The New York herald., 1921-02-28

New York Herald Bureau,
London, Feb. "a.
Let US cut out these peace con-
ferences and get back to work." de-
clared Col. Theunys, Belgian Finance
Minister. in an interview with the cor
respondent of THE New YORK HERALD
COL Theunys Is already weary of the
Near East wailing.
Belgium sees no possibility of con-
covery without loan from the United
States. She wants a billion dollars.
So this opinion comes not only from
a nation which probably has done
more than any other to recover from
the war, but from a man who is easily
the most interesting figure ON the
financial side of the peace conference,
Premier Jaspar of Belgium was with
the Finance Minister when he received
the correspondent for THE New YORK
HERALD. Col. Theunys did all the talk
ing. except when certain questions
were asked, to which he responded:
That is politics. You will have to ask
the Premier" And it is not only his
own boast that he knows nothing
about politics but also that of Premier
Jaspar and the Belgian people.
Colonel Uses Broom.
Col. Theunys formerly was chief en-
gineer for Baron D'Empian, builder of
the Paris Underground railway system.
the Lille tramways and many other pub
lie utilities In Europe and Africa.
When the Jaspar Ministry came in he
was chosen to handle the nations
finances and told to "go to it." Set
ting striking example for the incom-
ing clean sweeping administration. Col.
Theunys hired a private firm Of char
tered accountants and had them go over
the entire civil service payroll. The re-
suit was that what Whitehall calls
"limpets' and Washington lame ducks"
were fired literally by the thousands.
In support Of his conviction that no
settlement Is possible without America
Col. Theunys said:
THE United States entered the war to
defend right Belgium can't believe that
the great Republic can dissociate her
self from the work of justice In which
she so powerfully cooperated. Ger
many must make reparation for the evils
she caused. The plan for reparations
established In Paris upon a carefully
thought out economic base required in
order to be effective the cooperation of
American financiers. This cooperation.
essential to the restoration OF Europe,
Is not entirely complement to victory.
The actual economic conditions of the
moment prove that the prosperity of the
United States Is intimately connected
with European prosperity.
Europe after the shock OF war needs
temporary but important help. We
might compare our country with a great
and prosperous factory partly destroyed
by fire. II the capital necessary to get
going again is forthcoming the factory
will rapidly regain Its former situation,
and the banker will be the first to con-
gratulate himself over it.
What Belgium Needs.
"rhe credit the Allies need to get
along again isn't SO formidable an
amount az has been claimed. To begin
with, an international loan of $1,000
O00.00 secured in part by reparation
annuities. should be capable of being |
places In the United States. That would
probably be enough for Belgium. 1t |
would not only enable Belgium to meet |
her own capital needs but to set aside a |
scheme to let Germany borrow money to |
enable her to purchase raw materials
Besides the material aid which this |
represents It would have an important
moral effect and business confidence |
and credit means as much as capital |
The Allies are willing to part with this |
allocated resuscitation of Germany for |
the resuscitation of Germany's indis- |
pensable normal European economic |
life"
Col. Theunys has just had great sue
cess in floating a domestic loan for the |
rebuilding of the devastated regions. |
He sold 1000, ,000,0 francs last month |
and all issues we're heavily oversub- |
scribed. The loan was made In pre-
MUM bonds OF ESQ francs which we're |
sold at so, and. while all small bidders |
will get their applications filled. the
large ones have been scaled down so |
that the loan will be widely distributed.
There Is n drawing twice yearly In |
connection with these bonds for which a |
prize OF 100000 francs is offered at |
each drawing. This feature, which is
considered a lottery. debars the bonds !
from the American market. which Col. |
Theunys greatly regrets.
He has now proposed 1 per cent |
tax on all business turnover. only busi-
ness connected with the production of |
bread being exempt. He expects to COL |
lcct this tax by a system which. strange
ly enough, was invented in Mexico |
twenty years ago. namely: For each |
sale a postage stamp is torn In two. and |
half OF II is put on the invoice and half |
on the sellers books.
II is this tax plan which makes Col. |
Thcunys anxious to return to Brussels. |
as II is to come UP In Parliament next |
month. lie says that Belgian taxes arc |
only 200 francs per capita, that there |
are only 100000 unemployed In the |
country and that Belgium this year pro- |
duced 107 per cent Of her pre-war coal |
output, being the only nation In the |
world To enlial her nre-xyar nroduction.