The Cordova daily times., 1922-04-20
Frances Stand for Big Army, Coupled With
 Russian likeness, Influences U. s. Position.

undertake still further financing for Europe that owes us $11 1000 900, ,000, Europe that manifests no hurry about paying, and that manifests lit tie inclination to disarm and go to work.
 The industrial situation in Great Britain, according to American ob- servers abroad and refleced in their reports to government sources, is little short of desperate. As in the United States, the end of the war found Britain with greatly expanded means of production and no markets. Russia in chaos, Germany squeezed dry, so far as buying ability went, and the rest of Eastern Europe "broke" afforded little outlet for the great in- dustrial concerns of Manchester, Shef fled, Leeds and Birmingham.
 In the case of the United States and in the case of France the situation was much the same as far as absence of markets was concerned. But there was one vital difference-both France and the United States are in truth self-sufficient. Great Britain is not ly pleaded in Washington few weeks ago by Sir Arthur James Balfour in his now famous speech urging aboli- tion of the submarine. In that speech he laid emphasis on the fact that Great Britain never has more than seven weeks food" in England proper FOREIGN COMMERCE ts VITAL TO
 ENGLAND.
 Foreign commerce, trade with the outside, is essential to the prosperity of France and the United States, but to Great Britain it is vital to her very life, for she produces but a fraction of the food she eats.
 Reluctantly Lloyd George has been forced to turn to Russia, Germany and Eastern Europe for British markets The United States is rich enough to buy but won't, because she is self sufficient, producing everything she needs. Ditto France. As for Russia and Eastern Europe, they are eager to buy but have nothing to buy with eX- cept inflated currency of little or no value.
 Therefore, the problem of the harassed Lloyd George evolved itself eyes naturally turned westward to the United States as the only nation able to shoulder with Great Britain the enormous burdens of world credit needed to get Europe back on it's feet, and incidentally get Britain's factories back to work.
 That the talk of credit and finance at Genoa would lead inevitably to the separations muddle and the cancella- tion of war debts American officials felt sure. Not caring to be put in the position of defending the policy of NOT cancelling war debts the United States refused to attend.
 Another and far deeper reason, however, animated administration Of ficials in turning down the Genoa project.
 The administration feels, particu- larly Charles D. Hughes and Herbert Hoover feel, that there never will be any appreciable betterment of Flu ropes economic situation until Europe disbands her armies, ceases her petty quarrels which form the excuse for maintaining those armies, and gets back to productive work.
 MILLIONS IN ARMY AS FACTORIES
 RUST
 Russia maintains millions of men under arms while thousands of her factories lie rusting and idle. Poland, dominated by France, is armed and ready while her industry stagnates. Czecho- -Slovakia, Jugo-Slavia, Ru- mania and smaller independent states that skirt the Baltic are all armed and idle.
 Meanwhile their incomes do not