New-York tribune., 1922-08-03
British Public
Pleased Over
Note ON Loans
Press Opinion Shows Wide
Divergence, With Some
Alarm That II. S. Will
Consider an Affront
Hold Scant Hope for Gain
''Times'' Fears Prospects
for Cancellation Are
Not Improved by Move
FROM The Tribune's European Bureau
tr..i

Copyright, 1922 New York Tribune Inc
LONDON, Aug, .. -. While press
opinion on Balfour's note suggesting
general debt cancellation to include
the United States shows 81 wide diver
gence, the public here seems to be
pleased with the declaration. This
attitude confirms the opinion held by
those members of the government who
insisted that the British, no more than
the American Adm inistration. could
hope TO face the electorate with the
declaration that 1--WE have released
our debtors, but must pay our cred-
tors"
Harbor No Illusion
In the meantime the mass of the
people harbor no illusion that anv
considerable part of the money owed
to Great Britain ever will find its way
into the treasury This was freely ad-
mitted to the Tribune correspondent
by officials who speak with authority.
1t also may be noticed that the phras-
ing of the note leaves wide scope with
regard to the reduction of the British
debts receivable. Thus France, Italy
Belgium and Germany, who between
them owe Britain f2,750, 900 900, are to
be held responsible on paper for s9OO,-
100000, the amount of the British debt
to the United States. What proportion
of this will be allocated remains for
the conference of next week to deter
mine
The offer to forego entirely the Ger
man indemnity was conditional on a
general settlement. and in the opinion
prevailing in official quarters the start
ing poin. will be reduction in the
German payment in the same proper
tion as the Allied ones.
Condemned by Liberal Papers
tion of the confusion surrounding the
whole situation than the response of
the British press to the Balfour note
Some Liberal papers condemn it as un-
timely. They are Joined by the ultra
conservative Morning Post" which
sees in the document an affront to the
United States. "The Times" which has
been strongly pressing for cancellation
fears that the prospects are not i'm
proved by the note. THE Daily Chron-
icle," which is closest to Downing
Street, takes the optimistic view that
two-ffths of the debts owing to Great
Britain are wiped out.
PARIS, Aug. 2--The Journal Des
Debats' says regarding the British
note that the whole question is what
effect the British Cabinets appeal will
produce on the United States. The
newspaper regrets that sucn an appeal
was made at the present moment, just
before the American elections, when it
says the party in power does not pos
sess full liberty of movement.
"It would look as if the British
Cabinet, knowing Premier Poncare
had a plan to propose, wishes to cut
the grass from under his feet" de-
clares the newspaper. w.
The Temps" asserts that the Brit
ish government presents itself "as sim
ply the collector of American credits
the other Allies playing the role OF
! hostages Such, however, is not the
| ultimate aim of the British What
Great Britain really is seeking is tc
influence the United States. Great
Britain would have the United States
show itself most generous, as all the
real cost of the operation then would
fall upon the United States.