New-York tribune., 1922-12-16
AReparasionC Conference

AReparation Conference
Washington dispatches foreshadOw
the calling Of an international con-
ference 70 discuss German repara-
tons. or, at least, the submission to
the major Entente powers Of an
American plan Of adjustment
The economic effects Of the reps-
ration deadlock arc troubling the
whole world. 10 was one Of the
worst blunders Of the Versailles
treaty that il sought TO collect the
indennities demanded from Ger
many almost exclusively IN gold coin
"a procedure which was bound nos
only 70 shake the economic fabric Of
Europe but TO have disastrous reper-
cussions on every other continent.
Our people have suffered from the
disturbances caused By Germany's
dishonorable maneuvers 70 destroy
her own credit, 20 simulate bank
ruptey and to avoid paying her
debts. We did not ratify the treaty
and are not responsible for its mis-
judgments. But we have TO pay the
penalty for them all the same. The
European markets are closed in q
large measure 10 our exports be-
cause Of the German default and its
paralyzing effects on international
trade. The hard lot Of the American
farmer in the last couple Of years
has been made harder by inability TO
sell his surplus products abroad.
The failure Of the Versailles
treaty left the United States de-
tsched FOR a time from European af-
fairs. But that detachment was arti-
fetal and temporary. The Harding
Administrations has been gradually
and skillfully working back 70 nor
NAL cooperation as fast as the state
Of mind Of Europe and America
would permit. The negotiation Of
separate treaties with Germany,
Austria and Hungary was followed
by the Washington naval limitation
and Far Eastern settlement The
time is now ripe for the eTertion Of
American influence TO end the repa-
ration tie-up. We are again interest
ed and Europe is receptive. President
Harding Is therefore willing to call
together the powers which are try
ing vainly to execute the treaty and
TO offer them American counsel and
aid.
This he can well do on the scorc
both Of national interest and Of
world service. He can point the
way 70 general economic tranquilli-
zSton. Il will be for the European
Allies and FOR Germany 10 say how
far they viii follow Il. II ought not
20 lead TO any condonstiOn Of Ger
man criminality and bad faith.
The position Of the United States
was clearly stated in April, 1921,
when the Fehrenbaeh Ministry was
trying 70 get our government 70 in
tervene 70 save Germany from the
necessity Of accepting the findings
Of the Reparation Commission. Mr..
Hughes then wrote: "This govern
ment stands with the governments
Of the Allies in holding Germany re-
sponsible for the war, and therefore
morally bound 10 make reparation,
30 FAR as may be possible"
Germany has never recognized
this moral obligation. Complete rec
ognition Of il and the taking Of
measures 70 enforce observation
thereof should be prerequisites Of
any reparstion settlement. Other
wise Germany's policy Of evasion
would be vindicated. She would win
the peace, although she lost the war.
Tt is idle 20 discuss q revision Of
reparations or a possible American
loan or any other aid to Europe that
is not built upon this foundation Of
justice