The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-05-01
Another Indemnity Offer

AHo1HeF INDEMNIFY 'O1Tef
The dispatches published in Monday
afternoons News give a much more
encouraging aspect to the attempt 10
settle the German indemnity. They tell
that the Berlin government has at last
decided to make real offer. one that
is not mere bluff and buster, but one
that the British can encourage their
allies. the French. to accept.
The offer, as outlined in hints from
Berlin, was that the capital sum OF
$50. o0o. 100000 gold marks should be
the indemnity; that this should bear
interest at rates varying from an in
ittaI per cent upward, SO arranged
that the total distributed over the 30
years allowed by the Versailles treaty,
would come to over 200, 000. 000,0 900 gold
marks, or near tho sum set by the al
lies in their March conference.
The offer varies In several important
| respects from the original allied de-
mands. First, the 1871 per cent export
tax Is not mentioned. In this feature
there are few who will not agree with
the Germans. The imposition of the
export tax would have stopped the
very thing from which the money In
demnity would have been set-German
exports. American bankers and finan-
ciers who have discussed the repara-
tons demands, while in disagreement
as to how much potentially Germany
could pay, have been in substantial
accord that an attempt to get an ex-
port tax of an eighth OF the value of
each article would practically nullify
any ability that she possessed to pay
anything.
If Germany offers to pay 200, 000, 000,-
600 gold marks she can do so. Her
government would not propose to do
something it did not feel it could do.
II Berlin really has recognized, as it
seems she has, that the United States
viii not countenance or aid her in an
effort to make a ridiculously small in
demnity suffice any more than we will
aid in an effort on the part of our
allies to take more than Germany can
pay, a settlement will not be long in
coming.
Great Britain's moderating influence
is enough to cause France to ponder
ere she rejects real offer from Ber-
lin. The needs of France are too i'm
| mediate TO hesitate over, If a true Of
fer comes. And the good offices Of
| the United States in pointing out to
both sides of the indemnity impasse
that moderation and get-together were
| the needful things, have undoubtedly
been of great effect.
! The new offer from Berlin can be
counted on as an outcome of Secretary
Hughes first note to Berlin, in which
he sternly warned Germany not to at
tempt to evade her just burdens, and
the allies not to seek a penalty so
heavy as to prevent German rehabili-
tation. It is a good omen, and much
may come of it..
| Along with the new German offer
comes the likelihood that peace be-
tween the United States and Germany
| by resolution, is close at hand. If the
| resolution is specific enough, it may
not hurt. But what q, pity We are not
in the league, where we belong, so that
we could have escaped these two years
| of technical war and virtual blockade.
| However, all in all, things look more
hopeful. The dove of peace may fly
to Europe again; the opening of fac
tories, loading Of boats, selling of
! goods and cutting away of trade bar
r;ers will be a blessing to an impro-
vised and painting Europe. The in
demnity settled, Germany can go to
work to pay it. She seems offering
safeguards enough. Let US hope there
will be t.-Chattanooga
News.