The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1920-05-18

y
to American indebtedness, thus making
the United States wait for Germany pay
ments before England or France pay us. /
But treasury officials say this is alb
surd They declare that there is abso-
lutely no relationship between repara-
ton and war Indebtedness They recog- |
nize that payments of German repara
ton money might accelerate the paw
ment of inter-allied debts and insist that
the reparatlon money was never intended
TO pay the bills OF the war itself but
rather to rehabilitate France and Bel
GUM and England and assist in the do
nestle situation of each to the extent
therefore, that. Germany's money helps
France internally, it will improve the
whole world situation though it is feared
here there will not be much improvement
in respect of. France until. the latter
ceases issuing so much paper money and
begins to make, her budget balance Incl
dentaiiy some OF the talk of having
American investors absorb Germany
bonds which are to be issued with the
PREPARATION money as security is pro-
nouneed impractieal here. America, it is
asserted, cannot absorb any such bonds
as she hasn't the money.
Broadly speaking, there is the utmost
satisfaction here that the allies are en-.
deayoring to agree among themselves
before they approach the Germans at the
Sra conference. II is felt that the allied
premiers enter the conference with d
changed attitude toward Germany.
Fully a year has had to pass unfortu-
nately before the allies have been
brought around to a realization of the
correctness of the viewpoint expressed
by President Wilson and his financial
advisers at the Paris peace conference,
namely, that the sooner a definite sum
was fixed for the Germans to pay and
the sooner arrangements were made to
| help Germany earn the money to pay
her debts the quicker the world would
get back on its feet.
| Three factors have prevented Europe
! from doing II months ago what she is
accomplishing today. First. Prime Min
lister Lloyd George had made an election
promise to the general effect that Ger
many would repay England for her whole
war cost. This raised high hopes in Eng
land and kept Lloyd George in power.
This election promise is probably the
most famous in all history and was
vaguely referred to by President Wilson
IN his conference with the senate foreign
relations committee. The publication OF
the sensational book by J. NJ Keynes
British financial adviser. who revealed
the secrets of the Paris conference, has
had a tremendous effect ON England pub
lie opinion which realizes now that the
indefniteness of the indemnity question
has kept and would keep Germany from
beginning to earn the money to pay hel
bills. The allies know they must accept
a much smaller indemnity than they ad
vertised they would collect.
Second, France was another barrier
or rather Premier Clemenceau VIII,
shared the view of multitude o.
Frenchmen that Germany should prompt
~ rehabilitate France before any money
should 90 elsewhere. Clemenceaus 10
norance of economics is spoken of b,
American officials as one of the lament
able obstacles to an earlier agreement oil
the indemnity question.
Third, the United States got tangle,
up in party politics and Europe waite,
hopefully for the ratification of the peac
treaty, and Americas entrance into tn
league of nations
All factors have now been remove,
except one. England is ready to agre
to a fixed sum for the Germans to pa,
5 and method of financing the Germans
7 France and Italy are in accord with tn
; British viewpoint. The United State
alone IS outside the conference chambe
and this country holds Sl0.000n00. 90
Of European obligations. But Europ
has decided that she can wait no longer
II America suffers as a result of the set
Element, that is her lookout Europ
has had enough of election promises an
tangles in the case of England. ST
doesn't expect a definite policy frol
America until after our presidentia
election certainly not till next Marcl
PROFESSIONALLY she will advise til
United States of what is done but thu
far not syllable of official informatio
has come for the good reason tina
America has nobody on the inside ,
those conferences and until the pea,
treaty is ratified the United States 90,
ernment will continue to be on the ou
| side