The New York herald., 1921-11-22
German Payments Should
Be Lightened, Says Chi I
cago Merchant !
CHAOS LIKELYrTO SPREAD
Drastic Steps by This Country
Regarded as Necessary to 4
Save Herself.

special Despatch TO, rhn New York HnRAtp.
CHICAGO. Nov. 21.--James Simpson,
vice-president of Marshall Field e Co.,
who has been ON two months trip
to France, England, Germany and
Switzerland, arrived in New York on
Saturday night aboard the Paris, after
a rough passage. On his arrival in
Chicago this morning he authorized
The following statement:
"In Europe is economic and financial
chaos. Unless something is promptly
done TO avert the disaster which ap-
proaches with constantly increasing
rapidty it will spread from one country
10 another until we are all involved in
The maelstrom.
"The leading minds OF Europe, while
recognizing disaster. are looking as
through q fog and know not which way
to turn. They feel that their only hope
les in America assuming leadership in
tho restoration of an orderly state of
affairs rs between nations.
we Alone Can Save Europe.'
You may say What care WEI? Per-
haDs we do not, and thus far L must
confess it appears we either do. not care
or do not appreciate the consequences
that will inevitably result to our own
country if we continue our Indifference
10 European conditions. Let there be no
mistake. No country can save Europe
but our own.
s'Economie and financial questions
should be considered simultaneously
with disarmament discussions. They
are so closely allied they cannot be
separated. If we stand ready to give
Etrope voluntarily the immediate finan-
ctal relief that later we will be COM
PEELED to accord we can obtain the sup
port of European Powers for those
principes OF disarmament which we be-
iieye to be In the best interest OF the
world.
"ff we are prepared to lose every adj
vantage gained by the war IL we are
prepared to incur the enmity and hatred
Of the world, il we are prepared to
lose, the markets of the world for the
sale of our raw materials-grain, cot
Of the world, il we are prepared to
build a stone wall around ourselves and
live within ourselves we are pursuing
the right course. But If we desire to
live at peace and fellowship with the
world and develop our finest and best pos
sibilities as a nation we had better take
strict account Of ourselves.
IF we aspire to place as q leader of
nations, the obvious question follows.
what Cstu W0 no 500 IL lISL VI dfi, tuiIh
Congress, If it has not already done SO,
should confer on our President or Secre-
tary of the Treasury unlimited power to
net with respect to moneys; owing us
by other countries. Power to act is inn
portant because quick action is so vitality
necessary. ae
There should follow Immediately
conference with our alliesiafter which
neutral countries, ,apd perhaps Germany
should Join. Out of such conferences,
win surely come n plan to stabilize the.
exchanges of the world, without which
enduring commercial intercourse between
nations is not possible.
1T Is a mistaken impression that Ger
many is deliberately creating q condi-
tlon OF bankruptcy In order to obtain
modification of reparation terms. SO
long as present conditions exist she is
helpless and must continue working her.
printing presses overtime turning out
nioney until totaIl financial collapse
comes. And that will be in the near
future.
80 far as Germany alone can act two
courses only are opened; one to continue
as at present, in which event financial
collapse is certain. Such collapse will
rr,ohably-be followed by revolution.
.1"'rhe other course, the most likely one
fe) Germany to pursue, Is for her to de-
cine to continue reparation payments.
'rhen occupation would probably imme-
dlatcly follow. Occupation means indus
trial stagnation and, probably. finally a
rGDetition of what has happened in Rus
sia.
Should Have Breathing SPELL
rGermany must have breathing spell
I'll get herself in order. It may take
rem one to two years, during which
-fle SIC could organize herself to pay
rcgara, ion Of not to exceed 21A billion
gold marks per year as against the 4 y
at present demanded. She could raise
perhaps one-half of this amount by a
t6x or her exports, which at the highest
point before the war reached 10 billion
sold marks.
This 2Is billion marks per year
Sppuld continue for as many years as
necessary to pay the full amount finally
determined upon as financial reparatlon.
if Germany enjoys unexpected prosper
ity and exports should exceed eight bill
lion gold marks in any one year. she
should be compelled to pay. perhaps, 20
toes per cent. OF such excess on account
cf her Indebtedness for reparations.
= think the leading minds In Great
Britain have q kcener appreciation OF
the necessities OF the situation than
elsewhere. think England stands
ready 10 bear its share of the burden
~ extending necessary financial relief
TO the world. But England is not in
u tosition 10 take the leadership and
press France to recede from some of
her demands because of the many
points of differences existing between
France and Great Britain at the pres
ent time.
France must be persuaded that 1t
f. not to her own best interest to