Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-05-23
EUROPE SEES HOPE
IN MORGAN S VISIT
BY MAMMALIAN HARDEN,
Germany's Foremost PubliCiSt

new Europe IN the D1rInpIdCe VI W.
lumbus. Today there is substituted
another hope, namely, that the
steamer bringing J. Pierpont Nor
gan, like another far distant pilgrim
vessel, bring blessings to those in
sore need. Genoa's dying son dis
covered a new world when seeking
India why should not the bold Wall
Street imperator discover that peace
and paradise on the way to big
business?
The promise of abundant finan-
cial help has been whispered over
the foaming prov Of the Olympic in
mid-ocean and the maritalist humor
Of the day is giving it hearty wei
come than the gospel the apostles
received. At last the people hear
that dread high finance has decided
to grant a loan thus saving Ger
many from the PREPARATIONS pincers
and meeting Frances urgent need
for money. 1t sounds good and, to
readers weakened by initiation,
tastes like a glass of Pommery or
Mouton Rothschild after long pro-
hibition, but in this world of reali-
ties it is not as easy as it looks on
paper.
If the bankers who make up the
Golden international grant us the
loan they will demand high interest,
sure guarantees, and will say that
the land that pays 2,400 marks a
bottle for 1921 wine-the best vint-
age in century-can pay interest
also and furnish guarantees which
must be rigid to prevent further eX-
travagances in a country whose
most prominent class is to live
luxuriously despite the nations
debts. Thus it will be impossible to
borrow sufficient gold marks with
out giving international financial
control through mortgages on the
railways, posts, telegraphs, indus
trial and landed wealth. The inter-
est will be terribly heavy and the
loss of sovereign rights intolerable
for a highly cultured nation.
Colossal Debt
Would France be saved even)if Ger
many submitted? She has an internal
debt of 100000, 100000 francs and
foreign debt Of 100000 francs,
requiring about nine billion francs
annually for interest even if nine
billions owed her by small allies are
unexpectedly amortized.
Political conditions, it would seem
to me, are much more important at
the moment, namely, no more mill
tary sanctions by France and re-
duction of the armies of occupation
What was omitted at Genoa, es-
pecially on account of the untimely
Russo German treaty, should now
take place in the way of thorough
clearing up of the Franco-German
relations. The key to the European
peace temple is in Paris. After
Lloyd Georges inVective, and the
way France has been pilloried as a
peace disturber, she will be less in
clined than ever to disarm and aban-
don her strategic Rhine positions.
Distrustful fear, not hatred and
conquest, explain her attitude. Her
Oldest ally, Russia, who nourished
her distrust for Germany, not only
failed as a protector but since 1917
has turned against France and even
is trying to escape her debt of
twenty billion gold francs. The
United States not only failed to
ratify the Versailles pact but vetoed
Wilson's promised guarantee. Great
Britain, who got all she wanted
from the war and will never allow
Germany to rebuild her fleet, ex-
poets resignation from France, plays
peacemaker and threatens to dis
solve the entente which, after all,
was merely the child of a mutual
anti-German marriage, and takes
Italy in tow, for a country with
long coast line needing coal does
not dare risk the enmity of Eng
land.
Made Three Mistakes
France is in a position, which if
it were unalterable, would be tragic.
by an expenditure of tremendous
energy, military surprising all her
allies she won a victory which
ruined her financially. The hoped
for German indemnity never can re-
compense her for her losses and
she has made a collective peace
treaty which can be effective only
with the consent of all signatories.
The French policy, wrongly called
lmperialistic, is cursed with I'M
frultfulness on account of three
mistakes. First, she forgets that
IN Europe from which Russia has
disappeared as an active political
factor France at enmity with
Germany is wholly dependent on
England's good will, whose interests
are exactly the opposite of those of
france; second, if Germany is
aroused to such a tremendous ex
port activity as would be needed to
fulfill half the Preparations it would
not only ruin England's trade but
Germany would become much
stronger economically than France.
hence her most powerful enemy in
dustrially nowadays means power to
make war. To prevent this danger
France makes the third mistake
when she opposes the necessity for
general disarmament and refuses to
abandon the right of military sane.
tlons-though even Foch opposes
any Ruhr march-thus reapine- the
hatred of besieged Germany.
is this situation unalterable? No
france needs a special treaty which
heeo not be mllder only more reason
ape and practicable than that of
versailles and an economic and
customs union with Germany which
would preserve her from attack
more surely than the strongest
Rhine army and could be held nv
Roth to secure ample coal, iron
potash, petroleum, needed. A great
colonial empire would then begin tn
flourish and the present unnatural
conditions would end. Who could
doubt that Franco-German econ.
omlc union would receive large
reconstruction loan from the United
States after an understandings for
world peace?
Wilson G. Harvey
Becomes Governor