ANGLO-GERMAN PAYMENTS AGREEMENT NEW BASIS OF REICH PURCHASES OF U.K. GOODS BRITAIN ASKED FOR IMPORT DUTY CONCESSIONS

Germany has asked for duty concessions on imports into the United Kingdom of German goods and for concessions for German trade in certain British territories overseas. This is disclosed in the text of the AngloGermin Payments (Amendment) Agreement which was issued as a White Paper last night. SIR FRKE:DEKI(K La:ITlt-ROSS, chief economic adviser to the British Government, in a letter to )Dr. Wichl, leader of the German delegation, stated that these matters were regarded as being outside t he scope of the negotiations, but. that the British Government would be prepared later to enter into negotiations in regard to these matt'ers Is soon as possible. Hle added that it would be understood that both Goveronments would make every endeavour to take such steps as might be foutnd possible to increase mutiual trade and to improve trade relations. Details of thie new arrangement for the allocation of sterling hby the Reichshank to pay for ;German; imports of British goods are given in the Agreement. The text of the Anglo-German Transfer Agreement which gives effect to the British debt settlement with Germany, details of which appeared in TIE FINANCIAL TIMES oni Saturday last, was also issuted. Under the 19:1 IPayments Agreement which the present Agreementr almends, the Reichsbank earmarked caich month an, amount of sterling equal to 5.5 per cenl. of the value of German exports to tile United Kingdom, ralculatedi on the basis of the average o thethe t(ermlIanii export statistics andl the UInited KingdoI import statistics. MINIMUM OF £18,000,000 More Finished Goods This is now superseeded y i n aIrraCngeientl undcer which <'ch quarter ('I.3, 0.C), O will ie sm 1 .sille with tilIe ailitioin or subtractinn of 90 per cent. of the excess or rdeficipncy oil :n alamount (of £7,0)01i,000 for (;erman (including Austrian) exports for the preceding quarter calculated on till same hasis as under the 19:114 Agreement. This imeans that, so long as (rle1nanCC exports per annurm, cliculatCed on the ashove bsis, exceed £:0,000i,()()() (as they exceeded t hat figure even in the' year 1933:, when (German tradlCe was at a low ebb), the amnount to be Carlmarked for Gerilan imports of United Kingdom goods will exceed £18,00X()1,()(1-- that is, 6ti) per cent. of :30(),00(0,000() by i>(1 per cent. of the amouniit iby which Germanii exports to the IUnited Kingdom exceerd i:C(),000,0()tt. The genIeral arrangements for the allocationl of tile stertlinll for (lerCian imports of British goods to tlile various categories of goodIs on1 tihe basis of trade in the years 1 9!;2-;:1' remain unaltered, except that 5 per centc. of the sterling is left at tihe disposal of the (Iermlllai autihorities to pay for Inited Kingdom goods. Technical and engineering iproducts have been added to tihe goods specified in the '1934 agreenient for specially favourahble treatment. Provision has...