The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-05-15
Lamont FOresaW
Loan to Germany
By Her Enemies
BY DAVID LAWRENCE
Copy right 5y The InteuiGencer)

Washington. May 1T. 2. Morgan
sailed for Europe Saturday TO advise
European bankers hayg an international
loan may DE rloatcd to hep Gcrma ny
pay for the damage 81" lid N the Wa
that's the s.rnIl" Acknowledgement Of the
day. but Il Is full o. Significance for the
future It is tie DHri0"iNS Of series
Of steps % Threading importance q"
American industry ar! commerce. and
recalls = hiiherio unpublished incident
wh!ca illustrates 10" fa>I~S!ShtcG bank
srs can be
Ju,t ,vRo months before the arultStlcs
~ lJLN. Thoulas S Lamont. a member
Of :he nr-7 OF :. 2 Morgan and com
pacr listed -he Waite House and mad
!orE talk with President wilson about
the poss. h,ht!es Of world economic re-
construction, Sho-ld the war come TO an
end on he train to \ew York. Mr. Id
mont SAID 20 his correspondent:
Forsseon By Lamont
-rhs war isn't over and l suppose
n would create great CONSERVATION 70
sav II. but when the war IS over and
Germany has 20 pay a hlE Indemnity.
YOU will Snd thc allies iHrd.1C the
Money 70 Germany to pay her i1deni-
nifty
10 you mean that 30 United
States viii do s1lch a thing
Yes, the people OF America ard
Great Britain have re monay 10 !erd-
suppose II sounds tar,astic--that
re should lend our enemies tho money.
but that's wha, Will happen. ! have
ius, been reading what occurred aft"-
tn Franco-C;s-,r1n var Of 1870. ~
that time Franc" had to poE Or
many and she borrowed -" money.
and mo investors - the oth'- Euro
vCan cou0trl'~. :" ''udtnS Germany
herself lent thai money. l. may not
hN popular 20 ',-i'" bout It nov bu,
put u IN the back OF the mind fur
future use
W. Lamont .o-esaw. therefore. IS
Early as September. 1915. ths prospect
OF an International loan. Nearly four
years have elapsed since them and tho
problem OF Germany indemnity pay
rnArts has not beer solved The repara-
ton commission created by the YER
sailles treaty is supposed 70 regulate
the 4ov OF German payments The con-
mission knows Germany can't pay at
once or even periodically .thout some
sort OF loan Bankers OF all countries
have been invited 20 give their ad-
VICE Mr. Morgan will meet his part
re- Thomas W. Lamont. who : already
IN Europa and together they will advise
what can be done with an interua ional
loan II tioated IN America
Assurances Of Stability
Certatn assurances will have TO be
given Of stability In Europ.-othcrwlse
American investors will nor feel sate
IN lending their money. That means
some definite understanding between
France and Germany 80 that the repair
zt!ons question will DOT be constant
source OF worry and irritation And
when once arrangements are made for
Germany to borrow the money where
wt,h % paw her Indemnity. th' aimed
--,:~.r;es Uln - benefited because tho
u,c-ay .hcy reC6 we will hcl3 10 reduces
,he,- burdens % .rcrrral TAXATION and
bYstress and commerce viii be stmu-
a;ed
Cu-io1$fy er"uC1. the danger m the
ruru-c doesn't lie on tho side Of the de-
tea;od country Germany. II works
tuS. me Other way. The victorious
countries are N danger 81 ovcr-specu-
la,!oa a. a result Of ne Cow OF tndem-
nf,v money N th"tr erection. History
Of the period Immediately following the
F-arco-Cierrnan var ot 1870 shows THAI
Germany the, suffered a serious imam
rial and economic crisis because her
Industries began 20 eApand on an cx-
,ravaEant basis and tn" incoming funds
stimulated unwise speculation. The
government itsrlf spent It's money for
public enterprises which were paid for
a. htSh rates OF wages and ar absuroly
btrh contract AcVrcs. F-anc,. on the
ether aard. rn~" through the crisis
splerdidry and hnrnced herself BY boz
rowing Of toraEa capital which she
gradually paid back ~ increasing her
annAStlc ard foreign trade
The Parallel OF 1873
N this congestion, Il ~ pertinent 70
r,oors from an essay written by Victor
rome, in 1873. who says.
Two loan YER r',,a" N 1871 and
1872. cGr:A'lrr. together n" rIl
amount o. The Indemnify h..s'd"S sum
OF SIX hundred m.h.oa francs frr sap
Intermediary expenses II We had been
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