New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-06-10
Bankers Deny
Loan to Berlin,
But Point Way
,e.,,Iau.e fpn p.ss osO


continued to labor into the night. botn
texts arc similar, although one "snt
further than the other ~ nhnllng W
ar,omnt N he cut OF the German debt
ns 10000. 100000 gold marks ana slso
in making moro precise Suggestions
on other points. .ts.
Neither text entered into eonsidera,
,ion ~ n loan at the present time ah9
indirectly gave IL TO DC unaersloon,
that this IL impossible In the present
state % the worlds finances. boen
prepared statements merely SCI Gown
the conditions under whleh tho iV""
might become possible.
Late tonight II was UNDERTOOK en i
whatever text was adopted, inc action
would be unanimous, thus closing tne
can which was created when rIshoS
refused 10 adhere 10 the proposa' on
an uncompensated reduction OF the
German debt. Differences OF oP'n'on
anpeared among the hnaneierS AZ 70
whether they should name inc amount
Of reduction necessary or leaVe ln7
question In the hands Of the commis-
sion which will be called 20 discuss
the recommendation In French cir.
clos the opinion prevails that the text
~ the note which will be handed 70
the commission will not mention the
precise amount
France Upholds Decision
French public opinion is believed 70
be in accord with the action OF the
bankers. In any event, due eonsideta-
ton will be given 20 the French view
point that the question OF war deo,;
must be handled jointly. Approval WI,
be given. Of course, TO the proposal
that the devastated areas be given prl-
ority in the event that loan Is MADE,
In the circumstances IL was agreed
that France could adhere TO the bank
ers' proposals in spirit and even ae-
cept sacrifices Jointly with the re-
maln9er Of Europe, Germanys part
being mainly good will.
In the opinion OF many tonight the
bankers action will lead 20 n Dig
economic and financial conference IN
Washington II the Harding Admins
tration sees is way clear 10 take the
initiative. and there is some assurance
here Of this eventuality.
The scmi-oficial Temps processes
10 see n maneuver in the loan nego-
tiations 10 disregard Europe's debts to
the United States and says that France
refuses 10 subscribe 70 such a plan.
There Is one danger we must avoid
saws the Temps" 1--WE do not want
France TO be drawn into a maneuver
against the United States-forced 20
adhere 10 a combination which in the
subordination Of the loan 20 the re-
duction OF the debt might seem like
pressure on the part Of all Europe on
the American government 10 have IL
renounce is dues.
I'VE believe that the nations should
collaborate In paying their debts and
rot Join for the sake OF ropudiating
them. We would like 20 suppose that
our attitude will be understood IN
Washington, and II some representa-,
tiyes Of the United States favor ana
counsel other governments OF Europe
10 adop. another policy they are not IN
accord with the Department OF state
Hints at Bait TO Belgium
I'VE want Belgium TO work hand in
hand with France to get full repara-
lions. Nothing can ever prevent the
interests Of Belgium and France from
coinciding. They are Offering her I'M
mediate financial benefits 10 tempt her.
They plan to give her the whole Of the
priority Immediately, but II she accepts
this Il will be st the expense OF the
rest Of her dues"
The Temps unmistakably refers 20
Great Britain and Italy in using the
word "they," andtt is.felt that these
countries are attempting 70 force the
loan issue az the expense OF Belgium
and France by pairing down their
shares. The newspaper demands the
Immediate Allied control OF Germany's
finances under the terms recently
agreed upon and says that France
would be delighted 20 sec the bankers
give Germany a small loan on two con-
ditions-irst, that the loan must not
be calculated in such q manner as 70
separate French and Belgian interests
or lower Germany's debt 20 the Allies,
and, second, that IL De well understood
that the loan issue prosupposes execu-
ton Of all measures ordered By the
Reparation Commission particularly
the stoppage of Germany's imitation
and the functioning Of Allied control.
The Committee on Guarantees, a sub
commission OF the Reparation Conn.,
mission, designed 10 supervise German
finances. met for the first time to-day
90 discuss measures of control and
whether headquarters will remain in
Paris or be transferred TO Berlin. The
lat.cr ms 20 be the most probable.
PARIS, June o (By The Associated
Press The international bankers, at
a session held tonight. virtually de-
cided 10 adjourn for three months and
then resume consideration Of pro-
posed loan 70 Germany.