Evening star., 1922-07-16

make the loan o; political power to
save Austria and to save Europe from
the danger of Austria? The first an
swer to that, from any one familiar
with the trend of political sentiment
in America. and one understanding
appreciating our reserved attitude to-
ward entangling foreign relation
ships, would be an emphatic No.
We'd Have To He Educated.
myself am inclined to believe that
the answer must be negative. and still
I can see, II only America did under
stand or could be brought to under
stand the European situation. we
zation. indeed to the preservation of
civilization, which might be of in
calculable value.
Before this could be done, however.
there would have to be so much edu-
cation. in America to the true situa-
be such complete change In our
present political attitude toward
Europe that 1t seems presumptuous
and idle even to advance the sugges-
ton that the 'Uunited States govern
ment temporarily step into the posi-
tion of political receiver and admin. IN
lister the affairs of Austria until the
new republic is on its feet.
Is there any other possibility!
There is one, but it is probably as
remote as the possibility of actual
American government partfc1patlon.
Austria must have a certain and, In,
deed, a modest amount of financial
credit or she seems likely to perish
politically.
II American bankers and financiers
were also world statesmen. II they
were disposed to undertake one OF the
most alluring financial adventures
ever presented, and II they couid
carry through such an operation a
breadth of understanding and reai
wisdom of craftsmanship. they might
save Austria and avert from Central
Europe a terrible danger. With these
provisos, 1t would be possible for
American financial interests to make
private loan to Austria; wnish Si
should be surrounded by such condi-
tions Of political control that the
situation might be saved.
Americans Can Save Her.
This suggestion is not a fantastic
one. 1 do not say Austria wouio
gladly accept it, but I believe the
progress of events would be such that
she would have to accept 1t. me
middle classes, the bankers, the 1ntel,
lectuals might be sympathetic toWaro
the idea already. Those IN whose
minds national prerogatives still out
weigh the danger of national destruc-
tion would be brought In only win
difYicuIty. But I found many men
highly placed in the business OF gov
ernment affairs who believed sucn a
plan feasible from the Austrian point
Of view.
There Is going on in Vienna today
an Examination of the possibilities OF
n loan. This examination is being
conducted by British diplomatic au.
thority, by Mr. Young on behall OF
the Bank OF England and other British
financial interests. and ]. P. Morgan
& Co. 1t is serious and hfghly
Intelligent examination into the Aus
trian situation. Those concerned In 1t
warn against unduly optimistic opln-
ions as to the outcome.
Personally 1 am convinced, that
financial loan made without accom-.
would amount to considerable
measure of political authority would
be Intellectual. Such mere loan OF
financial credit will not avail. There
must accompany it political authority.
II American financial interests.
coupled with and probably largely
aided by British interest. should rise
to the possibilities OF this situation,
they probably could save Austria
from disaster. The amount of money
involved would be less than America
spent in a single day during the
height Of the war. The aim to be
attained, considering all~that Is in
| volyed, is almost fmmeasurably
great and benefcent Whatever 1t
may be possible to do to bring to
the American mind true under
standing of the situation and arouse
American imagination to the oppor-
tunitys~ought to be dope. and it is In
the hope Of doing aNlittle IN that
direction that ! hsve. written this
tcopyriskt. 1sas,