The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-12-18
May Seek
In America
~ DAVID LAwrxNc1
(copyr!ght by che lnieil:gencsr)

WASHINGTON, Dec. IT. - PRESIDENT
Harding and his cabinet have mus iar
hssn discussing TWO broad phases VI
the European situation. the attisuue '"e
United states government Shooio a..
su,s in the event that France ana
Great Britain request this country 10
mediate or arbitrade the dispute as 'o
the amount OF reparation tiermans
should pay. and the meas
ures that should be taken on the init'a-
tive OF America to ease the econo"''@
burdens OF Europe.
Thu Idea Of an international economic
oorysrApce 70 be held in Washington
shortly after the new year begins ap-
Meals strongly to the ADMINISTRATIONS
which feels L will make greater nead-
wav with America public opinion IN the
long run II the conference Is held where
nil the moves and all the facts can De
seen at first hand.
But a European conference IS an ults-
mate and not an immediate step. Inc
first problem is really what snaps
American advice shall take. For thats
What Europe Is asking for. Ambassa-
dor Harvey was appealed to In LONDON
cnd ,hers is reason to believe otnefs
powers asked American diplomatic REP
resentatives for guidance In otner cap
j,ars The cabinet here spent It's FIJI
dav session almost entirely discussing
lust what America should advise.
There is unanimity Of opinion thae
the first piece Of advice snouio oe "
pe, a definite agreement on the amount
OF German Preparations. II France Is
willing 10 leave the fixing OF this sum
20 an American commission. this coun-
try may undertake the task OF aFo,-
trat;nr the dispute between Frances
,a.o ~ what Germany should pay ana
rho allied view OF Germany's capacity
TO pay. ~
ON the outcome OF that issue depends
something even more farreaching. name
" the floating Of a loan by information
al bankers. There seems 10 pc an i'"-
nress.on abroad that the United states
government can somehow sanction such
a loan. This is possible Of course out
highly improbable. the caolhel uiun'
discuss the making Of a loan oy tae
government or even the extension TO
american private bankers OF anything
that might be construed as a guarantee
OF moral support.
The only way the American govern
meut gets into the picture at all on the
matter of foreign loans Is to examine
them carefully in the light OF Its poiicy
OF a year ago which was announced 10
all bankers. IL eQuiTCu SAoS "hJ
er banking firm DESTROYS OF floating a
foreign loan should as q matter OF pat
rio.,c interest lay the proposition De-
fore the government 30 hat the latter
might !nterpose Its objection.
There Is no law to prevent bankers
floating any kind OF a loan they want
but obviously = government objection
would have as much weight morally as
a limitation OF law. The administra-
ton insists that loans must be made
for productive purposes abroad ana not
for the stimulation or maintenance VI
armies or navies.
II was proper therefore for ]. ?. Nor
ran, prime mover in the internattonal
6ankers' committee to the Washington
government to learn II II had any OBJ
lection to the revival Of the proposition
made 4 year ago whereby after a mora
torium was declared on Germany's pay
ment this year a loan might be advanced
to help Germany meet some current 90
LEGATIONS. Such a loan would be value
less II France and the allied power did
not give UP the so-called military sane
lions provided in the treaty OF Yer
sailles or ut least agree to withhold for
a period Of years the fulfillment OF
those sections OF the treaty. NO ban!. or
would consider for a minute the float
ing Of q German loan IL at any moment
France were empowered TO seize the
very resources out OF which Germany
hopes TO develop the money to pay her
obligations.
So the whole situation Is Interviewer
In such fashion that the President has
ssned Ambassador Harvey TO come here
at once and give his Viewpoint on just
how desperate Europe really Is and
what measures seem To him from an
intimate contact with Europe to be ad-
visable.
American aid has been asked. Presi-
dent Harding himself has let It be
known that he has no desire 10 avoid
-, exercise Of American influence: in
fact. that he desires to use II 70 the
utmost TO help In the present crisis.
The foreign governments have made II
clear that the United States because OF
It's detachment from European contro-
yersies IL In a strong position to make
its voics heard and It's views effective.
Mediation has been sought 1t win be
granted.
That's as far as any description Of
the present situation go. The American
commission created by Congress to fund
the allied wal debt Is restricted by law
from remittlng any part Of the principal
or interest. 1t seems TO be the consen-
sus Of opinion now that more power Is
not required In order merely to postpone
the paymen, or reparation.
For the world at large the situation
may be described az. hopeful because
the United States government Is thor
oughly alive to the dangers Of q Euro
pean collapse and Is putting a shoulder
10 the wheel 10 avert a catastrophe.
And the European public seem to have
the conviction that the moral and Geo.
nomic power OF the United States Is
sufdrient m meat the crlaiS succAas-
fully.