, ELLIOT BROE Byday and Briene; New Zeazard Droo Co Lưng Auckland, Christchurch, Dunedin, Welling

on Ladia, B. K. PAUL & Colatte.

E100

I know that very prompt steps were taken will not be inclined to say of me: "God to secure that these should not disanpent, confound him for his rotten arithmetic." With all that I agree, but the diffulty (Cheere and laughter.)

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