Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-06-13
RECOVERY OR RUIN
IS SPAS PROBLEM
Statesmen Expect Momentous
Decisions on Europe's Flu
turc at Coming Conference.
FRANCES NEED Is FIRST
Germany Said to Be Unable to
Pay Sums Expected by
Allies.
ny Sir GEORGE PAISII,
Leading british I:cOnomIst.

LONDON. June I2-Monen,ous as
were the meetings In Paris last year.
the spa conference. which is about
10 opcn. and the subsequent world
conference. at BRUSSELS. VIII be even
more n1si mnmrntous FOR upon the de-
cit'"ns TO be reached depends the
iutpre "cll-beinG Of practically every
| nation.
Indeed. .upon the decisions depends
Es m The world, and especially
stii greater misfortuncs. or whether
reihlvciy rapid recovery may be
the righ, course. then the cntentc
nations VIII have to bear several
c aaG,15s IN, mind which; II ignored.
! "hich may be reached.
France Ia Dire Need.
Tho hrst factor is France. neod y,
immediate assistance IL ia do,ih, .
less true that Germany. at some dis :
sum sum than sh: can pay either imrnedi
"cIy or Tor considerable number
Oh years 10 come. 1'u, II France has
al ~ W. VA. i2r r.construction, her con
NJ matters stand. France cnnno-
"nit lnaehnit"ly. and II is clear that
u i.amG In hand VIII b" worth TO her
years hence. France must rcstorc
ner productive power In order 10
,,hcsL her needs with the leas, po.si-
bIe delay. II her people are TO he ure-
served from economic and nnanci,l
d!nastcr. Il"
Germany Needs Time.
inc second factor To be noted /,
mase 'tir rnmaj,, Is no, In a position 10
neither produce nor sell IN. hin
shc REQUIRES TO produce ana TO sill
ieriaI 's r. 70 ohtain food and the ma
when the terms Of :ho oc,co
treaty were published .ndcarorcd
20 ASCERTAIN II IT would be possI,'Ir
able sum TO borrow any cnosidcr
Kets on the strength Of tho rcparation
proElsiona of that treaty. and dis.
MAKE aay ina, no ono was willing to
was pointed on; To me that Ger
nany could never pay the sums er
GcG,en, ana that the greater the sum
row IN anticipation OF its rccnin,
subsequent events have demonstraic,i
me soundncss of this opinion.
Frnnce Even Worse on.
me delay That has occurred In com
ing 10 reasonable settlement Ia,
already been disastrous 10 France
ana ~ Is now evident that unless
france can obtain advances from
,oreign nations on the security oil
Backed by her own credit. her CON.
dition Is likely TO become as hone
less as that OF Germany.
'Hu'cb IL may bcComc even more
hopeless. for whereas Germany has
cut down her unproductivc cXpcndI.
lures TO minimum. France Is mann
tanning her unproduct!vc expenditure.
at 80 high level that her productive
power is likely 10 be even smaller
man fcrmany'h In proportion to pop
ulnt!on.
II; Is clear that such a situation
ought TO cause French statesmen and
The french PEOPLE 10 adopt the r!sh,
coursc--n course which viii convince
the world that they VIII receive n
supstan'iai sum from Germany and
mat they Themselves intend 10 do
everything In their power 10 recover
their productive power and TO re-
establish their credit
Must Find Happy Medium.
BY agreeing TO pay the amount she
Is capable of paying. but not less.
Germany would materially contribute
10 her own recovery. and by demand :
Ing from Germany the amount she is
capable OF paying, nut not more. the
entente nations. and more especially
France. would materially contribute
TO their own recovery.
II the decision were the right one.
II would doubtless meet with the an
prevail of the peoples Of ali countries.
i who would be prepared to make ad :
vanccs to tho entente nations and
Especially TO France. In the confident
expectation that the sums lent would
be repaid when Germany is capable
OF making the payments she has will
\ inEly asscnted to, and which she her
self admits are reasonable.