San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-10-28
ACCORD AMONG
ALLIES COME
as BIC RELIEF.
Morgan's 1922 Statement
Recalled as Nations
Agree.
U. S. Is INTERESTED
Parley's True Value De-
ponds on Repara-
tons Body.
U. S. is INTERESTED
BY DAVID LAWRENCE.


Eopyrignt. Ly The San Antonio L'cht.
Washington. II. G.. Oct. 2..-Pub-
sicity and open diplomacy-the wea-
1lons that brought the allies together
during the war-have at last brought
an accord again among France, the
United States and Great Britain.
Until Secretary Hughes and Lord
Curzon. British foreign secretary. de-
cided to make public their exchanges
of notes. the French were against any
interference in the reparation situa-
tion. But in the face OF British invi-
tation and American acceptance the
French could not afford 10 refuse a
pGrley.
While it is known that the French
are not optimistic about the outcome
and ~thc situation is still capable OF
getting tangled, the view here il one
Of qualification that at last break
has come in the deadlock.
In order TO understand the next
moves. il is necessary 10 60 back to
June. 1922. when the identical pro-
cedure which is about 10 be followed
in the appointment Of commission
of experts was wrecked by the French
after the commission got TO work.
Then. as now, the experts were invit-
- to Paris by the reparatiOnS commits
sion: then. rs now. they were Lamed
not BY governments officially but hy
the reparations commission and they
were only TO give technical advice.
Inasmuch rs J. =. Morgan will bc
invited once moro. or some member Of
his firm. to sit in the conference, his
statement at the conclusion of the
last meeting Of experts is of the great
est significance today. 1t represents
the point at which the start must be
made. He said then in a carefully
worded announcement:
Il came purely rs 4 private citizen.
holding no authority from my gov
Crnmcnt 10 discuss matters under
their control. bur rs a banker en-
gagged in the distribution IF securities
in the Investment markets of the
United States insofar as their condi-
tion might permit.
j. =. Morgan Explains.
i explained nj tho first meeting Of
the committee th9t there * no inter
est in the interest in 4 loan 10 Ger
many nc 80. There Is. however. in
'Gy opinion. growing appreciation
in the United States in the fact that
its own prosperity IS IN 4 degree de-
pendent upon the prosperity Of the
Allied nations and that the prosperity
of the latter is. in 4 large degree. de-
pendent upon the rehabilitation OF
Gernany'S credit.
Il coHscGUcntly believed that the
American banker and investor could
he interested 70 Il substantial degree
in the purchase of German obligations
II two fundamental conditions were
satisfactorily established:
First. that such n loan should be |
~ tho request and would be for the !
benefit Of the Allied nations. This !
could be in 10 way better expressed |
than by the active cooperation Of the |
private bankers Of tho Allied c0un- !
tries in distributing Of the German |
securities TO their nationals.
Second. through the technical So
cUrity to he given by Germany and |
the rehabilitation Of its internal fiji
nancial situation, Germany should |
clearly show n desire 10 meet its Oh |
ligations in the hope that BY the full |
fillmont Of that obligation it could