The Washington times., 1923-02-01
BUSINESS HERE
DEPENDS ON
PEACE
Ready to Go Ahead Except for
Doubt on Europe, Declares
Standard Oil Head.
By A. G. BEDFORD,

general statement that the promise
of widening and increasing pros
perity in the United States is
conditioned by one outstanding
question: That question is whether
there will be any Unexpectedly un-
toward developments in Europe.
No one can escape the fact that
hanging over the business horizon
| is a very dark cloud representing
the uncertainty as to what will
happen in Europe. Whether that
cloud will quickly overcast the
whole sky, whether it will burst
forth into a mere April shower,
whether it will develop into
tornado, no man can say.
Problem Puzzles Here.
The United States would like
very much, indeed, to be rid Of
this problem. There is q sentiment
of undoubted strength throughout
this country that we should let
Europe alone to work out her own
problems. That sentiment reasons
that Europe has refused to set
it's house in order, that It has de-
clined to take those measures which
it seems to us so clearly ought
to be taken. We say let Europe
reduce her standing armies. Let
her cut out governmental extrav-
agance, let her countries stop print
ing paper money, let her govern
ments balance their budgets and
then let them pay up what they
owe us; after that we will be pre-
pared to do our part with Europe
just as we did it before the war.
There is no dissension among the
peoples of the world upon the one
fundamental proposition that what
the world needs above all else is
peace, peace not alone upon the
battlefields, Sbut peace in mems
hearts, and a re-establishment Of
mutual trust among the nations.
In spite Of this agreement upon
general principles we find condi-
tons in Europe extremely chaotic.
The conference in Lausanne seems
perilously near an open break. The
entente between E gland and
man dares predict the ultimate re-
suits from the French invasion of
the Ruhr. Meanwhile there is uni
versa1 agreement among financial
experts and economists to the effect
| that Europe continues to move to-
ward economic, social and political
disintegration.
English Can Pay.
The United States has loaned to
Europe upwards Of $4,000, zoo, 900.
Our Government takes the position,
and that position is undoubtedly
supported by a strong public senti-
ment, that these debts must be
paid. With reference to England,
there is no question of her ability
to pay US, and there is likewise
no doubt Of the determination of
the English people to meet their
bond, no matter what conditions
may be imposed by the Government
of the United States.
| With reference to the countries
on the continent Of Europe, how
ever, the situation is entirely diff
ferent. France owes the United
States and she owes Great Britain
a very large sum of money. France
has an internal debt approaching
$50, 0O0, 100000 francs. OF that
amount some 100, 900 ,000, 900 francs
have been expended since the
armistice in restoring devastated
areas laid waste by the German
army.
France says to the world, she says
in particular to the United States and
Great Britain, IT owe you a certain
sum Of money which I intend to pay
The treaty of Versailles states, and
the public opinion of the world
agrees, that Germany should make
|
| the war. II I am unable to collect
from Germany, it Is impossible for
me to pay"
Doubt French Wisdom.
Public sentiment in Great Britain
and the United States frankly ques-
tions the wisdom of the French occu-
patton Of the Ruhr. There is un-
doubted sentiment that France would
be wiser to assume more lenient
attitude towards Germany.
We all agree that Germany should
be forced to pay to the utmost of
her capacity, but there is likewise
agreement to the effect that the
terms imposed in the treaty of Yer
sailles are such as 1t is impossible
for Germany to fulfill. Nevertheless
it must be clear to any one that so
| long as this claim against France
exists on the part of the United
/ States and Great Britain, France
must maintain a theoretical claim
against Germany, enabling her to
make at least a bookkeeping entry
against her obligations to the United
States and Great Britain.
Frances position is complicated by
another factor of the greatest impor-
lance. Within the last fifty years
France has been invaded by Germany
twice. There has been hostility be-
tween France and Germany stretch.
ing over thousand years.
At the moment France has Ger
many just where she wants her,
with the French heel upon the Ger
man throat. The French know per-
fectly we'll that the provisions of
the treaty Of Versailles will ex-
pire in time.
The French very naturally and
humanity demand therefore that the
one basis to their agreement to any
final settlement which will make
the prosperity Of Germany must be
some provision for the security of
France. There is much reason to
believe that until provision is made
for the protection of France against
aggression, there can be no peace
in our time.
Peoples Near Starvation.
he -