The New York herald., 1922-12-16
SUPPORTS
POINCARE POLICIES
Cont.Mued from First Page.

Cont -Mded from flrst rage.
ties with the Lloyd George Government
evoked loud applause from all sides of
the Chamber The French Premier in
sisted that the London negotiations had
not really been ruptured, but merely
were to be resumed on January in
Paris. that the full conference in Brus-
sells might deliberate before January
l5 when the moratorium accorded, "or
ather refused" to Germany expires. in
asmuch as the Reparations Commission
virtually has refused to accept amy set
tlement which brings in neither pay
ments in cash nor IN kind. The Premier
said he did not intend TO give the de-
tails of the London conversations, but
asserted he had not changed his policy
as outlined in previous declarations.
His Policy Unchanged
"On no point have ! had to modify
the attitude I have taken before YOU.
NJ Poincare declared. indicating defi-
nitely he had not abandoned his inten-
tion OF taking isolated action if Ger
many's default should be proclaimed by
the reparations commission or be evil
dent in her refusal to meet forthcoming
PREPARATIONS payments. NJ. Poincare
tion as equivalent to saying, We'll,
We'll pay nothing. We demand the con-
vocation of conference of international
bankers who will examine the methods
of salvage, and will commence putting
them into operation, for the rest Of Eu-
rope as well as for u.s.
Thus" VI. Poincare continued. Ger
many's first conditions are the reduction
Of Germany's debt as well as the revi-
sion Of the schedule OF payments fixed
in 1921. which is the favorite thesis Of
numerous bankers throughout the world.
But Frances situation is particularly
difficult She will have advanced
100, 600, 00O. 900 francs before the end of
this year for Germany's account. and
will have received virtually nothing. 1t
is materially impossible for her to sup
port the work of reparation any longer
unless she receives effective payments
from Germany"
Cites War Debts.
Calling attention to tho fact that
France incurred debts to the Allies dur
ing the war amounting to nearly
13, 900, 100000 marks gold to the United
States and 10000. 900 900 marks gold to
England while Frances claim upon
other nations in marks gold was only
about 6.o00,000.0oo, NJ. Poincare showed
that the credit Of the United States
against all the allied nations might be
considered to-day as more than Al, ,000,-
100000 marks gold.
But" he insisted. "there is no COM
parison to be made between these debts
Of war and the Allies claims on Ger.
many. War debts were contracted be-
tween certain allies in order to achieve
the common victory"
At this moment applause encouraged
NJ. Poincare to declare what he consld-
cred a new policy: to consider the Allies
interresponsible for one another's war
expenditures. the Premier asserting:
These debts were contracted for the
purchase of arms and material, muni-
tions and foodstuffs for combatant and
fTaternal armies. They were, properly
speaking. contracted In behalf of n COM
mon victory. When they were con-
tracted the Allies were somewhat hur-
ried, but they hoped the day would ar
rive when these debts would be charged
against Germany as the vanquised en-
emy.'
The French Premier then recited the
well known history of how the Allies
abandoned their claim for the expenses
Of the war and demanded only repara-
ton of actual damages, which was con-
sidered to have priority over all war
charges.
But these costs Of war" NJ Poin-
care demanded. which should come
after reparations, are they to be ex-
acted by the Allies even before Ger
many has made reparation? IL the
friends of to-day are to be treated even
more severely than the enemies of yes
terday. II would be the most intolerable
OF int1uitics."
Ready to Pay Out Bonds.
The Premier then repeated his asser-
ton concerning the debt TO America.
I'VE have no intention Of contestlng
our debt We recognize Il. but cannot
meet 1t until we have received what
Germany owes us. Since June have
declared to the chamber that we are
ready TO give England and the United
States In payment of our debt to them
q corresponding number of Germanys
G bonds-those bonds of which the
Preparations Commission must sooner OF
later authorize the ISSUE
Recalling the broadcasting OF the Bal
four note early in July. NJ. Poincare de-
clsred, 'Inasmuch as until row the United
states is not disposed 10 accept this
settlement. we have been obliged to
adjourn discussion of the problem. But
this time real progress has been real
lied. We have studied the possibility of
n separate settlement OF European
debts. The discussion is open. l have
no despair OF bringing IL to success"
but while considering the reduction
of Germany's debt by England's accept
ance Of Germany's & bonds, the Premier
insisted that this should not diminish
Frances claim upon Germany, declar-
ing: After all our mutllatlon we eau
not diminish our rights unless we re-
ceive an increase OF percentage, or prior
ity." And he expressed the belief that
both interior and exterior loans would
be necessary 10 force reforms In Ger
manys financial system.
For without these reforms, without
efficient control, stabilization OF the
mark would be an Illusory operation,
more dangerous than useful and one
which would merely prccipitate the
crisis that II menacing Germany"
Declaring that close study had been
given Germany's demand for mora
torium, NJ. Poincare contended that
moratorium had existed ever since last
January. when she last obeyed the in
structions laid down in the London
schedule of payments. or 100000. 900
marks gold In cash only 450. .000. 900 had
been paid while OF 1,450. 900, 900 marks
gold i'm payments In kind. as well as
220. 600 900 for expenses OF the armies
OF occupation. Germany was still i'm de-
fault many hundreds OF millions.
y Y.a.-