Evening star., 1919-03-02

Ieitung. the most responsible organ
OF Germany's business class, speaks of y
the loans as If they were already nes
gotiated
Enormous estimates are being pub<
lished of the amount of goods which
Europe will want to buy from America
on credit during the next few days.
according to the Dutch economic
writer Halkens, america might ex.
port $l6.00O,00O,00 worth during a
decade, for the repair of war waste,
and so. accumulate an enormous credit
account against Europe" This guam
tity OF goods. he admits, far exceeds ;
Americas exporting power, THE
40O,o00,000 exhausted inhabitants OF
Europe cannot expect to be restored
to prosperity on the mere surplus pro-
duction of 100, 000,000 Americans. But
Europe calculates that America in her
own interests will be compelled to
SEND as much goods as possible. In
Germany this is almost a threat 'If
we cannot get food and raw mate
rials,' proclaim the Germans, I'VE
shali be unable to pay compensation
TO the entente countries who are in
turn IN debt to America; and America
viii not even get interest on these
debts. We shall be bankrupt and boil
sneVlk' Further. the new Austrian
states argue that as America was the
main factor in deciding the war and
bringing them into existence, she,
must make herself responsible for
thelf Well being. Finally Europe's
business men believe that the senti-
ment in favor of selling. which is COM
mon TO all vigorous business countries,
VIII unconsciously operate in forcing
America to export at the greatest pos
sible tension.
Thls means the complete financial
nepehdence of a great part OF Eu-
rope upon America. And no one any
longer expects that such financial de-
pendence is consistent with the for
mer political independence The coun-
c,s cp,es tina that want help most are the
their debts. All of them-Russia. Ger
many. Austria. Rumania Bulgaria
are in state of revolutionary fer
ment, me ana some of them are infected
by bolshevism, with it's doctrine of
reputation of public and private
debts. Their citizens realize fully
that America will not copy the bad
experiment exp nIrIst made pe by France in trust
vast quantities of goods on credit she
VIII see that payment is secured. But
payment can be secured only If the
buying countries develop out of their
present revolutionary chaos into
stable and orderly government.
America, says the once fanatical-
ly pan German writer Neumann. will
expect the European governments to
rule on democratic principles; to con-
duct their finances in the established
way, and to recognize International
opligations. She will require mate
rial pledges of this" Such pledges
can only take the shape of giving
America business and political con-
troll. This means, to some extent. the
"Ottomanizing'' OF continental Eu-
ha
organizations like the Turkish public
de6t service. and that Inevitably In
VolVes loss of complete political In
nependence, and temporary but none
hegemony
Four years ago such DEVELOPMENT
was tnconceivable. Today it is oh.
Eious, because some Of the most i'm
Portant European states have already
had to sacrifice part of their inde.
pendence. Germany sacrificed part or
her Independence when on December /
ast her financial representatives on the
armistice commission signed an under-
taking pledgtng her not to take or ner
mt, any steps diminishing her national
wealth, which is security for the allies
claiins. me occupation of part Of her
territory as further security is also a loss
or independence. She would gain and
not lose in Independence if an American
hnancial-political control commission
p ppermanentiy established at Berlin
debts, and thus freed her occupied
. territory The feeding of Europe by
America also necessarily involves
American control. The fed countries
Witl be compelled to supply America
va h facts and figures as to needs and
distribution.
The whole relation of America to.
ward Europe In the next years" accord. 4;
ing to the Munich Nachrichten Twill
therefore be based on American control
AT the least, America before exporting
viii demand that she be fully Dosted "a
10 political and business present con.
ultions and future plans in the coun.
tries concerned, and these future plans
VIII more or less bind the governments
which communicates them. America NAV
may go much further. She may es.
tablish permanent control commits.
slons In the capitals of the suppiied
countries OF course no European
country Is obliged to, accept such a +.
proposal. but the country which re-
fuses must reconcile itself to going
hungry and to delaying by tens or
years Its economic regeneration"
For Germany and Austria such
American control would be a new and
bitter pill. For Russia 1t is an old
one, dating from the deposition OF
Nicholas Car. H. Russia was then
az badly exhausted and pumped out
as other European states are now, so
Minister of Finances Shingarioff eIab. .
GRATED plan for concluding a fve-
billion dollar loan in the Ifp,fea Statao