New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-10-02
Britain Takes
| Germany Into
Its Trade Fold
Encourages Co M IN ere e
While France Holds Aloof:
Cries for Fixed Indemnity
Following Policy of U. S.
Shuts Down ON Loans
England Expected to Stand
Firm Against Further
Financial Aid to Europe

Financial Ald To Europe
From, The TribDncs European Bureou
convricht. 1890. New York Tribune Inc
LONDON, Oct Il Americans have
been giving Europeans. especially Con-
tinental economists seme rather rude
SURPRISES and shocks recently che
speech Of Roland w. Boyden. uno ffic inl
United States representative al the
Brussels conference. in which he said
that American financial interests CON
sidered Europe a poor investment in
these days of civil and international
strife. produced the effect Of a bomb
dropped in the gathering of experts
i was no less striking than the famous
memorandum OF Carter Glass, former
Secretary Of the Treasury, stating that
America would lend no more money TO
EUROPE.
The British experts were better pre-
pared to receive the announcement and
they are following policy not unlike
.hat Of The Americans. DESPITE warn
inss from America. President Wilson's
failure to get an Endorsement Of the
League of Nations and Senator Har-
dng's announcement that he is against
the league as it was framed at Yer
sailes, many economists, particularly
those of the smaller nations, have hyp-
rot;zed themselves into the belief that
re United States would come TO the
financial rescue of Europe even to
tho extent Of cancellng a large part
al It's loan. They know now that this
vas only dream.
America Drawing Away
prove dismal failure, but it is clear
IL apparent tina. one of its chief OBJ
sctives will not be attained. America
IS further from Europe than ever be-
ere. For the first time in six Years
h. London press discusses the IN
tcrnational situation with complete
Frankness. Americas attitude toward
TEurope is finally understood. and with
this awakening comes a readjustment
o. the whole financial and political sit
ustion. A British government organ, one
which has the reputation Of being the
moathpece Of the Premier, says:
France has parted company from
rs. 1t is no longer enough TO say
nat there is a rift in the Entente
Tor major purposes the Entente hardly
exists
Another announces: "French opinion
is rpening toward new independent
Sfnancal policy whose development
degnnot fail &c affect the political stu
atom Of Europe
I Reading between the lines. it is per
seetly plain that the British believe
that the French under President Mile
rand viii henceforth refuse to hold ne
gotiations with the Germans and in
sst that the reparations commission
Immediately hX the amounts to be
nad b. the Germans. That amount
being fixed the British think the
French will Try to liquidate il by
floating a bond issue
May Follow United States Policy
What viii be the British policy
VIII she follow the lead given by
America? Those in tho best position
10 know the views of the government
believe she viii Lord Chalmers. one
OF the British representatives at Brus-
sells. and one of England's creates st
financial authorities. intimated strong
y that his country held the same opin-
ion as America
Britain and Germany are rapidly re-
newlng relations Though it may seem
trivial affair, no one who has any
knowledge Of the hold which sports
have IN English life will fail to rec
ognize the significance Of the fact that
the British and German football teams
played a game in Berlin Saturday and
that the former eleven was composed
OF members OF the British Naval Mis-
T'on. Equally indicative OF the change
I'm relations between the late enemies
Is the fact that the German Ambassa-
Gor is now being entertained in many
= English houses.
While the French and British are
drawing apart, the British and Ger
mans are drifting together It is an
amazing situation which has developed
within less than two years after the
war.
When Parliament reassembles this
suoJece Will be raised in debate and a
movement will be started to put a
reasonable tariff on German goods. No
p netter proofs are needed that Great
britain is importing heavily from Ger
many than the announcement that Eng
ish manufacturers intend to ask Par
lament to set a tariff on German
sooas' German lenses, spectacles, p-
anos' laorlcs, gloves and enamelwarc
&c appearing on the English market
W. considerable quantities. while Bel
k, "on mas just placed an order 70,
fVVyV freight cars in Germany
Ihough the governments trade
4 ;"s'eement with the Bolsheviki remains
/ - aoeyance until the result of the
p psace conference at Riga between the
s russians and Poles is known, .consid-
p" aoie opposition to any relations with
'fass'a IS developing in industri cir
Us es' NOT only the bankers associa-
e iva' out number of important mer-
ISaans, nave protested to Premier
an oso george against proposals for re-
vtpsn'ng trade channels, on the ground
fna a' shey do not provide adequately
~. 'he recognition of Russian debts.
. ,"s bankers contend that when the
n..e'nment drew up the agreement it
voc dealing with the Russian CO.
s spsa societies, but the present
m easement is with the Soviet govern
ta an and consequently it should con-
d H." an acknowledges of all debts
s1p from the Russian nation.
s- 8 sSo na owes Great Britain more than
n Envu'yS'VWVo'oO0, and nearly another bill
Il va uoiiars Is due British investors in
a. n state and municipal bonds.
p6ir, oao,net is far from agreed on this
Ia " austen Chamberlain, Chancel-
bant. the EXchequer, supports the
that AZ while MIR. Lloyd George holds
thu we general Improvement through
than assumption Of trade would more
the r~aomgensate for the losses through
has n,spuelation of debts. He already
msnt p.sssed the claims of the govern
dst aug aug private investors, but the So
Advs 'ssIoers have refused to acknowl-
{Czsr,ss 'e.r liability for debts of the
The difFeron