German Treaty

(British Commonwealth of Nations)

One piece of the week's news was out of all proportion to the space given it in the daily newspapers. Brief des-patches told of the signing of an Anglo- German Commercial Treaty; few hinted that it was one of the most important events of this postbellum decade.

The Treaty, yet to be ratified, is for a period of five years and is between the United Kingdom of Great Britain and Northern Ireland and the Republic of Germany. Until Sept. 1, 1926, the component nations of the British Commonwealth have the right to adhere to the terms of the Treaty, or negotiate new treaties.

Chief among the terms:

1) Both nations to receive most favored nation treatment in all matters of trade.

2) Reciprocal engagements to regulate the status of nationals, companies, shipping and goods in both countries.

3) Reduction of present list of prohibited imports.

4) Tariff adjustments where different grades of the same article are adversely affected by a reduction of duties. (Protection for the Lancashire cotton mills).

The significance of this Treaty is that it hampers the much-mooted coalition ot German coke and Lorraine ore, as under the most favored nation clause whatever privileges Germany may extend to France she will automatically extend to the United Kingdom. It also means an end of discrimination against the Germans in Britain, for they will, under the Treaty, be allowed to deal in non-ferrous metals, to reopen banks, to serve in the merchant marine on the same terms as other aliens. Moreover, fishing rights have been made reciprocal. Apart from its significance, the raison d'etre of the Treaty was the expiration on Jan. 10 of the trade protective clauses of the Versailles Treaty.