New-York tribune., 1921-11-30
4 nlanciers See
Need to Assure
French Safety
Convinced Cure for Ills OF
World Lies in Readjust-
ments Planned to Aid
Both Sides of Frontier
Question of Reparations
Baruch Is Quoted in Con
te11tion That Peace Terms
Call for Modification

from TIE Trfbuae's Washin0ton Burrnu
WASHINGTON, Nov. 29.-The kew 10
relief for the ailments of the entire
world is in guaranteeing to France her
national security, according to some Of
the financial leaders Of the United
States who are, iguratively speaking.
standing behind the desk Of Secretary
OF State Hughes as unofficial advisers
to the armament conference. This CON
ciusion, Tor some time in the minds Of
a 1ew, is the outstanding reaction frozn
cabied dispatches to-day from Paris
stating that Premier Lloyd George will
propose to the conference revision Of
ene German reparations program. The
reasoning of the American financiers
1oilows broadly these lines:
settlement of the reparations prob
lem Is the one thing above all else
winch must precede worldwide eco-
nomic as we'll as political restoration.
Germany paIpably cannot pay under
the present program. At the same
time France, for her cwn safety. can
not permit her old enemy to reesin b;s
feet as healthy member cf TIE fami,v
OF nations, with possibly revived.
thirst for war
rms deep-seated det4. srniaation of
france to keep Germany BANKRUPT az
tne only means of preEensiag furtner
.roub!e furnishes comr'est iynpasse
!. .ne way OF settlement II sna lem
nltles. Therefore the only ..sss, 10 nd
!ustment Of the war costs on sound
oas's on economics is IN joint agree
ment by the Allied and associated gov
ernments guaranteeing France against
anotner invasion from across the
Frances Fear Is Real
The rufian is on his back. The
friends who helped him have left
ne cannot be allowed to get up, for
with these friends gone he is likelv
to start the trouble all over again :
IS the way one of the most prominent
financial authorities in America de-
scribed it to-day
real and tangible one, he stated en-,
phatically to be his belief. The rrirn
sincerity OF that country on this point.
ne declared, indicates clearly it's gen
uineness.
Discussing the possible war-makinr
powers of Germany once that countrv's
atonement burden is lightened. we'll
known New York fnancier who has
made a close study of the question
pointed out to-day that almost every
phase OF the industrial and commercial
life of a nation may be viewed in terms
Of military aggression.
= can look at any factory" he said,
"and see it as a maker of some kind
OF munltlon OF war. | see a piano fac
tory, and l see it an airpIane plant.
! see shop making silk corset covars.
and ! see it turning out silk castings
for high explosives. There is hardly
an activity that with the experience
gained in the war cannot be turned
70 producing war materiel in a frac-
tion of the time it takes to produce
an army.
1T is easy, iideed, to understand
why France does not want the repara-
t5ons reduced to the point that will
permit. the sound recovery of Ger
many"
Incidentally, this whole trend Of
thought is parallel, it was pointed out.
to an address made last December 10 bv
Bernard NJ. Baruch at the reunion Of
the members of the War Industries
Board here. In the course of his re-
marks, Mr.. Baruch said:
- HA0ilCS anu Jile OLHeT Ail1eS are
to be compensated, Germany must
get to work.
IF Germany is not to go into decay
and dissolution, into political and
economic degeneration, with all it's in
transitional reaexes. she must be
started Alright now.
If we are to dispose of our surplus
products, Germany and the rest of
Europe must resume commercial and
industrial activity so they can be the
customers of old.
"Whatever the final arrangements,
they must be just to France, Belgium,
Italy and to the other countries Ger
many ravaged and robbed. On the
other hand. the burden placed on Ger
many must not be such as to ensIave
her people, though it must be up to
the very limit of her ability to pay,
Also the Stumbling Block
France, which is more interested in
the early settlement of this question
than any other nation, is also the
stumbling block to it's realization.
the attitude Of France is
not unreasonable. Remember that
France through the agony Of four
years defense of civilization sacrificed
] $4,000 OF her sons and endured the