Evening star., 1923-01-07
The Story the Week Has Told

recovery in the British view is not possible
without long moratorium as to deliveries in
kind as we'll as to cash payments without easy
terms of payment when payments are resumed,
as little vexatious and as free of obvious pres
sure possible. The French however, sus-
Britain, whose necessities oa are h different from
those of France) that the British solcitude
the restoration to British of her German mar
ket more than payment of reparations: To the
@It1 them, the Rrsh pan
condemnation. not so much for what 1t pro-
guarantees Of payment, productive guaFan-
ties" They believe that unless they seize GER
hand of the great German industrialists, these
revenues will not be applied in the first in
finances and the recovery of German credit
and thereafter to separations payments
revenues themselves and to see that they are
properly applied. using as little but also
sary The French iand understand that the
Italians and Belgians accept all the essential
moratorium should be for only two years. and
make Re very
IN kind during the moratorium period: that
ing that period: that the Germans are not
nearly SO poor as they would have the world
The French feel that they propose the ex-
treme limit of sacrifice in consenting to a two
collation. Of interallied debts. They see no
reason for substitution of foreign finance
council for the reparations commission and the
committee Of guarantee: they would increase
the powers of the latter.
To them the productive guarantees" are
all-essential to the British they anathema.
Thus the differences of opinion between the
british i on the one part and the French. Bel
found as Bonar Law said, "irreconcilable" and
the British plan having been definitely rejected
by the premiers of France and Belgium and
the representative of Premier Mussollni on the
evening of the 4th. after affirming the friend
ship OF the British government and people for
the French government and people (which
sentiment Poincare warmly reciprocated on be-
half OF his country, Bonar Law withdrew
from the conference.
What now? 1t is we'll to discount the wild
push in force into the Ruhr Valley and 10
wait and see.
United states OF Ameriea.-Senator Borah
having withdrawn his proposed amendment 10
the naval appropriation bill, the Senate pro-
ceeded to reject Senator Kings amendment
which proposed that the President invite "the
governments with which the United States has
diplomatic relations, to send representatives
to a conference in Washington with view to
general international agreement by which
armament for war either land or sea. shall be
effectually reduced" Finally. on December so
the Senate passed the naval bill, including the
clause requesting the President to center into
negotiations with the governments of Great
Britain. France. Italy and Japan with the view
OF reaching understanding agreement
relative limiting the construction OF all
of 10000 tons displacement or less, and of
aircraft
In his famous New Haven speech Secretary
Hughes said: while the three great naval
powers are not under agreement
conbatant craft. IL ought to be possible to ar
range modus vivendi which would preclude
is noticeable. however. that Mr.. Hughes said
nothing about agreement to limitations