Evening star., 1922-07-23
FRANCE CANNOT SPILL
EUROPE'S APPLE CART
Government Leads Way for Revision of
Reparations, But Will Insist on
Adequate Safety Guarantees.

loath to cancel her debts to France
provided she thought by so doing she
could preserve the peace of Europe.
England never has regarded the pay
| ment OF her share of reparations as
vital to the continued prosperity of
the nation as France regards hers
| Therefore. Lloyd George will find lit
! tie opposition I'm England and the
dominions to debt cancellation though
1t must be admitted that England
| would regard debt cancellation by the
United States the next logical step
| II this country would do her part in
the general adjustment of old world
conditions.
France has notified the Germans
| that she regards the weisbaden
! furnish France with 100000 gold
marks worth OF goods as part pay
ment of the reparations account came
In effect July Is. France undoubt-
In the devastated regions. which have
sorely taxed the French treasury.
Inasmuch as the provinces affected
have organized to receive this means
OF assistance, rather than further d.
rect drains upon the French treasur
1t indicates the trend of thought in
France.
Fear Dumping Of Goods.
France. as other nations. fears Ger
man dumping of goods which would
result If payment in kind, goods such
as other nations manufacture, is
dumped promiscuiously upon creditor
nations without some, means of regu-
lation. and this regulation is expected
to he brought about through agreements
to be effected regarding reduction OF
the German debt
II is suggested in London-and the
idea has found support in other coun-
tries-that Germany be not permitted
to nay in snch Fiud as will interfere
with the industrial or economic out
put of other nations, but that Ger
many furnish such materials as will
contribute to the advancement of all
lied industry such as machines for
the construction of needed factov+ss
and materials desired by other coun-
tries. but which do not in large meen-
ure come in direct competition with
the output of these individual coun-
tries.
Great public enterprises would be
fostered and directly made realiza BILE
through German endeavor and these
accounts would be applicable against
the sum total of revised reparations.
In this way the industrial life of
each of the creditor nations would be
enhanced. The em3lnvnent prob
lem would be relieved through in
creased work by virtue of increased
ma nufactures made possible by Ger
man machinery. II is suggested also
that the manufactures or others aided
by German contribution. float bonds
to be taken by the respective gov
ernments AS liens. and that these
newly created concerns pay to the
governments certain percentage of
their business receipts each year III
the liquidation of such bonds.
Would Control Distribution.
Such plan. though possible. has its
defects and undoubtedly would re-
quire many months for successful ap-
plication. but unless some system is
worked out whereby the allies can
control the acceptance of German
goods and their distribution. un-
doubtedly Germany's cheaply pro-
duced stores will go far toward un
dermining the business of other
nations. But some means will be
found to solve the situation !nasnuch
as the allies more and more realize
that payments in kind must compose
the larger part of the reparations
totals no matter whether they be cur
tailed or not.
The other solution left to the allies
is the reduction of the total sum OF
cash reparations with the view OF
many chance to adjust her internal
and external budgets through the me-
dunn of outside loans. This ADJUST
ment is alone possible through re-
duction of reparations. currency
stabilization and loans. In case there
is reduction through Franco British
arrangements. the sum total OF fepa-
rations would be divided into annul-
ties these not to bear heavily upon
Germany at any juncture. GerinanYs
anxiety would be relieved. and win
Germany once more taking ner place
with other nations ana applying her
self to the prompt payment of the de.
manded sums none of which would
he beyond her ability. there is no
question but that loans in plenty
would be furnished by outside hnan-
ciaI interests The nations of Europe
generally could get down TO the gen.
eral business of ironing out the fnan-
ciaI and economic kinks that have
come to pass through the war and lis
aftermath.
with the Hague passing into history
and the Russian question still iett IN
the air it is the concensus OF opinion
in European foreign offices. accord
ing to reliable advices reachlhg
Washington. that the repara{ions Is
sue should be tackled and settled once
for all in order that when the Rus-
sian question again becomes para
mount there will be no distractlns
;nf1uences and the whole adjustment
can be undertaken with an assurance
warranting final and decisive agree
ments everywhere.