The Prince George's enquirer and southern Maryland advertiser., 1922-07-21
GERMANY FEARS
FINANCIAL CRASH
Special ENJOYS Sent to Paris
With Appeal to zReparation
Commission.
MENACE ALARMS THE ALLIES
France Fears Default Of July Pay
ments--occupation Of the Ruhr in
Event of Bankruptcy One of
Measures Suggested.

the Berlin government to check the
decline of the mark by requesting the
Allied HReparation Commission to give
Germany more time in which to meet
her obligations.
1t was said semi officially that two
German experts had gone to Paris to
ask the Reparation Commission for a
moratorium. They are DIR. Fischer
chairman of the German War Debts
Commission, and Herr Schroeder
under secretary of the Ministry OF
Finance.
Although the 100000 gold marks
required to meet the July Is payment
to the Allies had been gathered in the
Reichsbank before the mark started
its headlong plunge, German officials
feel that they cannot meet another
payment with the mark heading for
the same road taken by the Austrian
crown.
Paris-The continued descent of the
marks value and the news that Ger
man financial experts were on their
way to Paris to ask for a moratorium
on cash payments are arousing alarm
in French official circles, where the
opinion was held that the Berlin situa-
ton was not critical unless this mora
torium demand was made. Rumors
that Germany intended to default on
the payment of 50,OO0,OO0 gold marks,
due on July Is, and would demand
complete suspension of gold payments
in 1923 and 1924, with a promise to
try to float an external loan to meet
the 1922 payment, have alarmed finan-
cial Paris, where there is no attempt
to hide the fact that France is worried
over her own budget situation, which
is based on gold payments from repa-
ratiOns.
The semi-official Temps counsels
and recalls that France expects moth
ing in the way of gold payments in
1922 on account of Belgian priority.
Assuming the same basis Of payment
in 1923, France would receive about
100000 after the remainder of Bel
gian priority was satisfied, assuming
that nothing is paid the United States
for her Rhine troops. But If Germany
demands the long-term moratorium the
Temps agrees with government circles
that the situation becomes really seri-
Gus, as the Reparation Commission Is
empowered by majority vote to grant
Germany complete moratorium up to
1880, regardless of Frances financial
condition. After 1890 the vote on q
moratorium to Germany must be
unanimous.
''The Treaty of Versailles dealing
with reparations refuses to France the
advantages of isolation and solidarity
while exposing her to risks of bank
ruptcy and slavery" says the Temps.
What action France would take in
the event of German bankruptcy was
not even hinted in official circles, al
though the obvious move would be the
occupation of the Ruhr and the seizure
of the German customs.
The Chamber of Deputies moved to-
ward adjournment until October with
out ratification of the Weisbaden
agreement, which is designed to give
France almost billion gold marks in
the value Of goods from Germany IN
the year 1922. AS 1t cannot be ratified
before autumn at the earliest, France
in the mean time cannot profit from
the payments. The great industrials
of France consistently fought parlia-
mentary acceptance Of the agreement
because of the fear of flooding French
markets with German goods and the
loss op q market to them DarticUlarly
in the devastated regions.
The mysterious position of the gov
ernment in not urging ratification by
the chamber may be partly explained
by desire not to ALLEVIATE the big in
dustrials and plan to entirely sup
plant Loucheurs famous pact with the
late DR.. Rathenau at Wiesbaden by
more practical proposal along lines al
ready announced in the plan to have
Germany supply about 1900, 100000
paper francs worth of materials and
labor to build up France.