Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-09-02
BELGIUM FACES FACTS AND
ONCE AGAIN SAVES EUROPE
Her Reparations Program, Unanimously
Adopted, Indicates the Way for a
Rational Settlement Of a Lons
Muddled Problem

valorously delayed the German onrush
in 1914 now falls the honor of stemming n
tide of fallacies threatening the walfare of
both victors and vanquished in the World
War.
The decision of the Reparations Com
mission to relieve Germany Of the neces-
sity Of making any further cash payments
for the remainder of 1922 is direct con-
sequence of Belgian appreciation of reali-
ties.
AS the Brussels Government had been
invested with the role of favored creditor,
to whom these payments of go ,OOO, 900 gold
marks had been assigned. it was to Belgium
that French politicians of the mo respite
school appeared to look for support.
When this was not obtained and the
Belgian compromise proposal of n temporary
remuneration of claims was definitely set
forth, NJ. Dubois, the French Commissioner,
after a conclusive interview with NJ. Poin-
care. rushed back to the meeting room and
breathessy announced the acQuiescence of
his Government
Opportunity for long breaths all around
was thus dramatically provided. Agree
ment on the program was made unanimous
and the way cleared for what may even
tually prove to be rational settlement of
the infammatory problem of reparations.
French troops will not invade the Ruhr
French control of German mines and
forests will not be imposed. For six
months period. at least. accord of the
allied powers is virtually assured and the
long feared breach between Paris and
London is providentialy avcrted
What may perhaps he termed the higher
sclfshncss seems to have inspired the Bel
gian policy The course which has been
adopted is much less one of leniency than
it is of practical comprehension of a criti-
cal situation. Payments have been de-
ferred in order that payments may be made.
The French. notwithstanding their nor
nal justification for compensation for mon
umental losses and depredations. have un-
questionably been playing politics with the
rcparations question. The bluster of
demagogues has blinded the vision of a
heroic people so deeply wronsed and cruelty
ravased by war that they chafed under
delays and almost in despair have looked
to the spurious armor of militarsm for
relief
But whatever the ethics of the case, Ger
many cannot pay without co coordination of
her productive agencies and some rehabili-
tation Of her chaotic finances. 1t is this
dominant fact which Belgium has grasped
| in her relief plan now incorporated In n
new policy of the Entente looking toward
! German financial reform. budget balancing
and the issue Of foreign and internal loans as
possible warranty for declaring mora
torum, now refused
| The hHlf-yea respite granted is said to
| he viewed in Germany with modified satis-
faction. 1t is only natural that so far as
that country is concerned the only perfect
scheme would be one involving cancellation
of all indemnity claims. There is, of
course not the faintest likelihood that any
such policy of wholesale forgiveness will
| be instituted
| What is in prospect, however, and for
the first time since the ratification of the
| Versailles Treaty, is a reasonable treat =
ment of reparatons and the rejection OF
manifest impossiblities.
During the six months of grace accommo :
dation of the priority claims of Belgium will
be made directly by negotiations with Ger
many. apart from the Preparations Com
mission. 1t Is proposed that the deferred
payments be guaranteed by treasury bills
backed by an understanding agreeable to
Belgium or by gold deposits in some foreign
bank approved by Belgium.
There are hopeful indications that accord
on these details can be reached. In that
case avenues will be opened for approaching
the whole subject of reparations from the
standpoint of sound political economy anC
financial actualities.
While the French Government, accordinl
TO a Cabinet statement, still reserves fo
itself "entire liberty Of action" it is from
Paris that word comes describing the com
missions decision as anticipating in th
near future an allied conference at which
a reduction of the German indemnity t,
about $4,000, 100000 marks will be un
dertaken. Such sum Is considerably lowe
than that which American experts in 191,
regarded as suitable and just for impositio,
upon Germany.
The eleventh hour return to reason l
undeniably pregnant with possibilities TO
J authentic restoration in Europe.
The catastrophe consequences Of a dis
solution of the Entente need not be ex
plained to the most casual and aloof oh
server of the Old World scene. The Britis
contention that independent action b
France would be equivalent to tearing u
, the Treaty of Versailles is indlsputable.
= But the loss would be greater tina
that. 1t would mean political anarchy, tt
o graceless incitement Of dangerous passion
5 possible waste and ruin and the decline ,
a conyalescent civilization.
y 1t need not be asked whether the Belgia
Government appreciated fully the balefu
| x-.i4a Of ohstinacy In the nnest Of nhau