Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-08
SEEK AID OF j. s.
TO SAVE GERMANY
British Broach Subject as COL
lapse Of Mark Brings
Financial Crisis
FRANCE IS STORM CENTER
Rv Associated Press

London. July S.-Amprican Embassy
officials said today that while no formal
! representations had been made by the
British Government looking to the par
ticipation Of the United States in allied
efforts to rehabilitate Germany. the
subject had been discussed for some
time IN diplomatic and other circles and
the hope expressed that the United
States might be induced to lend its sup
port to the project.
In the present state Of Europr's 8
financial depletion little can be done
by the Allies to restore Germany's shat
tered economic structure without the
assistance of the United States. Am
bassador Harvey has discussed in
formally with Prime Minister Lloyd
George and other officials the financial
plight Of Germany and Austria and 1t
is believed he has laid the British view
point before the State Department.
The collapse of the German marks is
accompanied by reports that Germany
will be unable to meet her July repara-
tions payment due week from today.
The plight of the European exchanges
in general calls for some gloomy COM
menta.
The financier. Sir George Paish. who
condemns Frances attitude on the
reparations question, has an article in
the Westminster Gazette declares that
the situation is rapidly moving toward
complete destruction Of the value of
the German currency and that probably
no country will suffer more than France
in this disaster.
Berlin, July S.-By \. P)-Thc
sc. 900 900 gold marks required to meet
the July installment Of Germany's rep
aratons payments were gathered In the
Reichsbank before the mark entered
upon its present headlong plunge:
Parliamentary circles are deeply en-
crossed with the prospective realignmcnt
Of the Government coalition and the
prevailing political situation and appear
comparatively Indifferent to the fate OF
the mark. Official quarters also are
averse to talking freely on the subject
while the transactions with the Guar
antees Commission are going on.
The ReichSbank has confined It's ut
tnrances to a communiQue to the effect
that the printers strike has brought
the money presses to a standstill and
rs result the banks ready stock Of
finished currency Is wholly depleted.
1t hopes to tide over the period by is-
suing an emergency JO0-mark note. The
shortage of big bills is already giving
trouble to tourists whom the banks and
hotels load down with bales Of 20 and
30 mark notes.
Washington. July S.-By A. PD-
Solution of the German financial and
industrial problem rests with France.
in the opinion expressed today by we'll
informed economic experts of the
United States Government. American
In any relief measures for
German rehabilitation under present
conditions was regarded by some Off
cials az an economic impossibility.
The German situation was described
as solely question Of German credit,
which rested upon the rcparntions
terms. Unless France is willing TO
make concessions in the matter Of rep
nratlonN to enable Germany to carry
her burden. Germany, it was asserted.
cannot hope to borrow money to con-
tinue her rehabilitation and meet repa
rations payments.
The French franc, officials pointed
out is falling as well as the German
mark. and 1t is believed here that
more stable German currency would
he reflected in an Improvement of the
+ FrenCh exchange DOsitiOn,