El Paso herald. (El Paso, Tex.) 1901-1931, 1920-04-24

BALDERsTOH.
! whatever. America. IN tbs British
view. did not delay a temporary ps1ca
II Europe, for this was effected with
out u.s. BY the time really definltlVe
settlement has been agreed on there
viii be q new president IN the white
house. and America may be ready
TO join IN
IN Francs. where they stiu dss-
psrately cling % the treaty as their
one protection against Germany, and
their one guarantee that France VIII
secure adequate reparation. feeling
- very different All classes OF
E'renchmsn are bitter and cisaD-
our defensive alliance with France
which Wilson concluded under pres
sure from Clemenceau Is dead. That
Is the view I have found everywhere
I expressed n Paris whatever oplrioz
I Washington may have on the matter.
France blames Us because our fall
ure 70 agree to Wilson's defensive all
lance has also deprived France OF the
] Lloyd George. The alliance bound
both England and America 70 heI=
France II attacked by Germany. but
Britain feels herself unable 70 agree
OF the continent unless America VIII
do 50 too. and since lt has become
evident that America VIII not. Lloyd
George has felt bound to declare that
the British caanEet keep their part OF
what was bargain contingent upon
the assent Of the United States
II IL easy 20 de1Ounce France az
Iuperlalistlcs and feeling against the
Paris policy viii become more intense
in England and America when Il IS
clearly understood what France pro
poses 70 do. Regardless OF the treaty
OF OF any agreements 70 the con
trzrys France VIII hold under MILF
] tarV occupation the whole left bank o.
tina EH|wH and ~7THIN Keen
: million Germans under the yoke She
viii DO more than this II marshal
I Foch has his way she Elu invade
the Euhr mining district far beyond
7 the Rhine 20 make certain that she
gets the coal promised IA the peace
I treaty. she viii leave no diplomatic
stones uururned 70 secure the break
ID Of the German federation fnto It's
Z old component parts
Must Have Security.
France nay be called imperialistlc
FOR adopting THE policy, which seems
certain 10 breed future wars. but her
Statesmen reply 20 all ramorstrauces
that they have no choice They must
America nor England VIII agree 20
help again. they cannot risk an uu-
taVorabls outcome 20 the next battle
OF the Name They must make T.
impossible Tor Germany 70 attack
them. and this can only be done
By keeping Germany Permanently
Rance seems to have given up
hope that America VIII take any real
part ll the settlement OF Europe
England IS more optimistic 10 is
felt IN London that after our cleo
ton. probably after the new admin
United States VIII associate herself
ln some form with the league 90
nations, and probably lend e hand lu
strai shtening out the tangle in the
leaving the Turk IN Constantinopis
and American pleas IN favor Of thn
Armenians are welcomed in England.
as indicating that we have not alto
but are keeping an interest IL these
affairs against tbs day when our DO
ntical situation VIII enable Is 70 act
American Dollar Big Issue
The American dollar is perhaps the
greatest world issue or the present
time Yesterday a high official here
said 70 me. I'VE are informed that
IN America cinemas pictures are
hattisship8 building, followed BY LETT
ter press declaring that this IS how
England IS spending her money. while
she does not pay interest On debts
she owes the United States
7 scented an interview. and COM
menced maneuFers TO this END. but
the official cut me short You know
what our position IS" he said Don't
interview me- set down yourself for
your own peopls what you know
Ihey'l be more likely to believe you
than ne.
While the writer doesn't On the
least approve OF much current British
policy. be Is convinced that in this
matter OF British debt 20 the United
States. ATTACKS on England az home
are grossly unfair.
The facts are these. The whole OF
the British debt owing TO the United
States IS far less than debts owing
10 Britain BY the other allies. The
bulk OF British purchases in the
United States were for Russia France
and italy. contracted through John
Bull as a middl erlan because we pre-
ferred % have his signature TO the
7 o. US. It was not until af-er We
entered the war that We Commenced
granting credits 70 otEer helllgarauts.
This system OF financing the en-
tente through London has caused the
break In the pound sterling 90 q doll
lar, recently a dollar and q hair be-
low par. Purchases made BY England
for her own use would not have re-
suited IN the collapse, because br
the sale o. nearly a billion In Ameri-
can securities Britain was able until
the war 70 keep the exchange level
Result Of Agreement.
The postponement OF Interest pay
ments due By England TO America has
(Conrinued On PzEs n. Column 81