Hickory daily record., 1922-12-23
DIFFICULTIES OF A CONFER
sa ENCE
Pcnuhlcican.

Springfield Republican.
The most conspicuous evidence thas
our government could give Of an in
tention Of participating in the affairs
of Europe would be to take part Ill
an international financial conference,
whether the obviously projected one
at Brussels or one specially convened.
Such hopes as have been awakened III
Europe by vague rumors of a change
of policy at Washington obviously
center to great extent about the pos
sibility that the United States may
be represented at such a conference.
Thus far, however, the United States
government, while enfvhasiZing IL:
concern over Europe's financial plight,
has in no way committed itself in re-
gard to representation at financial
conference even bv an official OBJ
server, a half-hearted participation
which at this stage would do little
good.
1t may be that conference is the
most expeditions and efficient means
of dealing with problem common
to a group Of nations whose interests.
are in part the same and in part con-
tIicting; our government certainly
favored it in dealing with the Far
East. But problems are not automotl-
cally disposed of by getting a con-
| ference together for their discussion;
they NAV be made the more difficult
by the clash of many opinions unless
| the ground is prepared in advance.
The London conference of the allied
premiers was held to prepare the
ground for the projected conference at
Brussels, but Premier Mussolini has
declared that this preliminary confer
ence failed for lack of preparation.
There is no magic about conference: {:
if nations are not ready to move in
the same general direction the most
carefully projected conference will be
wrecked. 4.>
There is little to be hoped for
! from American participation in fin
| ,llcial conference unless the United
States is prepared to offer something
besides advice. Advice is one of the
| heapest things in the world, and no
country is so poverty stricken as not
o be able to produce all it needs for
lome consumption. Nor is anything
more irritating to Europe than the
assumption that the favored position
II which the war has left Americ;:
5 the result of superior wisdom and
'irtue on our part. Advice is a pill
| hat may have to be swallowed, burt il
will need to be we'll sugared-what
!as America to offer in the way OF
swceteninG?
For the cancellation of war debt;
Europe would swallow good many
bills, and indeed for / billion dollars
t ought to. On the other hand hardly
he slightest gratitude is shown foI
he proposal that America heln Europe
w letting American bankers lend Ger
aanv as much monev as they are dis
posed to risk-that proposal will not
'weeten g single pill. Between these
'Xtremes lie MANY possible proposals
he most OBVIOUS Of which ere long
moratorium on the debts to the United
States and a scaling down of theis
otal to correspond with reduction
If interallied debts and of the Ger
nan indemnity.
he administration has been inflex-
ions. the interallied debts and debsa
o the United States are all separate
matters which must be dealt with
'eparately on their merits. But i,
'egard to a moratoriupl it is not
|
icnt by the action Of Congress in fl.
ng the rate Of interest and the tine
vthnii which the debts to this country
must be paid. but if through post
,onement valuable onds cou4e be gain
ID President Harding would be war
'anted in asking Congress for au-
.horitv to negotiate on these lines
and if the case were clearly tru>
'ublic opinion would probably sup
,ort his request. But the trouble Is
hat such a request would have tx
follow rather than precede cor
ference Of. the kind contemplated
md the question is still unanswered
what an American delegation coulC
AXE to such a conference that would
serve as basis for negotiation. Ou,
governments position is much more
lifficult than is generally realized
md it is well to avoi1 facile optin..
:. SIN in regard to its efforts to reliev,