Arizona republican., 1920-11-16
A pur.Ix eu.ines. Meeting

The future of the League of Nations will be greatly affected by sessions of the Assembly or the League for which representatives of thirty-nne nations anl seventy-fve per cent of the population of the earth came together yesterday at Geneva. what win be done there will have marked effect on the course of the United States with respect to shs League and win determine what terms if at an we shall it.
 Tt ~ not at all likely that disturbing ques- tions win be allowed at the present meet nr of the assembly. The political aspects or the world alliance it is thought will not be considered as this time financial and economic matters ~ln engrOss the attention of the delegates
 The data which will laid before them was pre- uarsd in the recent International Financial Confer erce at Brussels They embrace appalling array of facts and figures largely figures, constituting falancinr of the accounts of the nations not only these of the late belgerents but also those of neu trai nations which have entered the league
 Ii was made known Brussels that the debts of the European nations engaged in the war, that s Abe external debts amount to s155OooOOOOOo against total indebtedness of s17OOOOoooOO before the war f the reater debt there is owed United States sr1 GOO 100000 which when we consider the depre- dated currency of our debtors must be staggering sum to them.
 It was also made known in the international con ference that the current expenditures of these debtor countries have greatly increased, from 500 to 1900 per cent amounting from twenty to forty per cent os their national incomes It also stated in orts of the conference twenty cent of these greater expenditures is devoted to PREPARATION FOR WAR
 The European neutral nations only in lit- tie worse shape They have. it is true, no war debt though their national debts have been increased They had favorable trade balances during the war and consequent accumuations of gold. This led to an expansion of currency and higher prices. We were fafected this way and in much greater de- gree.
 Now these neutral nations importing goods 10 replenish supplies exhausted by exports during the war On account of their then favorable position their rates of exchange rose as compared with the appreciated of the begerents and m consequence exports fallen off with the loss of the purchasing of the war debt-burd- ened nations.
 Thus. all European nations neutral as we'll as hcligerents are at serious disadvantage as com pared with the United States which, though in the same situation and in even a greater degree is the better able stand it. But the condition of all the nations of the earth is that of commercial isolation
 It can thus be seen that the assembly has some thing before 1t much more perplexing and imminent shan world politics. It is thing to be disposed of hv diplomats nor yet by humanitarians vision aries but by practical hard headed businessmen who have common vital and not sentimental interest ir arriving solution.
 No doubt the question of disarmament the limitation of armament will be brought and con sidered not part of a beautiful dream of peace hut as means of Iessening the expenditures of thu already staggering nations.
 The delegates to the Brussels conference sai' so have come together. suspicious of one another Nothing was attempted until there grew up mutua confidence that all earnestly seeking solution That confidence will good basis for the Genev; meeting and we believe will try destroy it b. su attempt overreaching.