The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-11-12
Wh0t's Going on in the World
WEEKS CHIEF EVENTS BRIEFLY TOLD

Fsur peaR flnaneiers, Americans advis-
tug, e wrestling with the problem Of
payment by Germany to the allies for
their losses in the war.
Chancellor Wirth OF Germany says
his country probably will go bankrupt II
the claims against her are urged just
now.
Some people believe this. Others do
not.
What Europe Owes.
However. It is agreed quite generally
that 1t may be unwise to insist on i'm
mediate payment by a nation which
undoubtedly is pinched terribly for
money, but may be abla TO pay up if
given sufficient time. Just as it is un-
wise 70 press an individual similarly
situated-the idea being that the
money and not the debtors ruin is
what the creditor wants.
But France says she cannot wait for
Germany unless her own creditors will
wait for her,
For this reason many Of the finan-
ciers suggest general moratorium
that is, an arrangement by which pay
Tnent Of debts is suspended for GER
tain length Of time. In this instance
five years is tho shortest period men
toned.
OF course the United States is con-
cerned vitality, since she is Frances and
the rest Of the allies principal creditor.
Undoubtedly she will grant all neees-
sary time for repayment Of the money
she loaned during the war. but again
it has been made clear that she will
not cancel these obligations, as some
Of the debtors have more than limited
at.
For one thing, the money is rightful-
~ hers. For another thing, she has no
inclination to make a present Of it to
powers which could pay it very soon II
they reduced their military expendi-
tnes--a thing they show no signs Of
doing
President Harding reaffirmed this po-
sition only few days ago
The new Fascist regime in Italy
worries Europe.
The FascIsti were dissatisfied with
what Italy got out of the war. 1t is
thought quite likely. now they are in
power that they will try TO get more.
This would disarrange the peace set
element which surely would cause
trouble, and even a little trouble in Eu-
rope. has such tendency to spread!
Diplomats Worried Ry Fascist.
To begin with, diplomats believe the
y
make an Italian lake" out Of the
Adriatie Sea tfind it on the mapD
Albania, On the eastern Adriatc
shore, is having a revolution now. 1t
may give the Fascist an excuse for in
teFvening there. The turbulent Italian
poet, Gabrielle d'Annun2io. plans an
other filibustering descent on Fiume
(find also Albania and Fiume on the
map. There would be dynamite in
either Of these ventures.
Bulgaria fears Fascist ambitions that
could be realised only at her expense
So does Jugoslavia. These two arc dis
russing a defensive alliance which. in
turn. a1arms Rumania. Hungary thinks
she might profit by a squabble in that
quarter.
Turkey had a war with Italy just be-
fore tho world conflict, and certainly
would resist any spread of Italian pow
>er far in her direction.
There Is much anti-French feeling in
italy. which France resents.
Early accounts indicated that the
Fascist acquired power in italy by al
most unanimous cwnsenr. Italians ar
irving abroad. fugitives from Fascicti
he TT. d, tsit a different stlry. They say
Italian labo. Is strongly anti -Fas cist
tut that the Fascist "doctored" the
news.
For Premier Bento Mussolini. Fascist,
leader. one good thing can be said
webbing state smanship has Delayed
Europe's return TO normally" Musso-
Ini seems no wobbleT. buI strong man,
urafraid II responsibility and with Il
defiG tie policy.
what Europe fears is that he will
carry it too far--too far at any rate
10 suit others than tho Fascist them
selves.
There are signs Of a great Moran
lneian revival ia the world.
Turkey IS the movements center, be-
cause NTuhanarnednGs always regarded
Turkey as their mother land. Even
those who lived under other govern
lnents hose hoped for day when they
would c,me again under the eway OF a
ruler Of their own faith.
Renal Pasha's successes have crys-
tsllised these hopes,
Az a first step toward the unhicauon
Of Islam il scanned 20 Kemal necessary
20 divorce the functions OF Mohamme
dan political and religious leadership
Hitherto since the same individual has
been both temporal ruler OF the faith