New-York tribune., 1919-10-01
Urges Government
Aid in Financing
Needs of Europe
r. II. Sisson. Back From
Other Side, Declares Task
Is Too Large for Pri.
vate B a II kers Here

vate 3 an k ers Here
:, If the people Of Europe can endure
she hardships of next winter the battle
aur stable conditions in the Old World
Slll DC won, according to Francis H.
TTtssoh, vice President Of the Guaranty
irust Company who has JUST returned
''onl SIX weeks trip abroad.
=. a close inspection Of the situation
IN Europe to-day IS certainly not re-
assollhg' the banker SAID. IN telling
OF MS observations yesterday after
Z. ioences or economic and social
disturbance, there are abundant
reasons to warrant the belief that
Europe Will work out her salvation and
that civilization is not tottering to its
iuil' as some of the alarmists would
nave US believe
Test This Winter
ms winter will mark the real test
OF the situation. The scarcity OF coal,
1000 and raw materials for industry
Will nave most serious effect, par
IIcularly IN middle Europe and Italy
When people are cold and hungry and
ldle the ground lies fallow for revou-
tlon. In spots, and possibly in large
areas, that may come. but agains. it
IS the instinct OF these people for
creating and accunulatnr wealth and
for social order. IN the long run feel
that II can be confidently asserted that
constructive forces Will win the day.
although there are certain to De diff
cur situations fer them to overcome"
Mr.. Slsson declared -hat the Euro
peans were looking impatientiy Tor
continued financial aid IN this country.
and gave it as his opinion that the
task OF financing the Continent WAS too
large tor the private bankers OF this
country, and suggested that to meet
the situation it would be advisable for
the government at Washington to use
It's credit, particularly that which it
has available in the War Finance Cor
Qoration and the food administrations
10 relieve the situation.
ne situation In Belgium the
banker asserted, "is particularly bright.
"here people are returning TO their
task, and both the country and lis in
stltutlonS are on sound financial basis
or the other telligerent countries no1
so much can be said. England is, C.
course, the centre of all interests to-
day; her great problem is the labor
question, and il that can be solved IN
such manner as not to decrease her
production ard not unduly Increase its
effects Of the war is assured.
Ut seems certain that the labor is
sue there must be fought out. as the
issue seems to be At present irrecou-
cliable. That the fundamental commoa
sense of the British people Will ulsi-
m2tely bring sanity and equity out Of
the conflict OF interests seems cred
lble England is watching the United
States with the greatest interest ana
some apprehension.
Our entrance into the fields of sh hiD-
ping, foreign trade and international
finance is not an entirely welcome ono
but one with which. q course. snc
must reckon although not without re
gret and lear Of our rising pr0minenc
That her views must be adjusted 10
these facts seems, cf course. certain
to US, and have I'D loubl. viii follow.
English government officials ana
hranc.ers view the exchange situation
sophicaily and. on the whole ar
inclined TO regard il IS good ting
tr1ln their point OF view. as thy feel
shat it VII rrstric- buying n this
country induce saving and stimula-
eome PR Guctl0n- There seerls to N.
no question IN ,he minds OF Eng ish
Official tina. they viii be ole to
discharge their obligations 20 az al
though t.ey frankly say that they must
at times ask II - TO be patient with
them aAd allow them to work out their
problem.
Rapid Progress in France
Rapid progress is being made IN
France in It's work Of reconstruction.
Her reopie are returning to work ggad-
rally, Ter devastated districts are rap
Id eing revived. 1t will. Of course,
be years before much OF this dsstruc-
tion car be replaced, bat the resi- Of
France IS busy and PHOSPHORUS.
'ltaiy faces a serious situation. par
tcqiariy through lack o. co4i and So
cal unros-. Che aafne situetlqA aD-
plies .Arourhou middle EUROPE. and
lhe coming winter VIII undoubtedly BE-
the crucial period N It's history.
"Germanv is setting about lts task Of
rehabilitation inteilige and indus
triously. on the whole. and if the ne
cessities Of lifa can be provided to her
reopie it seems reasonably certain
that Germany VIII cone bacl, rapidly.