New-York tribune., 1921-09-27
By Arthur S. Draper
From The Tribune's European Bureau
Copyright, 1921. New yo.lr Tr;h,,1


Copyright, 1921. New York Tribune Inc.
LONDON, Sept. 26. = The people of
Great Britain, as we'll as most other
europeans, are keenly interested in the
Forthcoming Conference on the Iimita-
ton of Armament in Washington. hnt
not 1or the sole reason that it offers
some sort of guarantee against an
other Armageddon more horrible than
the last, Just now there is consider.
able discussion of poison gases and
other terrible inventions of the scien-
tlsts, and there are expressions that
the conference should concentrate or
some scheme to prohibit these weapons
rather than come to an agreement re-
garding the reduction of navies and
armies. These suggestions, however
are not coming from the peoples of
Europe.
Already there is tendency to forget
the horrors of war and glorifv the
gigantic struggle, just as has been the
case, after every war, whether it was
fought ein Crimca, Egypt or America
Bptif memoriesSare short tn re- never.
theless is constant reminder in the
form Of heavy taxation and an un-
precedented amount Of unemployment
due to the general business depression
Would Cooperate With United States
Disarmament gives the hope of some
relief from these burdens, and conse-
quently Europe is in favor Of disarma-
ment. Thus economy is one compelling
argument. Another lies in the fact
that most European nations believe
they must cooperate with America for
their own future salvation
Briefly, that is the attitude of the
masses, but it does not necessarily fol-
low that the governments share these
views, though there is not the slight
est doubt that London, Paris, Rome
and every other capital hopes for an
understanding in Washington. Equally
true is the fact that all are anxious to
reduce national expenditures.
In other words, Europe looks toward
Washington, not through the glasses of
the idealist seeking some antidote
against war, but with the cold calcu-
lating gaze of the realist seeking a
remedy for his financial ailments. If
that seems a hard, selfish attitude, it
merely reflects the state of mind in
which Europe is living three years
after the ending Of the war that was
fought to end war.
European statesmen have to face to-
day no wave Of idealism which might
wreck their. prosac diplomatic agree
ments, but they have an extremely
serious economic problem to solve
What apathy exists here can be at
tributed to the fact that the states
men doubt whether Washington can
give much assistance in the solution.
OF the statesmen who made the
Versailles Treaty, Lloyd George alone
remains at the head Of a government,
and he knows best how greatly con-
ditions have changed since the dele
gates met for the first time in Paris.
The British Premier is not skeptical
He merely feels that his greatest duty
is to remain here at home to handle
the domestic problems.
According to John Maynard Keynes,
the United States has been lending
Europe at the rate of $4,000 100000 a
year. that sum representing the ex-
cess of imports over exports. He says:
Fortunately for Europe, fair pro
portion of it has been in the form
OF speculative purchases in de-
paper currencies.' Inciden-
tally Keynes declares that the Allies
will no more pay their American debts
than Germany will meet the rcpara-
tions demands. These statements are
CONTINUED on page thrcc)