Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-08-27
CENTRAL EUROPE
NEEDS j 6. MD
To BRING ABOUT
REHABILITATION
james M, Cox Gives Out a
Statement Dealing With
the Economic Situation
on the Continent,
SAYS EVERY HOUR IS
FRAUGHT WITH DANGER
Unless Relief Is Granted
Shops viii Close and
Thousands viii Be Thrown
Out of Employment,
lBs The Associated Press J

London, Aug. 26.-James NJ. Cox,
former democratic candidate for
president, was the guest Of Prime
minister Lloyd-George at breakfast
today. Last night Mr.. Cox dined
with Col L. NJ. House, who is visit
ing here.
Before going to the premiers res
idence in Downing street this morn
ing, Mr.. Cox gave out statement
to the American and British press
dealing with the economic plight
OF Europe and quoting the Ger
man chancellor, Or. Wirth, as say
ing to him few days ago in Ber-
lin:
Unless the United States inter-
ests herself in European affairs
within very short time, all in
Germany is lost, and all in central
Europe as we'll"
Urges Quick Action.
Mr.. CoX's statement concludes
with the assertion that the fate Of
the world is in the hands of Ameri-
ca and urged quick action by the
United States to bring about the
rehabilitation of Europe.
Mr.. Cox's statement in part says:
"The storm center of the eco
nomic world is central Europe.
Those who have visited Austria
and Germany are of one opinion as
to the state of things now and the
tragic point to which both countries
are drifting. Austria has reached a
s.to Af oil nnt,1Alntn diGGnIII-
ton. The approach of Germany to
the same condition is steadily mark
ed by every passing hour.
"The nations of Europe are
deadlocked on the reparations
question. There seems to be no re-
lief on this side of the Atlantic. The
master key is held by the United
States. No decision by England
seems likely to be accepted by the
French. The French government
will not sanction proposal from
Germany which might approximate
a readjustmetIt OF the figures ng@
in the minds of the French states
men. because that circumstances
flight be regarded by the public
opinion of France as surrender
to Germany.
There Is No Respite.
There is no respite, and every
hour is fraught with danger. 1t is
well to summarize the contentious
Of both France and Germany:
"Since the end of the war France
has sold approximately Sl0,0oO
100000 worth of bonds to her own
people on the repara tions by when
She would have been reimbursed ny
Germany in compliance with the
terms of the peace treaty YER
many saws she lost a fourth of her
Grain lands and altogether one
tenth of her territory. She issued
about $25, 100000 worth OF
bonds during the war and deflelt
of 100000 100000 remains as
floating debt. The fiscal state OF
both countries without economic
stabilization portends but one re-
suit.
"In the midst of this situation
Two false impressions OBTAIN Ill
Europe. First, that France Is ag-
pressivelv militaristic and, second,
that Germany is making munitions
and nreparing for war. The mill
tarv policy of France is based upon
the desire to protect herself against
invasion. With assurances on TINS
point she will reduce her army
Germany Desires Peace.
"The government of Germany de-
slres peace. The leaders are pro-
excessively democratic and the story
IF hidden arms, with the exception
Of unimportant sporadic community
instances, is pure fiction. Ger
MANY has 20,0O0,0O0 more people
than she can sustain except under
high industrial stress. When the
mark was 100 to 200 to the dollar
there were certain trade advant-
ages accruing to Germany but IN
Inc present circumstances the banks
Of Germany cannot finance the N
dustries of that country in the pVi
chase Of raw products and foou-
stuffs. .hons
"IJnless relief is granted shops
will soon be closed, millions VIII
he ont of employment and the win
Ter will bring the threat II no' the
certainty of starvation,