The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-02-05

~ tisttA LtDAo oiitt bs tS@utfk VAST
Quantities Of paper currency. which
inevitably must deteriorate in value
and injure the nation because of the
lack OF a stable medium OF exchange
In respect 20 the latter exii. ar
Nanderiip wildly illustrates What
he meansr He states that in War
sa~ he observed an Old woman
wretchediy clad. the very PERSONA.
cation OF poverty. Who had near her
two piles Of paper of equal height.
one consisting OF the newspapers she
had for sale aud the other OF the
money she had received 90 payment
for the papers already sold whea
the unit OF exchange has become 80
vsl0eiess. states Mr.. Nanceriip. il is
comparatively easy to become a mil
lionaire~: perhaps the Old woman be
mentions was herself a millionaire.
but that does not mean that she
y as not living in poverty. 50 grave
has the situation become that some
viii sch their property and hoard
what they imagine 10 be vast sums
CT money. only to find in the end
that they have treasured a worthless
pile OF paper.
But such a misfortune as the infia-
ton of the currency is not in itself
an original cause of Europe's dis
tress. At worst. il is no more than
! a subsidiary cause. itself produced by
pre-existins evils. Among the most
serious of these are the treaties OF
Paris. TO which Mr.. Yanderlip as
signs the responsibility for much OF
Europe's present suffering. Out
side Of the provision for the League
OF Nations" he remarks. there is
| nothing in the various treaties of
Paris that is healing. | will
make the assertion that there IS not
well informed man in Europe who
viii wholeheartedly defend them"
Yet the treaties endure and are hon
ored almost as though they were
sacred: and the blame for their
framing and retention is largely as
cribable to France, which, says the
| author. has Offset her "indomitable
courage in war" by falling into "a
state OF chattering terror in peace"
Referring to "the harm that France
is doing herself. all Europe, and the
world" the author declares that "she
seems so beset with fear OF the flu
ture that her mental processes do
not register logically
Mr.. Vanderlip makes no effort to
be lenient in his condemnation of the
monumental blunders of the Treaty
&c ID, 10 ;,,i Sc nT
Etical wisdom, it's disregard for racial
lines and for natural economic bar
riers. "Magnaminity." he maintains,
twas wholly lacking in the treaties:
they were dictated in a spirit Of re.
prisat, revenge and seifishness and in
economic blindness" and "the evils
that flow from those unhappy facts
are injuring Europe more seriously
than did the war ITSELF" As an ex-
ample of the utter folly and blindness
that dominated the mapmal1ing ac-
Invites of the Paris convention. the
author quotes certain comments of
the Magyars concerning the rediStri-
button of their country. "They said
that the taking away OF Transyl-
Ndiltet t'idNihS II uhbCi tNubhssh
ian domination would compare to
cutting of New England and placing
it under the rule OF Mexico. The
parallel, they thought. would be we'll
drawn If we had lost the war and
the enemy had redrawn our map in
way that gave to enemy Powers
half our territory and had clipped off
our Pacific coast and had given it to
our associate. Italy. and had trans
ferred Florida 10 another associate.
Serbia"
IN the authors opinion, there can
be no solution of the European prob
lem until "the poison treaties OF
Paris" are rewritten. But Mr.. Van
derlip does not confine his construc-
tive ideas merely to this suggestion.
He has much of value to say regard
ing remedial measures: and he APP
proves aualiiiedly of the League OF
Nations. stating that it has done
much toward abolishing artificial eco
nomic barriers and toward bringing
| the nations together in that spirit of
sympathy and understanding which
is essential if their wounds are ever
| Ia be healed. And he considers ii 10