Evening star., 1922-02-13
Grounds of Keynes Argument
Why Treaty Must Be Revised

, cannot now honorably alter simply be-
cause We have the power.
When 1t Is realized that the total
amount assessed for pensions and al
lowances is twice that for "restora-
| tfon." the importance of this phase
Of the reparations question Is readily
seen.
His charge that the amount assessed
for restoration Of the devastated re-
gions is immoral is based on the con-
tention that 1t is grossly excessive and
not in accord with admitted facts. and
In support of this he sets forth a rather
terrifying array Of figures. The sub.
| ject is long and intricate one. but
| sufficient illumination on the Keynes
method Is to be found in his treatment
of dwellings in the invaded region Of
France.
He quotes official statistics to the
effect that 293,733 houses were totally
destroyed and 296.502 were partly de-
i stroyed. Taking as an average that
the damaged houses were half de-
stroyed. this would figure as the
| equivalent Of 442. 600 houses wholly de-
stroyed. The French claim for dam
ages to houses Is $4.192.000.000. Divid-
ing this sum by the number Of houses.
house. Had all tho houses damaged
been wholly destroyed. the average
! claim Der house would have been about
$1,000. The houses destroyed and dam
| aged were chiefly peasants and miners
cottages and the tenements of small
country towns. He quotes M. Loucheur.
| minister OF construction. as saying
I such houses were worth about $1,000
each before the war. but would scost
$4,000 each to rebuild since the war.
| The claim for damage to houses is
I exclusive Of furniture and fittings.
rate claim for s2.S5O.0O0.0O0. With
| $4,000 houses destroyed and dam
aged. this would amount to an aver
! age claim of nearly $4,000 for furni-
ture and fittings in each house of a
peasant or miner destroyed or dam
| aged. Il hesitate to guess" says
shows itself here"
! Tho claims of Great Britain. Bel
| gium. Italy and other allies are sub
| ing. but the details would tax in
| tercst after the case Of the French
! houses.
So after two years of additional
study of the problem, Keynes still is
| Of opinion that the treaty must be
revised, both because it is immoral
and because it is impossible Of exc
cution. He hopes the United States
will be willing to assist in such re-
| vision. II not, he wants it under
| taken without American assistance.
| In view of what he believes to be
both just and possible. he wants
the problem of European affairs set
| tied on this basis:
| 1. Great Britain and. If possible.
I a m - V(so
owing them from the governments of
| Europe and to waive their claims to
! any share Of German reparation.
| 2. Germany to pay 1850. 100000 gold
marks tabout s300,O00.0O0) per annum
| able a lump sum of 100000. 600 gold
marks for assistance to Poland and
| Austria.
3. The annual payments from Ger
ooa eod mark, m the
F.! and 180, 100000 to Belgium.
Italy and the other allies. except
| France and Belgium. would waive
their claims to reparations and. in
the debts they owe to England land.
| If possible. America, too"
| This, Mr.. Keynes argues. would be
just, sensible and permanent settle
| ment and he adds: III France were
sacrificing the substance to the
shadow"
Mr.. Keynes thinks eventually the
United States will cancel the Euro
pean debt. but he comedies that agi-
| tation to that end at this time may
| be premature. For the present. there
| fore. he thinks. America must pre-
tend she is going to demand the
money and Europe must pretend she
is going to pay it,"
! His consideration of the debt ques-
| ton gives US an entertaining look
| at ourselves through British eyes. He
| thinks "Americans want to be gen.
! erous to Europe. both out Of good
| feeling and because many of them
| would upset aheir own economic equi-
| iibrium. But they don't want to be
/ 'done.'" And then he goes on to
paint this picture:
THE average American. I fancy.
! would like to see the European ma
| tions approaching him with a pathetic
light in their eyes and the cash in
! their hands. saying. America, we owe
! yo, our liberty and our life; here we
| bril-, what we can in grateful thanks
ton ...ok the widow and the orphan.
but saved, the best fruits of victory.
| out of the abolition of ornaments.
| militarism. empire and internal strife
made possible by the help you freely
| gave us And then the average Amer
fcan would reply: I honor you for
| your integrity. 1t Is what 1 ex-
| pected. But l did not enter the war
! for profit or to invest my money well.
| I have had my reward in the words
| you have just uttered. The loans are
| forgiven. Return to your homes and
| Nse- the resources I release to uplfft
! the poor and the unfortunate