Evening star., 1923-05-02
Germany's New Offer.

So far as the financial part of Ger
many's new reparations offer is CON
cerncd, ii seems on it's face to he fair
and reasonable. and if there was a
probability that Germany would be
willing and able to carry out its terms
hat part of the offer ought to be ac
ceptahe 10 France and the other
creditor nations. Berlin proposes that
the sum total of Germanys obligations
under the Versailles treaty be fixed at
thirty billion gold marks. or a.HproXi-
mately $500 900. 900. This is G'ose to
he figure which disinteresteo experts
!ave agreed upon as the maximum Of
'iermany's capacity TO pay, and CORE
sponds To the average of estimates of
damages inflicted upon civilian popu-
!ations in the invaded territories and
as the result of ruthlessness at sea.
This, it has been contended With Il
show Of justice. is all the allies Were
entitled to claim under the Wilson
fourteen points upon which the arni-
Stice was predicated.
Whether Germany is able to carry
out the financial part Of her offer is
another matter. She proposes to pay
twenty billion gold marks, or approx
nately $4,000. .000, 900, on or before July
l. 1927, the money to be raised by an
International loan. 1t is difficult to see
where that much money is to be raised
in so short a time. The only place it
possibly could come from is the United
States. and this country is not going
10 have five billion dollars TO lend
Germany or any one else in the next
four years. American railroads need
several billion dollars in order to make
our transportation system adequate,
and American investors are likely to
regard them as good deal better risk
than the German government. The
Berlin offer proposes that another five
billion marks be raised by 1929 and the
remaining sum by 1881, which would
clear up the entire reparations system
in d period of eight years: a consum-
nation devoutly to be wished, of
course, however impractical it may be.
raising the second and third INSTALL
ments. They can be raised if the first
can, and if the first cannot the others
do not matter.
The Berlin proposals for a non-
aggression agreement with France do
not appear to conform to the forecasts,
but seemingly are worthy of examina-
ZION. Advanced by any nation other
than Germany they ought to be ac-
cepta ble In brief, Berlin offers to as.
sure peace by compact for the arbi-
tration of juridical disputes, with
process of reconciliation for all other
conflicts, after the example Of the
Bryan treaties. The difficulty Of ac-
cepting this lies in Germany's scrap
of paper" attitude toward the treaty
guaranteeing the neutrality OF Bel
gium. France is likely to insist upon
something more substantial than Ger
many's plighted word to make her
borders safe.
But the chief obstacle to acceptance
of the Berlin offer lies in the declara-
rinns with respect to occupation of the
Ruhr. 1t is asserted that the passive
resistance will be continued until
the areas occupied in excess Of the
stipulations of the Versailles treaty are
evacuated and until conditions on the
Rhine are restored according to the
terms laid down in the Rhineland
agreement" 1t is a safe guess that
France will not abandon her hold on
the Ruhr until substantial sum has
been paid over in cash, and Germany
dsclailns ability to raise cash so long
as the Ruhr is occupied. So the dead
loek would seem to be as tight as ever.
1O.i1 is Il palpable bid for American
support in declarations of readiness to
accept the Hughes suggestions as an
alternative, and in professed willing
ness to have the President Of the
United States name an arbiter, but
American opinion is not likely to rise
to such bait. More details are need
ed before it is possible to judge
either the practicability or the sin
cerity of the German offer.