Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-07-11

from FIRST HaRe.D
premier from now on will prove much
harder to move from carefully decided
conclusions than he has been in the
past. 1t is felt that in 80 far as repara.
lions may be concerned he will be
adamant in future. A curious fact
now develops. Unexpectedly between
the covers of a book appears the
great opponent whose strength Mile
rand must overcome. This is the vol
ume of the British author. Maynard
Keynes, The Economic Consequences
of the Peace The ideas set forth in
this volume are permeating the whole
atmosphere of the Spa conference.
Reconstruction Need
The usefulness of the book was to
show clearly that the work of the
economic reconstruction of Europe
can be performed only If Germany as
whole, as well as other nations, is
put back into state of economic
productivity.
At first the Keynes argument seem
ed good enough, but in fact it per-
petrated the error of assuming that
no safeguard need be taken against
consequences Of political and national
import that possibly may flow from
the full restoration of the industrial
and economic power of Germany.
In other words, it is now obvious
that Keynes undervalued the strength
of that political and national element
without consideration of which the
history of the last. fifty years must
read like an unsolved riddle. The book
therefore has had most mischievous
effect and facts seem to have reached
a w
pendence has become, SO to speak
dependent upon the exposition and
acknowledgment of the error. At the
present moment Keynes may be a
hundred miles away from here, per-
haps c1oseted in his Cambridge rooms,
but the influence of his words is felt
strongly in the mixed crowd of diplo-
matists, f1nanciers. journalists and
wirepullers of every character. which
is assembled here in this old fashion
ed Belgian watering place and here
is lost in intrigue and unhappy from
discomfort. -f.
Working Toward Elimination.
Clearly the British and American
commercial interests, to which the
word PREPARATION" is meaningless. and
the Italian economic needs, which
hope Of or dependence upon repara-
tons, are all working in the same
Objectionable elimination of that
Preparations" policy which is so es-
sential to the actual future life OF
France. -
For example, the presence here OF
the American corporation lawyer
Paul Cravath, who is pausing on his
return from Berlin, where he is re-
ported to have been sent by the Amer
lean banking firm, Kuhn Loeb & Co.,
has given rise to much comment, as
nj hn ic L n
have had long conversations with such
leaders of German, economic policy as
Meichoir Dernberg and others.
The new British ambassador in Ber-
lin, Lord DAbernon, who some years
ago, when general, manager of the
Banque Imperiale of Turkey. was
criticised. is believed to have the
same end in view. ~
In such circumstances. numerous
schemes of international business CO.
operation. drafted by Germans, are
getting, too much favorable attention.
The most comprehensive of these,
originated by Hugo SHINES. who last
week was admitted to explain 1t to
MHlerand, seems to be- finding favor
able consideration. France worries.
enough and will Britain be true
enough to the spirit of the alliance to
put q curb on, those material forces
which too evidently now are strug-
cling for unlimited scope? And where
does America stand? 70 Is she with
France? Will the requirement. still
prevail that Germany actually must
iuinH@the requirements Of justice and
international security as well as those
of economic convenience On. the an
swer to that which will be returned
during the course Of the next few
days will depend the future relation
ships. friendly or unfriendly, Of the
western powers and the lasting value