Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-15
An Important Piece of business.

he world is beginning to realize that
neither tho peremptoriness OF pay
"hat-thou-owest nor the abstract righteous
ness OF punitive assessments will effect the
return OF normally safe economic relations
oet"een peoples. In every important cap
i'ai thought is turning to the urgent need
OF an adjustment that will reflect more gem
crosby and higher wisdom. A conference
looking to such an adjustment probably
VIII be held In the near future IT may be
heid In Washington; II may be held in Eu-
rope. ana without official participation on
the part OF the United States Wherever
heid and however constituted, it will fully
equal In immediate Importance the confer
cncc that Is now in progress at Washington.
In met, unless something Is done to bring
ABOUT more profitable economic balance
throughout the world, gains made ut Wash
ihgton may easily turn out to be more
theoretical than real
TO very marked degree the dangers and
dlficuities of the economic situation center
ABOUT the relations OF France and Germany
rance is unwilling to forcgo undeniably
just reparations; Germany admittedly is
without the means of paying in strict ac-
cordance with tho terms OF tho contract
sympathy and moral support for the posi-
ton or France cannot blind the principal
powers to the vital importance of saving
Germany from hopeless insolvency The
world has learned within two years that
Germany Is one of the essential units of the
economic structure; and that fact must be
faced. If not with generosity, at least with
due regard for the rehabilitation of industry
and commerce everywhere
The plan attributed to Premier LLOYD
George suggests the anxiety Of Great Britain
over the outlook and lends fresh emphasis
10 the undoubted readiness of the British
government to make substantial concessions
IL order TO lay better foundation for the
worlds economic recovery Under the re-
ported plan. Great Britain would cancel the
war debts of Franco. Italy, Belgium Russia
ana the smaller Balkan allies. the signif
cant provision being made in the case of
france that an amount equal to the French
lI'uepteaness 10 Britain be deducted from
Hermany's PREPARATIONS account France
would find it difficult to Justify reflections
OF proposal based on these terms Franco
Presumably wishes compensation of a sort
Tor the physical injuries received I'm tho
war not merely the satisfaction OF making
Germany sweat. That presumption would
DE tested by the French reception OF such n
proposal as unofficial report credits 70
Lloyd George
"hat Americas part in the reimbursement
VIII be-precisely what it should bo-is
prooicmntical 1t is beyond question. how
ever that this part, in Il broad sense, should
be one characterized by the utmost sym
patty and forbcarance. The futilitv of do
manding-in fact. the very real danger of
reee'ving-immediate payment of the war
oeo.s owed To this country by Europe was
'i'aue iairE clear by Mr.. Vanderlip in his
recent suggestion OF settlement plan. Con-
siderfng the matter from q pureIv seI6sb
point OF Wow. there can be no profit for tho
United States In peremptorily calling for an
accounting.