Every evening, Wilmington daily commercial., 1922-10-14

according TO Roger w. Baheon,--be-
cause of the recent action OF the stock
market. When interviewed In Wei
lesley regarding the matter, Mr.. Bah
son today said the seriousness of the
European situation is greater than
most people realize.
1T Is really surprising that the
stock market has held up so well dur
ing the past two weeke". he said. or
course the break was due to the grav-
ity of the Turkish situation which
wae understood cnly by the big bank
ers in New York. The real facts are
that France is today In quite n SINH
lar position as that held by Germany
in 1914.
"The real seriousness OF the danger
has somehow been hidden. The change
has come swiftly. A few weeks ago
England was In the saddle. At con-
fcrences she was the dictator. She did
tho talking and France did the very
ing. Today the situation Is just the
reverse. England is now In n hole.
Franco deliberately put her there.
England alone of all European ma
tions has stood for law and order.
She alone has stood for the payment
of debts, and the fulnllment of obli-
cations. Germany and Austria are
bankrupt. Chaos reigns in Russia.
Italy Is on tho verge of bankruptcy.
France is compromising. England Ia
tho only country who has told ts that
she will pay her debts with interest.
"Englands policy with Germany
has been In opposition to that OF
France. England has wanted to get
for France aa much ont OF Germany
as possible without killing the goose
that laid the golden eggs. France
was for killing the goose. but stu Tor
demanding the eggs. England was
Furopes big brother and upon her
the financial world has relied.
To-day England is faced with fight
ing Europe because she STANDS pfac-
tiCnllv alone. Tho new government
e Greece Ia not with her. Germany
alone. in case Of war is her only possl'
bio allv. The Germany Of today IL
not en- friendly terms with the Tur'
kew OF today. Should, however, Ger
many go in with England, there would
have to be an entirely new interpre
| tation placed on many European re
lat!onshlps and the problems of those
| relat.cnships. There ie the matter o
reparations. for instance. All inter
national finances would be upset.
Yes, England stands practically
alone. Italy will back Turkey. Rusei'
will back Turkey. And, Of course
France Will hack Turkey. Hence !
mus. be kept clear that the real Issue
Ia not between Great Britain an'
! Turkey. but between Great Britai'
and France. France has been back
/ ing Turkey. England has been hack
! Ing Greece Turkey and Greece. how
ever have been hut pawns on th'
! cheesboard.
When the last war war on, Rue~i'
was promised Constaptinople. 1tuasi;
| withdrew. Then. Il WAS decided t'
| keep Constantinople free, out OF th'
power of either France or England
England slowly sot bit OF the uppe
hand. This hurt tho pride Of Franc
VINO patiently awaited her opportunity
Last month II came. Then Franc
played her cards. In few hours tn
sxYt1re European situation changed
1T is not merely a war on paper
remember. Turkey is fortfying her
self by putting guns and troops n
strategc points. Frankly. Englan
is in a hole and this ia what cause
the stock market 10 break and for
eiCn bonds TO tumble. Her own peo
pie are against war. There is III
memory OF the recent bloodsheC
There Is still the warming mark @
great sorrow. An Englishman, toC
cannot see himself going 10 Turke
TO fight. When Germany thundere
in Europe right at Ensland's door. III
English Tommy was on fire 10 fgh
But today Il IL different. The Eng
hshman remembers sadly what hap
pened at Gallipoli. He remembers tn
fearful cost of conuuering n few Boer
in South Africa. He knows that ther
are over zoo. ZOO. 900 Mohammedans q
Turkeys back door.
Even the Engl!shman. VINO hash
son that Is already lost or a so
to lCse, has taxes 10 pay. England
with her intention OF paying her debt,
Is the only European country tina
really taxed her people severely. Tn
ordinary English tradesman is up
his chin in taxes. (England has IN
highest tax rate in the WORLDLY ii
Is not eager for more, the weight {
which would almost break him. TIL;
rs the proposition with which Eng
land Is faced She has either got I
fight the Turks at a tremendous cos
of men and money. without the fu
, cooperation OF her own people, {
else she has TO lose India, Egypt, PEI
s!a, and the Holy Land. Do you wor
|, der the stock markets broke?
What Will happen? | do not know
but what ever happens. there, viii