The Birmingham age-herald., 1921-04-05

1 of concern for the rehabilitation of the devastated regions. Advanced indem- mites have been given to the former occupants of the soil, and these occu- pants have removed to other parts Of the country and taken up their abode there. The salvaging of the abandoned war materials and the cleaning up of the war areas has been undertaken by influential groups of prom otors. who are making no effort to expedite the per formance Of their contracts. The fact that influential opinion in France sees iB the devastated region remarkable opportunity for political agitation which would make a deep impression on the minds of the peoples of France ano on foreigners has important bearing on the issue.
 The German government does not de- sire to see hate perpetuated between na- tions. In accordance with this purpose, it intends to submit fresh proposals on this subject to the government of France the details of which now are under con sideration and the subject of discussion with the laborers of Germany. Should the government of France entertain ob- jections to the employment of numbers of German laborers in the areas under going reconstruction, the government of Germany stands ready to offer to France good offices and resources in whatever form is acceptable.
 HER ONLY HOPE
 I "In respect of the second considera- tion, namely the immediate establish ment by Germany of an actual sum
 of cash money in foreign exchange, Of important proportions, it is obvious that Germany can fulfill this obliga- ton only through large increases in the volume of her exports. The mem | hu ha
 perts of Germany for use at, the con ference at London demonstrated how huge this increase in Germany's ex- ports necessarily would be if great sums of money were thereby to be ob- tained. and the meanace this great increase would imply to the economic life of their country's conceding even
 this, it further remains taht the sum
 in cash required could not be imme- diately realized.
 Other considerations have been ad-
 vanced at various times, among them
 the proposal that our former oppo-
 rents in the great war should partici-
 pate in the returns from Germany in
 dustry, either through taking shares
 of the capital stock of German com
 panies or by other forms of the shar-
 ing of profits. Such a proposal would
 Iroduce only proceeds in paper marks,
 valueless to foreign creditors. Indeed,
 the allied and associated governments
 themselves negatived these proposals
 in the treaty of Versailles by taking
 for themselves a first mortgage on the
 total wealth and all sources of iacome
 of the German commonwealth and
 states. In addition to this, the allied
 and associated governments in their
 deliberations at Paris reserved for themselves the decision as to what opportunity, if any, Germany may in any instance be given to obtain credit abroad because England and France , are themselves in debt beyond their ) limit and the granting of a credit tc Germany by neutral power is blocked
 by the general mortgage.
 INTERNATIONAL LOAN "An international loan in favor oi
 which the allied and associated gov
 ernments would waive their genera , mortgage, constitutes the only solu- tion of the problem. The government , of Germany is prepared to offer the necessary securities for the safety oi such loan. It is the opinion of ths
 German government that if the loar were properly organized and offered
 and if those who have evaded taxa tion be granted a general amnesty, the ! large sums of German capital whicl , have secretly withdrawn from Ger many could again be drawn in for the 2 loan ana tnerepy become dVdilaplo lol the reparations.
 Tt has been reiterated by the allied and associated powers that the condi- tion in Germany is better than that oi
 many of the allied and associated coun- tries, due to the fact that Germany has no foreign debts. Germany woulf anot be unwilling to assume the ob1iga- tion of the interest and the amortiza- ton of the foreign debts of the allied l and associated powers. within the limit } of her capacity, should this measure bt
 entertained by the allied and asso- ciated governments and their creditors Germany stands ready to meet an. proposal which appears feasible fol ) the solution of the economic and fl l nancial problems of Europe and woult 5 invite the examination by unbiased ex