The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-18

Germans AT Spa. But ii must ba said
ut the outset that whatever views ara
expressed al the treasury department,
where the writer made several inquiries
today concerning the momentous decis-
ions being made in the European con-
terences, are based entirely upon
reading Of the morning newspapers.
Significantly, and, indeed. Tegretta-
bly,. The United States government does
not know n thing about what is going
on In these important financial confer
ences, which indirectly relate to the
whole economic future OF the United
States. the value OF its bonds aud SCI
curittes and the opportunities for for
eign trade.
Without Benefit of Advice,
Treasury officials said It was an
unfortunate confirmation Of what they
had been saying right along namely
that Europe was being compelled 20
settle the worlds financial affairs With
out having the benefit Of Americas
advice or suggestions
While II is true, said one Of the
States need not accept the settlement
able ID raise much ~ clamor when,
indeed. we rejected the opportunity
that was offered US 20 become mem
her OF the league Of nations and be
represented In these important confer
ences."
To he sure our officials take with
a grain Of salt some of the cablegrams
which imply that a new principle OF
payment OF interalled war debts is 70
be introduced. For instance one press
dispatch declares thet France VIII not
be obliged 10 pay England what sho
owes the latter until the Germans make
their payments on the war indcn-
nifty. This might conceivably be ex-
tended to apply to American indebted-
ness thus making the United states
wait for German payments before Eng
land cr France pay us.
View of Our Officials.
But treasury officials say this is sh-
surd. They deRlaro that there is abb
solutely no relationship between repara-
| ton and war Indebtedness. They roev
| ognize that payments OF GernnAn re-
para ton mOneg might accelerate the
| payment OF interahied debts, and insist
that the reparation money was never
| Intended TO pay the bills OF the war
itself. but rather rehabilitate Francs
and Belgium and England, and assist
| in the domestic situation of each.
| To the extent, therefore, that Ger-
manys money helps France Intern
allyr II win improve the whole world
| situation. though IL 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 ball
| incidentally, some Of the talk OF hav-
ing American investors absorb German
indemnity bonds, which are 10 be issued
with the reparation money as security,
is pronounced Impractical here. Amer
lea 1t ia asserted. can not absorb any
such bonds, as she hasn't the money.
Presidents Paris Viewpoint.
Broadly speaking. there is the utmost
| satisfaction here that the allies arc
endeavoring to agree among themselves
before they approach the Germans at
| the Spa conference. IL is felt that the
allied premierR enter the conference
with a changed attitude toward Ger
many Fully a year has had to pass
unfortunately before the allies have
| been brought around to a realization OF
| the correctness Of the viewpoint ex-
pressed by President Wilson and his
! financial advisers al the Paris peace
| conference, namely that the sooner
| definite sum was fixed for the Germans
| to pay and the sooner arrangements
were made TO heIp Germany earn the
Emoncy 10 pay her debts, the quicker the
| world would get back on its feet.
| Three factors have prevented Eu-
rope from doing ~ months ago what
| she is accomplishing today. First,
| Prime Minister Lloyd George had made
an election promise to the general ef-
| feet that Germany would repay Eng
| land for her whole war cost. This
raised high hopes in England and kept
! IluNu NftDlkt IN lOWtI. MS H4HAltOH
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 COM
mittee.
| book by J NJ Keynes, British finan-
cial adviser. WHO revealed The secrets
| of the Paris conference, has had q
| Tremendous effect on English public
| opinion. which realizes now that the
/ Ind "a indemnify nFIHgflOm
| has kept and would keep Germany from
| beginning TO earn the money TO pay her
| bills The allies know they must ac-
| cent a much smaller indemnity than
| they advertised they would collect
France Was One Barrier.
Second, France was another barrier
| or rather Premier Clemenceau. who
! shared the view Of multitude "
| Frerchmen that Germany should
\ promptly rehabiltate France before any
/ money should go elsewhere, Ciemen-
! ceau's ignorance Of economies is spoken
| Of hy American officials AS one Of the
! lamcntsble obstacles TO an earlier agree
| menf on the Indemnity question,
! THIRD. the United States got tangled
NJ in PARTY politics and Europe watt
| ed hopefully for the ratification OF
! the peace treaty and Americas en-
! trance into Tho league Of nations.
! All factors have now been removed
/ 20 fixed sum for the Germans to pAy
| and q method Of financing the Germans.
| France and Italy are in accord with
| the British viewpoint,
The United States alone is outside
| the conference chamber and this cOun-
! a., holds Sl0o geo 600 600 Of European
/ obligations But Europe has decided
| that she can wait no longer. II Amer
lea suffers as a result OF the settlement,
that is her lookout Europe has had
! enough OF election promises aud taugies
| In the case OF England. She doesn't
expect a definite policy from America
until after our presidential election
| certainly not TIL next March. Unques-
| tionahly she viii advise the United
| States OF what Is done-but thus far
| not a syllable of official information
has come, for the good reason that
! America has nobody on the inside OF the
| conferences, and until The peace treaty
| is ratified the United States government
| will continue to he on the outside.
! Copyright. 1920 by David Lawrence.l
OIL MAN SUICIDES.
! NEW ORLEANS. La, May Is.-L d.
Adams. Of oklahoma City fell or
! jumped to his death from the seventh
. sl,.