Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-12-20
AINDSOFF EUROPE,
Urges PA|LA. Man
s...,,d Wait TIL Nations Have
a1.ched Agreement, Henry
|, Y Barring Hodge Says
|vls U. s. SECRETARY

s,.. United States Government ought
!. ~, out Of the present confusing
ssatlon IN Europe until the nations
..s.I,sd have reached some definite
49, for agreement. according to Henry
r.,1as Hodge. who has just returned
49, Paris, where he was general sec.
.ss,v 10 the unoficipl American dele.
ssics Al the reparatiOns conference.
IN delegation. although not an on.
I.i voting or acting part Of the con.
i.ssrcs. was nevertheless appealed to In
~, ~ cases Tor an impartial decision In
nriops discussions.
M. Hodge. who Is a member Of the
piIladelphin Bar, by virtue. OF his posi-.
~ vae able 20 see the inside workings
Il tke great mass OF mistrust and In.
Simteness which. he says. surround
/ ~ entire European situation.
Calls Situation Serious
'The whole situation Is very, very
s,aSds," said Mr.. Hodge. in an inter.
~ At the Racquet Club. 'Unicss
ssnsthing Is done to prevent Germany
m going down the drain, the whole
vctN Il liable to be drawn into the
Iipstion. We are living here In an
n Of false prosperity. 1t is merely a
ieounption Of buying CAUSED by the
tsr1prnption OF all the reserve. Il II
abSohiteiy abnormal and IL not really
a. Indication of good times.
"When that resumption OF buyink
cases and plenty Is on hand we Will
nye to look to Europe for market.
Csguany today Is huge plant, un.
wuehed and without productivity. She
Sesds raw materials and foodstuffs. and
b obtain them must have some basis for
hteisn exchange. A a market for our
Neducts she Is negligible, for she has
Is money. Unless something is done
n her BY next March, she will be In
IL thrces Of starvation, for much OF
b6 food 10 imported.
"People today In Germany are ret.
ulg rid Of their money as far as cash
b concerned. They are converting ie
iats foreign securities or goods and
ehatiels, anything that has tangible
value rather than the Huctuatins quality
N the paper scrip.
"The economic situation is depend.
Mt on the political situation. The
tlltsd States Is and should be deeply
Nacerned with the economic future.
hut as long as the political situation 10
= upset she should rpmain far away
hon the scene.
Hits Poincare's Stand
Everything today seems to depend
n the cooperation of England and
france. Premier Bonar Law. of Great
Britain, Is the dominating figure Of the
situation. Premier Poinc0rc, Of France.
b narrow and has not the breadth OF
vision. 1t Is up to these two to settle
he question. This Nation should never
enter into any political entanglemen ts
II Europe, but should be interested in
10 financial and economic rehabilito. /.
ten.
"rhe United States as q Government
cannot make any more loans to foreign
nations. but It can encourage private
loans and credits IL such credit II In.
sufed and guaranteed in proper way BY
tAs nations whose peoples receive them.
Ms nations Of Europe look to us for
I'D, but they lay down no plan but the
dncellation Of the debts. Such action
would be absurd until they make up
taeir own balances and zee where they
sand.
THE French say they are offended b.
ar stand. They hive In some caset
Nlsnel US to man who saved friend
when he was attacked by foOtpads and
then left him TO lie wounded In the
street. They think we should now take
dsAnite action, but with the vaguenes.
that Ia evident in all the present mud
dk they cannot and do not say wha,
tAl definite action mny be."