The New York herald., 1922-12-15

Maybe IL was NOT their fuuit. FER
haps they had no power, but that
was the result.
There is something else 70 the
French case. They say I'VE have
made all endeavors to accommodate
Germany. and the result of every
one is that we have got nothing. and
are further OFT from getting any
thing We are tired Of it, and must
take stronger measures There is
no use ignoring thai that is the
French view Now l shall put.
against the French view what, i'll
my opinion. is the British view.
Debts and Reparations.
First of all is the question of the
relations between interallied debts
and reparatiols. In regard TO that
question / have made il perfectly
plain that any concession we make
is subject to and bound up with--if
not the certainty-the great proba-
bility that it would be final settle
ment. not to be reopened again. 1t
follows that such a concession does
involve not doing anything which,
III orr view, would make a final
settlement impossible: and it is i'm
piled that it would only come into
effect when we could reach settle
ment we believe would be a settle
ment.
1t is assumed we have no interest
in reparations. II is suggested
do not say by any one in this House
over and over again chat. with
view to getting on with our business,
what we ought to do is wipe off Ger
man reparations and our allied
debts, and at the same time pay this
enormous sum to America. Look at
that from two points of view: first,
the justice Of it; second, our ability
to do It.
Il am sure there is nobody in the
world who will doubt from the view
point OF justice that 1t cannot be
right that we alone make payments.
/ am convinced that to make that
payment without receiving anything
from outside sources would reduce
the standard OF living In this coun-
try for q generation. We cannot do
1t. 1t is said we have talked good
deal about unemployment. but no
more than the seriousnesS of the
subject demands. Now what is the
position?
British Taxpayers Poor.
We have got out of the central
financial position strong Our bud
get position is very strong. 1t is un-
like that of almost any other coun-
try that engaged in the struggle.
But how have we got out of 1T
strong? The central financial or
ganization is strong because we have
made the taxpayers poor. That is
the real reason.
We pay. apart from contributions
of industry and OF the men them
selves. something like hundred
millions a year 10 the unemployed.
The evil Is not confined to money.
The effect upon our people is terri
BILE. Unless there Is distinct i'm
provement in trade in a reasonable
time, we shall reach a position which
will be worse. almost. than that Of
any allied country. / say this is
generous as people would wish us to
be. | shall try to point out what is
the policy of his Majesty's Govern
ment in a way | think will be clear
to the House, and give no offense--
trust MOTTO our French ally.
The British position in regard to
reparations at the moment is this:
Do not think OF past mistakes, or
enmity 20 Germany. Simply look at
the problem this way-what is the
best method of getting the amount
that Germany ought TO pay? That.
to my mind, Is the sole question.
There is a difference of opinion. of
course. as to what this amount Is.
would put this to the House. II
Germany ever does recover she will
be In far better position to pay
these indemnities than we would be
to pay them out OF our debts. That
is a fact.
No Internal German Debt.
BY destroying the middle classes
in Germany. for that is what has
happened, the internal debt has been
wiped out. In effect. Therefore II
they ever recover. they are free Of
that internal debt. which falls upon
us. We have to consider how We
can get the legitimate debt most
satisfactorily. without injuring the
rest of the world and Germany.
That seems our policy.
But looking at the facts as they
are we have something else to con-
slider. Ali the information / have
received is to the effect-I'm sotry
to say, but ! believe 1t true-that
Germany is very near TO complete
collapse. All the information | get
points in that direction. But the
tgsedy is that while II is essential
Il ara' can be no Improvement in
Germany until they have stabilized
the mark, the very effort 10 stabilize
the mark will itself bring the col
lapse of industry from which we
are suffering. We have TO look at
all these things.
Lays Down General Principle.
Obviously II would be improper for
me to say anything on the Ruhr or