Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-12-06
Urges Europe Act
to Assist Itself

Coutlnued from Fare One
out BY the nations more directly con-
Cerned. They must themselves turn 10
the heroic remedies for the mehaclhE
conditions under which they nre
struggling. Then we can help ana We
mean to help"
For Normal Relationships
The President recognizes our interest
Il hplping. ''Because the commerce
and international exchanges in trace
arn nossible only when the nations ot
all continents are restored to staOla
order and normal relationships
The direction in which the Admins"
trationS mind is working 10 perfectly
plain from the foregoing and from Dig
cusSions one hears In Informed circles
The position Of the President and his
advisers is that he European nations
must set their own house In order,
must balance their own budgets, must
reform their own systems of taxation
aud cut down their own military cX,
Ucnditures, must stop the imitation ~
their currcncies and begin to debate
thcm before this country can 10 any
ihinc t, help. It IS held that many re-
fOrIns necessary to world recovery are
country cannot suggest.
World in Polite Deadlock
On the other hand, Europe as repre-
scutrd at this Conference, Is waiting
for this country to take the initiative.
Europe believes that the key TO it's trou-
hlcs lies in our holdings Of European
paper. What We shall do about that
deLt, Europe feels It is not becoming
for herself TO suggest
Thus there is q sort Of polite dead
lock- in the world over economic rCcov-
ory. Europe and America bowing to
each other and saying, ~ am waiting
for you.'
On tho subject Of this allied debt, the
President, In his message, g hows that
his plans are nrt matured. just rs he
does in his suggestion that this cOun-
fry can only help after Europe has taken
the initiative. The President puts the
Debt Rcfunding bill first among the
measures he advocates. For this blIl
he argues:
"lt will be helpful to ourselves and it
will improve conditions among our
debtors if funding aud the settlement
Of dcfau'tcd interest may be negotiated. y
And he promises Congress "to adopt
no major policy in dealing with these
matters which would conflict with the
purpose of Congress in authorizing these
loans. certainly not without asking
Congressional approval"
There is not the faintcst sign in all
! this nor in what one hears in Admins
! tration circles that Mr. Harding in an
economic conference has any intention to
cancel oil or part Of the allied loans
ne a means of lowering German rep
arations or reducing the outstanding
paper currencic3 of European nations
! so nS to promote the economic recovery
| of Europe and improve our own market
! there.
First Move Up 20 Britain
I \ step like this seems far off and
/ the initiative seems to lie with Great
/ Britain. the other Power TO whom the
continent owes largely, rather than with
iuE. Funding Of the debts and long
morHtoriUms for the debtors are prob.
ably contemplated. but nothing beyond
this.
Only long continued and unsuccessful
experiments at restoring economic con
dtions are likely to lead this country
to consider our holding Of allied paper
as rriatcl t. the present depression
In the message f. satisfactory evidence
that the country moves toward world
wid" corporation, even IL it does Sc
slowly.
The pledge 10 help is an advance
The tariff Is no longer considered il
that iSolationst spirit in which Con
greSSmun FOrdney went at it las
spring. 1t is realized in tho message
that We cannot both exclude foreign