New-York tribune., 1921-12-13
Harding to Hold
II. S. Clear of
Economic Issue
President to Call No Con-
ference Here and Plans
No Participation in One
Abroad, Says Simonds
Reparations an Obstacle
Considers Financial Plans
Futile Until Powers Are
Agreed Upon Indemnity
BY Frank ri. Simonds

WASHINGTON, Dec. IL. - President
Harding will not call an economic con-
ference to meet in this city at the close
Of the present conference. If, as seems
likely now, an economic conference is
called tn meet in Brussels or some
year, the United States will not be
represented unless there is @ very radi-
cal change of mind. These two cir
cumstances, which became known to-
day, constituted disappointment to
not few Of the representatives Of the
foreign countries in this city, many OF
whom recently have expressed the hope
that the United States would at least
share in European economic discus
sion, which has been made inevitable
by the recent German default.
The American decision would seem
to be based upon two factors, one for
eign and the other domestic. 1t is the
prevailing point of view that no useful
end can be served by any economic con-
ference as long as the reparations is
sue remains unsettled, and there is no
American desire to undertake the re-
sponsibility and the obvious dangers
incident to bringing about a settle
ment.
Reparations Key to Situation
From the American official point Of
view the key of the whole situation in
Europe, economic and political alike,
although the United States is interest
ed only In the economic aspect, must be
sought in the repnrations issue. The
idea that the watch of the world can
be set to ticking again while Great
Britain and France are at loggerheads
over reparations is held to be mani
festly absurd. The United States has
great interests at stake, these inter
ests represented by her foreign trade,
which continues to decline with obvious
the contemporary question is, what
useful purpose can the United States
serve by participating in any confer
cnce as long as the fundamental con-
ditions remain both unsound and un-
stable 2"
There is widespread belief here
that no real progress will be made to-
ward economic reconstruction in Eu-
rope or in the world until England,
France and Germany can reach an agree
ment on the whole subject of repara
tions. There is no Disgusting the fact
that American expert opinion is on the
whole far moro sympathetic to the
British than to the French point of
view. At the Paris conference and
since the Paris conference American
expert opinion, official and unofficial,
has continued to believe that there was
not the slightest prospect of collecting
from Germany anything like the sums
which We're expected at Paris and actu-
ally named in the decisions of last
May. But the United States is not one
of the parties to reparations, and has
no intention Of undertaking to partici-
pate in discussion which obviously
would lead to a request for American
assistance, financial and otherwise.
Congress Also Hesitant
The decision not to participate in an
economic conference is also strongly
influenced by the fact that Congress
views with supreme suspicion every
sort of proposal which involves the
United States in the European financial
mess. There is pending now and likely