Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-10
BY OLIVER OWEN KUHN.

BY OLIVER OWEN KUHN.
ming to take the bit in its
teeth, but in it's first great ef-
fort to bring order out of
chaos there is much doubt as to
whether it will succeed. In Brussels
financiers and economists of all ma
tons represented in the league, have
held counsel. Germans have been
without the league. but in accurate
ly estimating Europe's burden and
the continents ability to restore a
semblance of normal conditions, the
nations represented within the league
nave been forced to turn to the Teutons
Tor light, for only in a stronger Ger
many. all foreign offices now admit. can
the dilapidated financial fabric of the
world be mended.
During the past two weeks much
mas been done looking toward a bet
ter understanding between nations.
Rigid economy in governmental ex-
pendltures has been advocated. the
exchange problem has been tackled
with vim and the proposition Of
stabiliZing international finance dis
cussed at length. Great credit systems
have been proposed whereby debtor
nations may be able to get their in
dustries once more to working full
time. Unwieldy expenditures in in
creased armament have been frowned
upon and in this connection it is
pointed out significantly that fully
20 per cent Of the budgets of all ma
lions today are composed of appro-
in dc
for war or preparations for war.
Possibility Of Success.
II the league sets in motion steps
toward the reduction of ornaments it
will have accomplished much, but
owing to the chaotic condition of
affairs at the present moment, it is
realized that unless the whole sit
uation is changed materially. and the
clouds are removed from certain per-
picking issues inspired largely by
European jealousies. there is little
hope that this can be effected. Not. at
least, until the league has proven
really a workable and forceful body.
the dictates of which must be counte-
nanced.
The question of stabilizing exchange
is one of the most vital of the many
perplexing issues before Europe. In
the central powers the buying power
of the mark is almost nil. In Aus
tria and certain southeastern Euro
pean countries money is scarcely
worth the paper upon which 1t is
printed. France. England and Italy.
likewise, are affected. though not in
such preponderent degree. But the
fluctuation of exchange has done
much to prevent the normal flow of
commerce between nations, and this
the financial congress has sought to
remedy. In Spain. in January. def
mite steps predicated upon adequate
study and emassing of facts from all
nations. undoubtedly will be taken.
and, though the fixing of some basis
of normality for each country may
lead to objection on the part Of those
countries whose money is worth less
than another. it is believed for the
sake of resuscitating business and
majority will comply with leagues
The gold standard
dollar will be the unit of all exchange
in the future. this little fact indi-
eating the rise of the United States
and its dominate position in the
financial world.
Something Must Be Done.
+ Something must be done to restore
the economic life Of Europe. Certain
allied countries. particularly Belgium
and France. are carrying their bur-
deus ,wsu, and have done much toward
| Re -sstablishing themselves. but the
usheffne IN Of ample credits likewise
is needed. though the necessity of
these may be felt more to the east.
The establishment Of credits through
out Europe is vital. and it will be
found when some system is evolved
that little favoritism will be shown
among nations. The future of Europe
prec1udes prejudice in such a system,
and it will be found that Germany
and Austria and other nations who
are in vital need of extensive credits
will receive most favorable treat