Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-10-16
DEFEAT OF VERSAILLES TREATY BLACKLIST CRIME
AGAINST THE HUMAN RACE IN ALL HISTORY


| unstable do facto. and other govern
mcnts recently created by the $4,000.
900 people newly liberated by the wal
and tn" Versailles treaty. ScriUus
buundry dispu,ca were brewing in
different localities. Europ" was torn
widely apart WIN respect 70 com
mvrCc. n:ianC" and communication
number OF old governments had
been destroyed. while some SURVIVING
Ones lay PROSTATE. Finance, com
n"rce AMI industry in central and
standS,iil. and all Europe was there
by threatened with great political
ana economic Instability. She Was
stun an armed camp. III. ,rrnty h.
lay not having yet ycrrnItt.d In. dis
bandincnt ~ her armies and the re-
urn OF INC so!d!crs 10 Industrial pur-
su,nS, disease was inhicting serious
LOSSES among many peoples.
The Meaning of I,ntinrntIun.
IL IL thus seen that Europc's prob
iels OF reconstruction ami r.hnbiIi-
tat!on OF 1919 wero huge and conpli-
,ht.d' At this desperate stag. she
'GyK.u I" The Versailles treat as her
mart an1 TO America as III. world
!r"utF' Trchty ratification would
mean early rcacc and the .diHDaid-
mont or armies. the restoration OF
mutual confidence and good VIII
among many peoples suspicious Or
hostile towards each other "a definite.
h"eh' workable program Of r.i,IjuAt-
mont ana decentralization by which
every Icoplu could Ice guided with
system and certainty. I.ntiiica,ton
would mean clearly defined boundary.
INES, the permanent creation .. new
nations, provision for fixing IT,. Ger
man indemnity. international dis
armament, .Ilh. in brief u GRADUAL
ANA general Transformation from war
w. r,aTe conditions; politically,
tTinlly.
Consequence. or .t,ncri~n'. i.uIIcy.
hn, W'rs some OF The unspcakabl.
cal r"i'ry or isolation" .nd " throt
ting World peace? Europe. without
.cA '.I., with ,hr program OF
MHftd neac: hopeless!y handicapped.
helpless, not knowing which way 10
TURN. staggered and r.clcd curth.r
back towards bankruptcy, HoiAhev-
Ism. governmental anarchy and Geo.
noiric chaos. Numerous wars ,Drokc
ont Tho world---and America par
t'cu!arly-'has been kent on war
I"ptinX Tor two years. while :, large
porlion Of Europe has slipped fur
thor towards utter ruin. American
troops are sim on the Rhine. France,
In constant dread and suspense, still
retains an idle atLnd!ng army OF g.
land 5000.
German roparations were deferred
wv" years with inca!cuiable loss To
n.r and /" Europe. and Germany IS
~" Key 10 the European cconomic
situation. with the result that her
c"'ninercc and industry. the activities
.! which gai!uttG out through all m.
Countries or Europe and Russia, re-
hla'nrh dried Up. German Industry
I this lat" date. In only operating
~ ." per cent capacity. while u grow-
tnE Indebtedness o: near 100000. 009-
goo stnrcs her In the face, and her
paper marks are nov selling At Less
thAn cent, compared with :3.s cents
'ar' european continental commerce
IL parnIy2rd. Their. has occurred
i;rea, deterioration in Ia. cities, the
!iiI~aya education and co!nmunica-
non. me adverse balance OF trade
hEa!nst Ensland. France and Italy
Gppr"tchaa 5000. 0o0.0 900 per annum.
Mar r.tnlations and restriction on
Europ.'s financial and productive uc-
uyi,i,s ar" not yet removed.
baNidson's Proposed N-volNinE Fund.
IN vain did Henry T.. Davidson and
other great nnanciers, as late an the
early spring Of 1920, fairly shout tina;
ne crisis liz SO acute that the SIT
Iati"n doe. not admit of delay, eN-
ctpt with the possibility Of consc-
Iuenc.a one hardly dares cont.m
p,a,e. Mr. Davidson ana many
*h" were then urging the creation
II "a revolving fund OF $500. 0Oo. 900 by
ms government, an amount insiS :
nihcant compared with the nation $
De placed In the hands OF strong
commission OF our ablest business
men 10 be utilized as temporary
credits TO tho helpless states OF E;i
rope. but in a safe aud feasible man
n"r' which Mr.. Davidson clearly out
lined. This amount. he knew, would
"hit-!e those countries to come back
20 normal.
THIS plan was received with deaf
rars by Republican, leaders bent on
every sort Of pandemcnium. II IL was
necessary 70 enable them later Ia
rarry thc national election OF 1920.
Unstable European government had
no hnancia! standing abroad and hut
little at home. Their bonds sold
n mi. In.
or unconsc!ousable discounts Lack
ing foreign credits. many Of these
s,Eernments sold their paper money
noroa" IN vast Hnan;it!es. and a,
'eAS l" give necessary aid 10 their
domestic financial and commercial In :
tereaia. or to establish sound none
cary systems. Ey tho beginning or
1870, the increasing obstacles had he
,"i"e too great. the load too heavy.
Tor these nations 10 bear Europe
Hhd become dcathly sick
Republican politicians, meanwhile.
We're storming at those countries 10
Z" 10 work. knowing they had neither
i"%' nor materials; they We're raw
terest due us. knowing that they we're
Then starving and helpless The peo-
PIE or the twelve or ;ictccn states in
.ut ope. already referred 10 as hav-
ing occn left most cn:ccblcd by the
war. could hold out no longer than
tho fore part OF 1920.
Not Financial Panic.
ne present Is not Il financial panic
either III the old world or the new !:
neither is II traccablc To famine nor
I" Wild speculation and voluntary in
! NATION, nor 10 any large Industrial or
business failures sUch as has been
true OF past industrial panicS This
panic came as Il direct and nroXimat.
result OF the failure and utter in
ability of II large portion of Europc
l" go 10 Work in 1919 and increase
n
having thus become helpless to buy.
H'her countries could not cell. Given
Tue opportunity rapidly to produce.