Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-26
'APER MONEY SMELLS
POCKETS OF EUROPEANS
'opulacc, Deceived by Iilu.
sion of Wealth, Is
OH Orgy.
fIG CRA ASH IS EXPECTED
'nyIncnt Of Anything Like Full war
Rcpnrntions n Not Expected to he
Perfected for n Century-Mnny Ma
tiOnS Hankrupt.
CRASH IS EXPECTED
Thy Universnl service.l

81
PARIS. Nov. 25.-The European
Hancial card castle IL totterinE on
treachcrouS base Of shifty manipu-
uoh ana doubtful csp-dient and
tuation more dangerous even than
nothcr war looms omiously In the
ogeground ot world politics.
mo exchange status has ceased to
10 subject for international humor
nd has become an International dis
ster tn" like OF which the world
ever thought ~ gee. in which the
hcorics Of Adam Smith and Cobdeu
re sunk in the same whirlpool which
3hrohtcns 10 "ugulf tn" entire struc-
nro ot civilized hnapce
\ These arc the conclusions gained
From an impartial investigation con
ucicd for months by Universal Scrv-
g. In tho course OF which dozens OF
.urop"s greatest economists and
I nanctal authorities have been con
| IItcd. newspaper articles read and
4 ssect"d ana opinions cullcd from
nndrcds Of books. new ana old
Here. in th" order 81 ,hsir import
nee, arc i"w OF tn. amazing facts
his invest CATION has disclosed:
j Win tho exception 81 Great
3'r.tatn. sol" nation to realize That
w. war debt should b" psld by TAXA
! i'n and not by borrowing. IN" Who'll.
Enrop" is bankrupt Ia fact, II
OF ia uam".
Inl"ss financial mirnrl> occurs
n" fr"uch franc and Ia" Italian lire
3nt| follow tn" rnblc crown ana
ark In Il h"adl"ng plunge. which
3rill &c th- deeper the longer nnau-
iai mak"shlf,s are employed TO on
,ay tho inevitable,
=. Tn. ultiDrg ,tuv. IL, ,h. ,,.,,u. ne
cul'l'F wiii he the hrSt TO recover
H'r"dihle as II may s""m nov. nu-
h0Tiii"s are agreed that the mark
AS better chance eventually 10 re
1nrn :" par value than has the Ital-
1an Ire or The French franc
fdTm"u' Of anything like full
l'ar frparations viii not bc effected
3or century.
IN" refusal az The United states
o cancel in'"ralIied war debts has
lroady presented ono grca, war and
+" long as u IS persisted In will pre-
('eu' many ether Was. because wars
annot be whgcd without money and
Iedils
. The cancellation Of wnr debt. hy
|lm"rica would produc" only a tom
,orary bcttcrmrn, In the Euron.an
iiuati"m. such n remedy would To-.
X" a hy9"d"rmic Injection calculated
" revive. hut not cure. tn" patient.
IN" withdrawal NJ Britain and
'hly from tn" commission 81 rep
|ifit"us. nov for"shadowei. will re-.
rii iu 'hc dissolution ~ that ins;itu.
i0n md I'm direct scrinn by Franc.
f. regain her dg"
The BARK Side.
IA"r" is tho somber. fn-hiddins
'7idr "f u" situation. !, Is u tahleau
make the wi>st worry, 10 give
go 10 IA" most h"perui, /, {, TIN.
,,'esnl' If an impartial study Of the
7 sets and not Of a SIX wcekg tour
: hHf'p" nor ~ a willingness 10
,heli"r" impossible" propaganda
The situation is on. directly az
'"e,ins the United states. becaus. the
rash 81 Europ. viii Inevitably cans.
a tremendous reaction across IN. At
|Iantic What say economists. is the
as" OF having half the words gold
In The treasury II nchhy has sufiici-
'ent credit 10 borrow any ~ it, Idle
'E"!d q not an Hssct-it is burden
Ther"'of" The problem peculiarly
|nr!S.nr today - on" that affects
America as muvh ~ 1t affects Eu %
ropo. On"-half Of ne world cKn-
got 20 bankrupt without enormous
prejudice ,n tho other half
THE world must prepare Itself
FOR period ~ financial disaster ex-
tending over perhaps half century"
said Herr Frederick Nauptmarn, Of
EaS!c. Switzerland, 20 gathering
Of bankers In Munich.
II IS beginning to he realized
that the greatest danger is delaying
the inevitable" writes Leon Chaven.
on, In Information. most influen-
ria! financia! daily In Paris Tho
defationists. who see only visionary
return OF the franc 20 par. arc In a
fair way to ruin trade. The policy
OF issuing loans To pay interes, on
previOus lOhns is Il policy that Is