Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-12-02
May Suing PdrIey
Into NelU Channel
Continued from Page One

lTOin Ihpe OHe
ahese, who have been working for de-
lay, desiring to see everything this Con-
ference might reveal before committing
themselves to any agreement.
President Harding's calling the Sen
ate leaders together to promote the
passage of the foreign debt funding bill
is move to prepare for what may
arise AS the situation stands now, the
Presidents hands are tied. Congress
shares with him the control Of the for
ejgu debt.
Believe Time Is Not Ripe Yet
l do not believe from all that I can
learn from Administration sources that
Mr.. Harding wishes in the immediate
tUturc to use the power which the debt
funding bill will give him. The feeling
Of the American Government is that
the time is not yet ripe. Europe is not
Yet sufficiently ready to face the renli-
ties for it to be profitable for the United
States 70 initiate any movement for the
economic restoration of the world.
This may be unConsCiously an excuse
for delay on the part of this country in
making up its own mind to do its part
toward setting Europe on its feet. There
are immense political difficulties here
in the way Of this Country's facing the
facts about the fundamental task, which
Mr.. Bnruch describes in the pregnant
phrase. getting the world back to
work. "
The obstacles to securing the passage
of the debt funding bill have been
lCssened By the present Conference. The
BOrah- johnson opposition is weakened.
The comparative success Of the present
Conference and the spirit shown by the
nations here have greatly increased the
prestige Of Mr.. Harding and Mr..
Hughes.
Bringing Big Problems
But it is an immense step forward
from a meeting in which nations are in
vitcd to lay their cards on the table
and from which no commitments in
volving the United States can possibly
come. to plan that. unless it fails,
must lead to the most enormous CO.
operation by the nations Of the world.
including especially the United States
Of America, that has ever been en-
viSaged.
Mr.. Lloyd George brings with him
virtually every real and vital problem
in the world: the fate of Germany.
land disarmament in Europe. the bal
ancing Of European Government bud
gcts, the worthless paper currency
puCston. rcparations and, most impor-
tant for us, the trying question of the
allied war debts to this country.
Europe and America throughout this
Conference have been bowling to each
other over the economic problem, each
saying, "Thc initiative is with you.
Neither side wants it. We do not wish
in the state Of the public mind to SuG-
gcSt canCeling of the allied debt. Eu-
rope has been unable to get together and
agree upon 4 sane program of govern
mental economy and sane attitude
toward Germany and Russia.
Europe SAYS to US: NATURALLY. we
are restrained by the proprities from
asking to forgive Us our borrowing, al
though we reel to smash if you do not.
We in turn say 1T is no business of
ours to suggest that Europe agree upon
sanc domestic and foreign policies as the
first step toward its own salvation. n
step without which we can not con-
slider debt cancellation.
Into this deadloCked international
situation Mr.. Lloyd George prcCipitatcs
himself. If he has n real program big
enough to appeal to the Imagination of
the world, big enough to draw Europe
and America together in facing the
facts. his visit will be the greatest in
tcrnational event since the war. If he
has not, his visit will be merely dra :
matte and the world will stagger along
unaided for lack of statcsmanshlp largl
enough to meet its needs.