Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-08-08
THE THIRD CONFERENCE
= ENEVA, The Hague, London

tn1ro attempt 10 UT lhc
economic situation in Europe is
scheduled to take place this week
in London. At Geneva there was
failure because of the attitude OF
France and Russia. The confer
ence adjourned without doing much
of anything except pass some reso-
lutions pledging the states involved
against further aggressive warfare.
At The Hague also nothing was
done owing to the swell headed
attitude of Russia who demanded
enormous cash credits in new loans
before she would even discuss the
payment of old debts or the restor-
alton of private property belong
ing to citizens of the allied ma
tions. 1t was of course impossible
to treat with people in that frame
of mind, so The Hague conference
adjourned with nothing accom-
plished, except an agreement. to
which the United States signified
its approval, that all the allied ma
tons would use their best efforts
to discourage their private citizens
from buying any of the confiscated
property belonging to aliens in
Russia, and not recognize the
validity of such a deal if it was
made.
Now the third conference on the
same subject is to take place at
London. This time the confer
ence is confined t the four coun-
tries principally interested in Ger
man reparation payments. These
are France, Belgium, Italy and
Great BRITAIN. They will also dis
cuss the matter of debts due each
other for money advanced during
the war. So far as such advances
are concerned between the allies.
they mostly concern Great Britain.
While France advanced some
money to Russia during the early
days Of the war and possibly
smaller sums to Greece and the
Arabs in Syria. most of the war
advances Of cash to the allies came
from Great Britain and the United
States. Great Britain advanced
to tine allies during the war great
sums. The total considerably ex-
ceeds the sums the United States
advanced to Great Britain. Lloyd
George at one time offered to an
eel all these debts due her by
the allies if the United States
would cancel the debt due from
Great Britain to the United States.
The proposal found no favor in this
country, and Great Britain for
mally announced its intention to
at once begin the liquidation OF
its debt to the United States, be-
ginning with the payment in gold
of three years delinquent interest
on the five billion dollars she
owes US. At the same time she
notified France, which is her
largest debtor, and the other allies,
that she would expect them to pay
her their borrowed money as soon
as they could. France owes Great
Britain some three billion dollars
and she owes about the same
amount to the United States. She
was made no provision to pay
either Of them, principal or In
interest, and does not show much
sign of any intent to pay either of
these debts. In fact, judging from
the tone of the French press, the
Frenchmen do lot think they
should ever be asked to pay the
bonds they gave when they Dor
rowed these great sums from Great
Britain and the United States.
Their argument is that the money
was spent in the common cause,
beating Germany, and that Great
Britain and the United States are
better able to lose the money than
they are able to pay it.
Cable gossip is that the French
premier is willing to agree to
cancel the bonds it got from Ger
many as a part of the reparatior
payments, provided Great Britain
will cancel the French bonds i,
holds and which were given by
France at the time it borrowed wal
money from Great Britain. A:
these bonds are not due for a Ions
time and are pretty near worth
less in the money markets OF the
world, because there is no belief
that Germany can ever pay then
e if it wanted to do so. ths
proposition does not appeal to the
British as a very generous n
7. f,~< - ee>rs fo them and &c