The Washington herald., 1922-09-09
BY FRANK H. SIMONDS.

Inc latest deVelopments in the
eternal problem of reparations dem
onstrate once more how near it is
possible to come to the absolute
break and how difficult 1t is to reach
that point. One day we have the
cable filled with the familiar re-
ports of troops. French armies
mobilizing in Metz, Strasbourg and
Nancy, along the German border,
and the next the Reparations Com
mission at the eleventh hour hits
upon one more compromise which
postpones the catastrophe.
Postponement, however, is the
best that one can say for the latest
device. Nothing is settled. Germany
sought moratorium which France
opposed and Britain favored. The
French insisted upon material, pro-
ductive guarantees: the British op-
posed them. Now we have no NOR
atorium but an understanding that
Germany will not have to meet rep
arations charges for the balance of
the year. On the other hand We
have no productive guarantees, but
we see that Germany is to give Bel
gium bonds somehow secured, which
VIII cover the payments due in the
intervening period.
None Il Satisfied.
Everybody then is satisfied. or
more exactly no one is satisfied
The Germans get a form of mora
torium, but Poincare avoids the dis
credit Of having yielded to the Brit
ish and. Lloyd George remains un-
compromised by any sweeping con-
cession to the French. Practically,
the world profits by the fact that
the eighth anniversary of the Bat
tie of the Marne will not be cele
brated by new military offensive,
this time French.
In reality such credit and such
expense as attaches to the latest
arrangement goes to the Belgians.
Under the reparations agreements
of the Treaty of Versailles they are
entitled to first chance at German
payments up to a certain amount
What Germany would pay in money
for the next few months would GO
to them normally. therefore IL thew
are willing to accept bonds or other
promises to pay instead of insist
ing upon payment or productive
guarantees, there is no real reason
for French complaint and no French
risk attendant upon the respite
granted Germany.
Belgian Omeer Slain,
The Germans, on their part. with
characteristic adroitness have re-
warded their Belgian saviors by
a Belgian officer in the
occupied district. This interesting
incident. moreover indicates fairly
faithfully what is to be expected
on the score of German reorganiza-
tion of finances and Of currency in
the period which has been allotted
them. thanks to the Belgian inter-
OF course, if the Germans do not
reorganize their finance; do not,
In fact, satisfy the conditions which
the French will be able to dictate,
above all. il they do not put them
selves in an attitude and in a condi-
ton to resume payments a few
months hence, then we shall have
a new crisis, or rather another
acute phase of the never-endine
crisis. Nothing has been settled:
nothing actually disposed of. All
that has happened II that in the
presence of a situation where mill
tary operations seemed inevitable
the French. yielding not to the
British but to their Belgian allies,
have agreed to withhold their hand
Hostflities Are Reopened.
Meantime Poincare's response to
serves to reopen hostilities
In another direction. Two things
are to be NOTED in this communica-
tion. There is the point blank re-
fusal to pay. save as Germany pays,
with the clear intimation that II
Britain wants payment she must
aid IN collection. In addition there
Is a clever effort to take advan-
tage of the patent blunder of the
note, with respect of Amer
can public opinion.
In drawing a distinction between
he British and the American re-
alton to the war. the French pre-
mier unmistabably follows the
view of the majority of Americans.
For some of US the whole war was
American as much as European and
he German assault as dangerous to
Is as to Britain or to France. But
'nr the mass of Americans such was
lot the case and out of this senti-
nent has grown the feeling that our