Cheraw chronicle. [volume] (Cheraw, S.C.) 1896-2005, 1922-06-08

coal
ERMANY'S reply to the ultima
~ tum Of the allied reparation COM
mission was near enough to complete
acceptance to satisfy that body, which,
after days intensive study of the
note, telegraphed to Berlin its approx
al Of the German promises to bal
ance the budget and to stop the Issue
Of paper money. The commission then
turned over to the committee of inter-
national bankers in session In Paris
the entire question Of German finances
and payment Of reparations. Those
bankers, among whom Is ]. Pierpont
Morgan of the United States, are now
studying the questions Of Germany's
capacity to pay, the guarantees she
can give for the series of huge loans
that will be necessary, and, In connec-
ton with the latter, the possibilities
involved in the Russo-German pact.
The German proposals were drawn
up by Finance Minister Hermes and
are not at all liked by some other
members Of the Wirth cabinet and
many members Of the reichstag. The
SHINES group especially attacked
them as a surrender of sovereignty
that will bring on catastrophe. The
reichstag refused to pass vote OF
lack Of confidence in the government,
but the cabinet Is believed to be In a
sbaky condition.
Lloyd George made statement on
reparations in the house of commons
In which he strongly intimated that
Germany would be granted reductions,
postponements and revisions when
these appeared necessary, and this
was greeted with cheers France,
naturally, Is not pleased with develop
ments, but is not in position to object
strenuously.
G ENATOR M'CUMBER's bill for
- soldier bonus was approved by the
senate finance committee by a vote Of
8 TO 4, and he announced he would be
ready to make favorable report on
the measure to the senate within a
few days. He hopes to induce the
senate to sidetrack the tariff debate
long enough to pass the bonus bill, but
as the latter does not go into effect
until January l next, many OF the Re
publican leaders are opposed to this
idea. The Democrats will support
McCumber's plan for immediate con-
sideratIon Of the bonus. The bill as
approved by the finance committee Is
almost identical with the bill passed
by the house. The Democrats are not
satisfied with 1t, and Senator Smoot
/ will try to have his insurance measure
adopted as q substitute, so the debate
in the senate is likely to be long
one.
INVESTIGATION of war frauds now
l. is under way in Washington, the
first Of the governments series Of
cases, dealing with contracts for dis
posal of surplus lumber, having been
presented to the special federal grand
jury by United States Attorney Pey-
ton Gordon. Attorney General Daugh-
erty issued n statement saying that at
no time during the grand jury lnvesti-
CATION would any information be given
out as to It's activities or the names
Of the cases presented.
Meanwhile Senator Caraway and
others continue their attack on the
attorney general untlaggingly, with
the avowed intention of driving him
out of the cabinet because of his con-
nection with the release OF Charles w.
Morse from the federal penitentiary.
II is stated in Washington that Presi-
| dent Harding has full confidence in
Mr.. Daugherty's honesty and integ-
rity, which Of course means that he
will not ask him to retire from the
| cabinet.